Investing

Friday's 10 Premarket Winners and Losers Include Expedia, Under Armour and Zillow

Paul Ausick

Published: February 11, 2022 8:11 am

Last Updated: February 11, 2022 8:12 am

The three major U.S. equities indexes closed lower Thursday, following the news that the consumer price index had risen by 7.5% year over year. The Dow Jones industrials closed down by 1.5%, the S&P 500 down by 1.8% and the Nasdaq down by 2.1%. Among S&P 500 stocks, losers outnumbered winners by more than six to one in Thursday trading. All 11 sectors closed lower, with the biggest declines coming in real estate (2.8%), technology (2.6%) and utilities (2.5%).

At around 7:00 a.m. ET Friday morning, S&P 500 futures, the Nasdaq and the Dow each traded down about 0.1%.

Crude oil settled at $89.88 on Thursday and traded up around 1% in early trading Friday to $90.72. The 10-year/two-year U.S. Treasury note spread ended the day at 0.42%, down 16 basis points from Wednesday’s settlement. The 10-year note settled at 2.04%, and the two-year at 1.58%. The yield curve remained unchanged in early trading Friday.

Here are the five S&P 500 stocks that closed with the largest gains on Thursday: Disney (3.35%), Micron (3.29%), Kellogg (3.11%), International Flavors & Fragrances (2.87%) and O’Reilly Automotive (2.85%).

Thursday’s biggest losers among S&P 500 stocks were Lumen (down 15.52%), Interpublic (8.77%), Zebra Technologies (7.78%), Motorola Solutions (6.98%) and PulteGroup (5.64%).

Here are the  Friday premarket winners and losers. Not all are S&P 500 stocks.

Among Friday’s premarket leaders was Zillow Group Inc. (NASDAQ: ZG), which traded up by around 15%, at $55.96 in a 52-week range of $44.08 to $212.40. The online real estate brokerage’s expected losses from its home-buying spree of last year came in below previous guidance and analysts’ expectations. The company said it bought its last homes in January and expects to have all its inventory sold by the end of the second quarter.

Earnings Results: Zillow’s fire sale of homes leads to record revenue, and the stock is surging https://t.co/GYZdK4VvSS

— ValenzuelaPost (@ValenzuelaPost) February 10, 2022

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GoDaddy Inc. (NYSE: GDDY) traded up by about 7.7%, in a 52-week range of $65.70 to $91.94. The company crushed expectations for both earnings and revenue but issued downside guidance for both the first quarter and the full fiscal year. The better news for investors was a $3 billion share buyback plan.

HubSpot Inc. (NYSE: HUBS) traded up about 5%, at $561.00 in a 52-week range of $403.00 to $866.00. The cloud-based CRM platform provider beat estimates on both profit and revenue when it reported earnings. Guidance for fiscal 2022 was in line with expectations of earnings, but above revenue estimates.

Newell Brands Inc. (NASDAQ: NWL) traded up by about 4.5%, at $22.95 in a 52-week range of $20.36 to $30.10. The maker of Rubbermaid and other consumer products reported earnings Friday morning that beat estimates on both the top and bottom lines. First-quarter guidance was a bit shy of analysts’ consensus, but revenue was guided higher. Full-year guidance also was split, with earnings coming in a little higher than estimates while revenue was slightly lower.

Expedia Group Inc. (NASDAQ: EXPE) also traded up by about 4.5%, at $206.30 in a 52-week range of $136.77 to $201.93. The high was posted Thursday before the company reported results after the closing bell. The online travel company beat on earnings but missed on revenues. Quarterly revenue in the fourth quarter totaled $2.28 billion, up from $920 million in the year-ago quarter.

Under Armour Inc. (NYSE: UAA) traded down about 3.3%, at $19.35 in a 52-week range of $17.52 to $27.28. The athletic gear maker reported quarterly results Friday morning that beat on both the top and bottom lines, while guidance for the current quarter was mixed. Revenue is expected to rise more than previously expected, but gross margin is forecast to be down by about 2%.

Nucor Corp. (NYSE: NUE) traded down about 2.4%, at $118.65 in a 52-week range of $53.74 to $128.81. A report Friday morning that the United States and Japan have reached a deal to relax tariffs on imported steel weighed on the shares.

Texas Instruments Inc. (NASDAQ: TXN) traded down by about 1.6%, at $167.97 in a 52-week range of $161.67 to $202.26. The chipmaker’s stock was just downgraded by Edward Jones from Buy to Hold.

Albemarle Corp. (NYSE: ALB) traded down about 1.3%, at $233.00 in a 52-week range of $133.82 to $291.48. The lithium miner had no specific news.

Freeport-McMoRan Inc. (NYSE: FCX) traded down about 1.0%, at $43.50 in a 52-week range of $29.45 to $46.20. The gold and copper producer had no specific news, but rising copper prices have boosted the share price by more than 15% over the past week. Friday morning’s move could be a simple correction.