Zoom Video, Robinhood, Designer Brands and more

Take a look at some of the biggest movers in the premarket:

Zoom Video (ZM) – Zoom reported quarterly earnings of $ 1.36 per share, 20 cents per share above estimates. Revenue also exceeded forecasts, topping $ 1 billion for the first time. The growth rates have slowed from the meteoric level at the beginning of the pandemic in 2020. Shares fell 11.3% ahead of the market.

Robinhood (HOOD) – Robinhood fell another 2.8% in pre-trading hours after falling 6.9% on Monday. The trading platform operator saw its stocks under pressure after CNBC reported that PayPal (PYPL) was considering launching its own stock trading platform, as well as SEC chairman Gary Gensler’s comment that a ban on payments for the flow of orders – which is the bulk of Robinhood’s promotions matters – receipts – was “on the table”.

Designer Brands (DBI) – The shoe retailer formerly known as DSW reported quarterly earnings of 56 cents per share, compared to a consensus estimate of 24 cents per share. Sales were well above Wall Street forecasts. Similar store sales rose 84.9%, more than the 62.2% forecast by analysts surveyed by StreetAccount. Shares rose 7.5% in pre-trading.

Chico’s FAS (CHS) – The clothing retailer’s shares rose 4.5% after the company reported an unexpected quarterly profit. Chico made 21 cents a share, compared to consensus estimates of 8 cents a share. Sales were also well above estimates. Chico’s said the results were the company’s best second quarter in eight years.

Textron (TXT) – Textron gained 1.8% pre-IPO after Cowen upgraded its stock from “market performance” to “outperform”, in part due to robust demand for business jets as well as an “underestimated” opportunity in the electric helicopter market is based.

Uber Technologies (UBER) – Russian technology company Yandex (YNDX) announced a deal to buy Uber’s stakes in multiple food delivery and ridesharing joint ventures for $ 1 billion. Uber barely changed in the premarket, but Yandex gained 1.2%.

Virgin Galactic (SPCE) – Virgin Galactic’s premarket was up 3.3% after Jefferies began reporting the space company with a “buy” rating. Jefferies sees an anticipated increase in capacity from Virgin Galactic and rapidly growing demand.

Square (SQ) – According to announcements shared by some sellers and seen by TechCrunch, Square plans to launch a new paid version of its billing software called Invoices Plus. The new service offers some advanced features that have been tested in limited tests over the past year.

Support.com (SPRT) – Support.com remains on guard after rising 38% on Monday, tripling in the last week, and increasing its year-to-date gain to more than 1,500%. The tech support company’s stock is among the heavily shorted stocks that have been targeted by investors on social media. The share gained another 4.4% in pre-market trading.

Moderna (MRNA) – Moderna’s Covid-19 vaccine produced more than twice as many antibodies as the Pfizer BioNTech vaccine, according to a study published by the Journal of the American Medical Association. Moderna shares came under pressure after 1.63 million doses were suspended in Japan due to contamination concerns and two batches of vaccine were temporarily held in Gunma and Okinawa prefectures, which were eventually cleared for distribution. Moderna gained 1.4% in the premarket.

NetEase (NTES) – NetEase reported better-than-expected results for its final quarter, with the China-based online gaming company posting revenue in line with forecasts. The stock was down 3.4% on Monday as the Chinese government imposed new restrictions on online gambling. NetEase gained 2.1% in the premarket.

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