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Toplines Before US Market Open on Friday

Tiger Newspress2021-06-04

  • U.S. Futures, Treasuries Rise After Hiring Data
  • AMC, BlackBerry shares slip as ‘meme stock’ rally fizzles out

U.S. futures pushed higher and Treasuries rose after May’s jobs report fell short of estimates.

At 8:34 a.m. ET, Dow e-minis were down 20 points, or 0.06%, S&P 500 e-minis were up 4 points, or 0.1%, and Nasdaq 100 e-minis were up 18.25 points, or 0.13%.

*Source From Tiger Trade, EST 08:34

Job creation disappointed again in May, with nonfarm payrolls up a solid 559,000 but still short of lofty expectations.

Payrolls were expected to increase by 671,000, according to economists surveyed by Dow Jones.

The unemployment rate fell to 5.8% from 6.1%, which was better than the estimate of 5.9%.

May's letdown came after April sharply undershot expectations, with the upwardly revised 278,000 still well short of the initial 1 million estimate that came with high hopes for an economy trying to shake loose its pandemic shackles.

Stocks making the biggest moves in the premarket:

AMC Entertainment (AMC) – AMC fell 7.7% in the premarket, following the movie theater operator’s second share sale in a week to raise money. The stock had fallen almost 18% Thursday after announcing the sale, which had followed a 95% rise Wednesday and a nearly 23% gain Tuesday.

Bed Bath & Beyond (BBBY) – Bank of America Securities moved to a “no rating” on the housewares retailer, an unusual move that reflects the firm’s belief that the so-called “meme stock” is no longer trading on fundamentals. The firm also dropped coverage on GameStop (GME) for similar reasons, saying the videogame retailer’s stock is trading on non-fundamental factors. GameStop fell 1.4% in premarket trading, while Bed Bath & Beyond was little changed.Shares of Koss Corp (KOSS) and BlackBerry(BB) dropped between 1% and 5%.

Facebook (FB) – Europe and Britain launched formal antitrust investigations into Facebook on Friday to determine if the world's largest social network is using customers' data to unfairly compete with advertisers, in a new threat to its business model.Facebook Inc dropped 0.3% in premarket trading.

Lululemon (LULU) – The athletic apparel and casualwear retailer reported quarterly earnings of $1.16 per share, compared to a consensus estimate of 91 cents a share. Revenue also exceeded forecasts, as Lululemon benefited from both a return by customers to physical locations as well as a jump in e-commerce sales. It also gave an upbeat forecast.

CrowdStrike (CRWD) – The cybersecurity company beat Wall Street forecasts by 4 cents a share, with quarterly earnings of 10 cents per share. Revenue also topped analysts’ forecasts as CrowdStrike added more than 1,500 net new subscription customers.

Broadcom (AVGO) – The chip maker beat estimates by 19 cents a share, with quarterly profit of $6.62 per share. Revenue came in slightly above forecasts. Broadcom also gave a better-than-expected outlook, helped by the ongoing adoption of 5G technology.

DocuSign (DOCU) – DocuSign shares rallied 6.8% in premarket trading after the company beat Wall Street forecasts by 16 cents a share, with quarterly earnings of 44 cents per share. Revenue also beat estimates, and DocuSign gave an upbeat outlook as more companies adopt its electronic signature technology.

Five Below (FIVE) – Shares of the discount retailer jumped 5.7% in the premarket, after first-quarter profit and revenue comfortably exceeded Street forecasts. Comparable-store sales surged 162% compared to the same quarter a year ago.

MongoDB (MDB) – The database platform provider lost 15 cents per share for its latest quarter, less than half of the 37 cents a share loss expected by analysts. Revenue also exceeded estimates as subscription sales jumped 40%, and the company forecast a lower-than-expected full-year loss. The stock surged 6.2% in premarket action.

ChargePoint (CHPT) – The electric vehicle charging network’s stock rose 1.1% in the premarket, despite reporting a wider-than-expected loss for its latest quarter. Its revenue beat Wall Street forecasts, however, and ChargePoint also held to its prior 2021 revenue outlook. Shares rose 2% in the premarket.

Zumiez (ZUMZ) – The seller of apparel, footwear and athletic equipment gained 5% in premarket trading, after Zumiez surged past Wall Street’s consensus 4 cents a share estimate with first-quarter profit of $1.03 per share. Revenue also beat forecasts, with the company saying its business has recovered beyond pre-pandemic levels.

Asana (ASAN) – The maker of collaboration software saw its stock rally 8.6% in the premarket after it reported a smaller-than-expected quarterly loss while its revenue and outlook beat consensus estimates.

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  • 7427d960
    ·2021-06-04
    Good news is better than no news
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  • Meshaarias72
    ·2021-06-04
    Like & comment pls
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    • hohok
      reply comment pls
      2021-06-06
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  • CaptainJolyn
    ·2021-06-04
    [Sly] pls like and leave a comment
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    • CaptainJolyn
      hi~
      2021-06-07
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    • hohok
      reply comment pls
      2021-06-06
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  • Teslastonk
    ·2021-06-04
    Nice 
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  • MoonMoon
    ·2021-06-04
    [Miser] 
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  • Flubber
    ·2021-06-04
    Comment
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  • Evanchills
    ·2021-06-04
    Like and comment
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  • TheZaiKia
    ·2021-06-04
    Like and comment!
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  • BettyT
    ·2021-06-04
    Good news mixed with bad news.
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    • Flubber
      Comment
      2021-06-04
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    • BettyT
      Oh yes
      2021-06-04
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  • jaytoo
    ·2021-06-04
    like pls :)
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    • jiaxinn
      Comment and like pls
      2021-06-04
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    • Flubber
      Comment
      2021-06-04
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    • TheZaiKia
      Comment!
      2021-06-04
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  • justinC
    ·2021-06-04
    Ehheekjv
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  • Flashtrade
    ·2021-06-04
    Like and comment pls
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  • Zena
    ·2021-06-04
    Like and comment
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    • jaytoo
      Done! Reply back pls?
      2021-06-04
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    • TheZaiKia
      Comment!!
      2021-06-04
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  • JJCuddleOats
    ·2021-06-04
    Cool
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    • Zena
      Ok
      2021-06-04
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  • Jinyuan
    ·2021-06-04
    Like and comment
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    • Evanchills
      like and comment
      2021-06-04
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    • Jinyuan
      done
      2021-06-04
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  • CaptainMiya
    ·2021-06-04
    [Applaud] [Applaud] [Applaud] 
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  • Syxth
    ·2021-06-04
    Likes please
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  • Munyee
    ·2021-06-04
    Wow
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  • Jm2021
    ·2021-06-04
    Comment
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    • SJ_640
      ReplY thanks
      2021-06-04
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  • Bartchen
    ·2021-06-04
    Please like 
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    • BenYSLim
      Like n commented
      2021-06-04
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    • Jm2021
      comment
      2021-06-04
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