Where Main Street Meets Wall Street

Williams-Sonoma, Ulta Beauty, Salesforce: What to Watch When the Stock Market Opens Today

13


U.S. stock futures are wavering after major indexes hit another set of record highs. Investors are waiting for data on gross domestic product in the second quarter and weekly jobless figures. Here’s what we’re watching before the bell.

  • Home retailer Williams-Sonoma raised its dividend and introduced a new buyback program. Shares jumped 15% in premarket trading.
  • Looser Covid-19 restrictions are putting a gloss on Ulta Beauty ‘s stock. Shares were up 6.8% after the beauty retailer said it expects full-year net sales between $8.1 billion and $8.3 billion. Analysts had forecast about $7.9 billion.
  • Salesforce . com gained 2.7% after reporting a jump in quarterly sales. Analysts at Piper Sandler raised their price target for the business-software stock to $280 a share following the results.
  • Dollar Tree rose 4.4% after forecasting a small increase in same-store sales in the third quarter. Fellow discount retailer Dollar General lost 3.2% after saying profits and sales fell from a year before in the second quarter.
  • Snowflake shares rose 5%. The cloud-computing firm said quarterly revenues more than doubled.
  • Software company Autodesk posted a 16% rise in revenue in the second quarter but investors weren’t pleased with its guidance for the third quarter. Shares fell 7.6% premarket.
  • NetApp shares jumped 3% premarket after it said its profit rose in the first quarter of fiscal year 2022 amid strong demand for its cloud and data management products.
  • Coinbase Global slipped 1.1%. Shares of the exchange have lost about a third since the company went public in April. Last week, Coinbase said it had amassed a $4 billion cash stockpile partly in preparation for closer regulatory scrutiny.
  • Among the most actively traded stocks before the bell: AMC Entertainment . The Reddit favorite fell 0.8% premarket after having shot up in recent weeks. Fellow meme stock GameStop ticked up 0.6% after dropping 5.1% on Wednesday.
  • Carnival also changed hands more than most other stocks premarket, losing about 1%. The Delta variant could hamper cruise lines’ long-awaited recovery, a prospect that has weighed on the sector recently.
Chart of the Day

Join Our Summer Stock-Picking ContestTest your investing savvy against our Heard on the Street writers to predict the best-performing stock for the rest of 2021.



Source link

Leave A Reply

Your email address will not be published.