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Gaming and Tech news

Home Depot, Palo Alto Networks, Shopify, AMC

Find out which companies are making the headlines before the bell:

Home Depot (HD) – The Home Improvement Retailer beat quarterly estimates of 3 cents with a profit of $ 2.65 per share. Income is also higher than estimated. Comparable store sales jumped 24.5% in the fourth quarter, more than the consensus estimate of 19.2% by analysts polled by FactSet. However, Home Depot is not providing guidance for 2021 due to uncertainty over the pandemic. Shares fell 2.7% before market.

Macy’s (M) – The retailer reported a adjusted quarterly profit 80 cents per share, well above the consensus estimate of 12 cents, with earnings also above Wall Street expectations. Comparable store sales fell 17.1% on a owned + licensed basis, less than the 21.3% decline expected by analysts polled by Refinitiv. Macy’s stock rose 2.2% in pre-market share.

Palo Alto Networks (PANW) – Palo Alto Networks reported adjusted quarterly earnings of $ 1.55 per share, 12 cents above estimate, as the cybersecurity company’s revenue also exceeded expectations. Palo Alto posted a rather weaker-than-expected current quarter earnings outlook, but noted the opportunities presented by the massive SolarWinds hack. Shares were down 3.7% pre-market.

Churchill Capital IV (CCIV) – Lucid Motors to go public thanks to a merger with the blank check company in a deal that values ​​the combination at $ 24 billion. The deal would inject $ 4.4 billion into the California-based luxury electric vehicle maker. Churchill Capital shares fell 34.5% pre-market.

InterContinental Hotels Group (IHG) – IHG has reported an operating loss of $ 153 million for 2020, affected by the Covid-19 pandemic and the resulting lockdowns. However, the company said its Holiday Inn Express brand has outperformed key markets and international travel is starting to recover. Shares rose 1.2% before market.

Johnson & johnson (JNJ) – J&J is setting aside $ 3.9 billion in talc-related litigation, according to an SEC filing. In November, the company announced that it would set aside $ 2.1 billion for the talc business, as it faces thousands of lawsuits claiming its talc products have caused cancer.

Western Oil (OXY) – Occidental lost 78 adjusted cents per share for its most recent quarter, more than the 59 cents loss analysts expected. Income also missed expectations. The miss came despite a rebound in oil and gas prices. Shares fell 2.2% before market.

Shopify (SHOP) – Shopify offered an offer of 1.18 million shares at $ 1,315 per share, with the ecommerce platform provider expecting to raise around $ 1.55 billion from the sale. Shopify plans to use the product to strengthen its balance sheet. Shares fell 5.5% in pre-market shares.

Carnival (CCL) – Shares of the cruise line operator fell 3.4% pre-market after it offered an offer of about 40.45 million common shares at $ 25.10 per share, l cruise line operator seeking to raise around $ 1 billion for general purposes. The cruise industry was shut down during the pandemic.

The RealReal (REAL) – RealReal lost 49 adjusted cents per share for its most recent quarter and posted revenue that was also below analysts’ expectations. The second-hand luxury goods seller said 2020 has been a difficult year, with the pandemic “temporarily disrupting” its path to profitability. The stock fell 10.8% before market.

ZoomInfo (ZI) – ZoomInfo rose 8.1% pre-market after beating estimates of 2 cents with adjusted quarterly profit of 12 cents per share. The marketing database provider’s revenue also exceeded expectations. ZoomInfo also provided optimistic outlook for the current quarter and full year.

AMC Entertainment (AMC) – Shares of the theater operator jumped 3.4% pre-market after news of New York’s theaters with limited capacity reopened on March 5.

Wells fargo (WFC) – The bank announced an agreement to sell its Wells Fargo Asset Management unit to private equity firms GTCR and Reverence Capital for $ 2.1 billion. Wells Fargo will retain a 9.9% stake in the business.

General dollar (DG) – Dollar General is taking steps to find a potential successor to CEO Todd Vasos, according to people familiar with the matter who spoke to Reuters. The sources say Vasos had not communicated any intention to leave the discount retailer when his contract expires in June, calling the process “good governance.”

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