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Apple, Palantir and Novavax Fall Premarket; Callaway Rises

Stock MarketsMay 11, 2021 08:09AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Tuesday, May 11th. Please refresh for updates.

  • Apple (NASDAQ:AAPL) stock fell 2.4%. Facebook (NASDAQ:FB) was down 1.8%, Amazon (NASDAQ:AMZN) dropped 1.6%, Netflix (NASDAQ:NFLX) fell 1.7% and Alphabet (NASDAQ:GOOGL) dropped 1.3%, the mega-cap stocks down on a variety of factors, ranging from fears over monetary tightening to regulation action to tame Big Tech.  

  • Tesla (NASDAQ:TSLA) stock fell 7.2% after signs of trouble for the electric car maker in China emerged. The country’s Passenger Car Association reported a 27% drop of locally-made cars in April, while Reuters reported the company decided against acquiring more land next to its Shanghai plant.

  • Palantir Technologies (NYSE:PLTR) stock slumped 10% after the data analytics company’s net loss widened to $123.5 million in the quarter from $54.3 million a year earlier. That said, sales estimates came in ahead of expectations as it clinched more software contracts from businesses and governments across the world. 

  • Novavax (NASDAQ:NVAX) stock fell over 13% after the drugmaker pushed back its timetable for seeking Covid vaccine approvals, saying it won’t apply for regulatory approval in the U.S., U.K. and Europe until the third quarter.

  • Hanesbrands (NYSE:HBI) stock fell 11% after the apparel maker’s revenue forecast for the current quarter and full-year both fell short of expectations. It also announced a three-year plan designed to boost sales and profit margins.

  • L Brands (NYSE:LB) stock fell 2.9% after the fashion retailer said its board had approved a plan to separate the company into two independent, public companies, Bath & Body Works and Victoria's Secret, after deciding against a sale of the lingerie brand.

  • Perrigo (NYSE:PRGO) stock fell 2.6% after the maker of over-the-counter pharmaceuticals reported quarterly profit and revenue short of consensus. 

  • Simon Property (NYSE:SPG) stock fell 3.5% after the real estate owner lowered its full-year profit per share forecast, with CEO David Simon saying the company does not expect a return to 2019 occupancy levels until next year or 2023.

  • Virgin Galactic (NYSE:SPCE) stock fell 20% after the space travel company posted a first-quarter loss of $130 million, and said it was “evaluating” the timing of its next flight test.

  • Callaway Golf (NYSE:ELY) stock rose 6.9% after the golf equipment and apparel company reported better than expected first-quarter profit and sales, saying demand for its products has never been higher, one of the beneficiaries of the pandemic.

 

Apple, Palantir and Novavax Fall Premarket; Callaway Rises
 

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Comments (9)
Bobster Bambino
Bobster Bambino May 11, 2021 12:36PM ET
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Pltr bullish signal recommend putting 401k all in
Vincent Vama
Vincent Vama May 11, 2021 10:05AM ET
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Is @Musk still here on #Earth or he already went to the #Moon.... Hehe #TESLA Lol!
king michael
king michael May 11, 2021 9:40AM ET
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Short Nasdaq and semiconductor all the way to zero. Government will keep tight the policy to prevent tech especially semiconductor companies to sell to other countries owning over 50% of the market while EU, Japan, Korea, Taiwan ... are working extremely hard to take over that market. Without market and subsequently capital injection, most of US semiconductor companies will die in the next few years.
Jam Khan
Jam Khan May 11, 2021 9:33AM ET
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nice
wahid islam
wahid islam May 11, 2021 9:30AM ET
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good
SquadW Name
SquadW May 11, 2021 9:15AM ET
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buy Value stocks, they are underpriced, unlike some 'palantir' bs
Andrew Meadows
Andrew Meadows May 11, 2021 9:07AM ET
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Nobody is short here, this can really drop hard.
Louis Moore Bacon
Louis Moore Bacon May 11, 2021 9:07AM ET
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I am 100% short.
Rob Fordham
Rob Fordham May 11, 2021 9:04AM ET
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Sell in may here we go. Weird the market is selling off names that actually have the most growth and growth potential going forward tho
Joel Schwartz
Joel Schwartz May 11, 2021 9:04AM ET
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I mean, NVAX ran from $3-300. That’s just silly, even given the circumstances.
SquadW Name
SquadW May 11, 2021 9:04AM ET
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see your mistake: 'potential', you think they may revolutionize the world, but reality is different, if a company doesnt make money its most likely overpriced
Louis Moore Bacon
Louis Moore Bacon May 11, 2021 9:04AM ET
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That all narrative doesn’t apply anymore. Just like the tech boom of 2000, the pumping is done and those stocks based on potential are going to get smashed. Back to fundamentals but before everything comes down. You obviously don’t know your history.
Glenn Ebersole
Glenn Ebersole May 11, 2021 8:50AM ET
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Market has run on empty for many months...now fumes are gone...fear comes next.
Wajid Ali
Wajid Ali May 11, 2021 8:50AM ET
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In times of fear...Time to buy
Rob Fordham
Rob Fordham May 11, 2021 8:50AM ET
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U could have said same thing at any time in last 5 years so who knows
SquadW Name
SquadW May 11, 2021 8:50AM ET
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value stocks are underpriced, only tech is oversold...
 
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