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Tag: Poshmark Inc

  • Shares making the largest strikes noon: Twitter, Poshmark, Rivian and extra

    Poshmark Inc. signage out of doors the Nasdaq MarketSite all the way through the corporate’s preliminary public providing (IPO) in New York, U.S., on Thursday, Jan. 14, 2021.

    Michael Nagle | Bloomberg | Getty Pictures

    Take a look at the firms making headlines in noon buying and selling.

    Twitter — Stocks of Twitter surged 22.24% after a document that Elon Musk plans to head thru with the purchase of the corporate at $54.20 according to proportion, the at the beginning agreed-upon worth. Buying and selling of the corporate’s inventory was once halted pending information round noon Tuesday.

    Rivian — Stocks of the electrical car maker shot up 13.83% after the corporate stated Monday that third-quarter manufacturing jumped 67% in comparison to the prior quarter. The corporate stays heading in the right direction to satisfy the manufacturing function it set in March after halving earlier estimates because of international provide chain problems.

    Poshmark — Stocks of the web retail web site surged 13% noon after the corporate struck a take care of South Korean web massive Naver to be obtained for approximately $1.2 billion. The merger may assist Naver deepen its achieve in on-line retail and make allowance Poshmark enlarge across the world.

    Illumina — The biotech inventory jumped greater than 9.52% after SVB Securities upgraded Illumina to outperform from marketplace carry out, mentioning the potential for new sequencing inventions known as the NovaSeq X Collection to power upside in 2024 and past, in keeping with FactSet’s StreetAccount.

    Shuttle shares — Stocks of airline and cruise line shares surged Tuesday and have been amongst leaders within the S&P 500. Those shares are unstable and delicate to special swings in markets total. Norwegian Cruise Line jumped 16.8%. Royal Caribbean and Carnival received 16.7% and 13.2%, respectively. Delta Air Traces and American Airways every complex greater than 8%.

    Gilead Sciences — Stocks of the biopharma inventory received 4.8% after JPMorgan Chase upgraded Gilead Sciences to obese. The financial institution stated buyers are undervaluing its enlargement possible and the inventory may rally just about 30%

    Domino’s Pizza — Stocks of the pizza chain rose 4.5% after UBS upgraded the inventory to shop for from impartial. The funding company stated that Domino’s must see call for cling up even supposing client spending weakens total.

    Credit score Suisse — Stocks of Credit score Suisse jumped 12.2% after whiplashing in Monday buying and selling following a document over the weekend that stated the financial institution was once assuring primary buyers of its monetary well-being amid issues.

    Tesla — Stocks of electrical car maker Tesla rose 2.9% Tuesday, rebounding from a pointy loss in Monday’s consultation after saying disappointing third-quarter supply numbers. Tesla’s inventory slumped 8% Monday, its greatest drop since June 3.

    Rocket Prescription drugs — Stocks of Rocket Prescription drugs jumped 11% after the corporate introduced plans for a $100 million inventory providing. The plan offers underwriters a 30-day alternative to buy as much as $15 million value of extra stocks.

    Common Motors — Stocks of automaker Common Motors received 8.9% after the corporate introduced gross sales rose 24% within the 1/3 quarter, rebounding from 2021 when provide chain problems hindered manufacturing.

    Ford Motor — The Detroit automaker rallied 7.7% after reporting a 16% build up in third-quarter gross sales when compared with a yr previous, in spite of September gross sales declining greater than anticipated. Ford stated new car call for “stays robust.” 

    — CNBC’s Michelle Fox, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound and Samantha Subin contributed reporting.

  • Shares making the most important strikes premarket: Rivian, Credit score Suisse, Poshmark and extra

    Take a look at the firms making headlines in premarket buying and selling Tuesday.

    Rivian — Rivian’s inventory rallied 9.3% after the electrical automobile maker introduced that third-quarter manufacturing rose 67% from the second one quarter. The corporate additionally famous it is not off course to satisfy its manufacturing objectives for the 12 months.

    Poshmark — Poshmark stocks rallied 12.1% following information that South Korean web massive Naver is buying the preferred on-line retail website for $17.90 a proportion, or kind of $1.2 billion in an all-cash deal.

    Domino’s Pizza — Stocks of the quick-service pizza eating place ticked 3.3% upper within the premarket as UBS upgraded the inventory to a purchase score and stated considerations of slowing call for for pizza are overblown.

    Credit score Suisse — Stocks of Credit score Suisse, which have been risky all the way through Monday’s buying and selling, received about 4% within the premarket. A document over the weekend stated the lender is in discussions with primary traders as considerations mount over the financial institution’s monetary wellbeing.

    Gilead Sciences — The biopharmaceutical inventory added 3.1% within the premarket after JPMorgan Chase upgraded the inventory to obese and stated stocks are recently undervalued.

    Rocket Pharmaceutical — Stocks slumped 3.7% after Rocket Pharmaceutical introduced plans for a $100 million inventory providing, giving underwriters a 30-day alternative to buy as much as $15 million value of extra stocks.

    Tesla — Tesla stocks rose greater than 3% within the premarket, regaining one of the vital sharp losses observed within the earlier consultation. The electrical automotive maker’s inventory on Monday dropped greater than 8% for its largest one-day drop since June 3. The transfer got here after Tesla reported disappointing third-quarter supply numbers.

  • South Korea’s Naver to shop for U.S. e-commerce web page Poshmark for $1.2 billion

    Rafael Henrique | LightRocket | Getty Photographs

    South Korean web massive Naver is obtaining U.S. e-retailer Poshmark for more or less $1.2 billion, the firms introduced Monday. Poshmark stocks popped up to 14% in prolonged buying and selling.

    Naver is paying $17.90 according to percentage within the all-cash deal. Poshmark closed on Monday at $15.57.

    Naver operates a seek engine, e-commerce platform and different products and services in South Korea. The corporations stated the deal will deepen Naver’s succeed in in on-line retail, whilst permitting Poshmark to go into world markets.

    Poshmark is a well-liked on-line retail web page that shall we other people store from the closets of different customers. The corporate went public in January 2021 at $42 a percentage, hitting the marketplace at a time when on-line buying groceries was once surging because of the Covid-19 pandemic and traders had been flocking to tech shares.

    Since then, the inventory has fallen sharply, tumbling along the remainder of the tech business.

    Naver and Poshmark stated they be expecting the deal to generate “important income and price synergies,” together with re-acceleration of annual income expansion past 20% within the close to time period, as advertisements reinforce monetization, investments develop out of the country and are living trade will get larger adoption.

    The deal provides to contemporary consolidation within the secondhand clothes marketplace. Etsy bought model resale app Depop for $1.62 billion final yr. Depop competes with Poshmark and different resale products and services like ThredUp.

    The corporations will host a convention name to talk about the deal at 9 p.m. ET on Monday.

    WATCH: Younger marketers flip previous garments into large cash

  • Shares making the largest strikes noon: Disney, Poshmark, Vroom and extra

    Disney Global celebrated its fiftieth anniversary in April 2022.

    Aaronp/bauer-griffin | Gc Photographs | Getty Photographs

    Take a look at the corporations making headlines in noon buying and selling Monday.

    Poshmark — Stocks of the secondhand model store jumped 17.46% after Barclays upgraded them to obese from equivalent weight. The company stated it sees greater than 40% possible upside for the inventory, particularly if customers business down in a recession.

    Disney – Stocks of the leisure corporate received 2.22% after Daniel Loeb’s 3rd Level took a brand new stake in the large. In a letter to Disney CEO Bob Chapek, the activist investor stated there’s a sturdy case that sports activities community ESPN will have to be spun off. Loeb also known as on Disney to boost up integrating streamer Hulu.

    Vroom – Stocks of automobile gross sales platform Vroom shed 10.38% after JPMorgan stated it is time to promote the corporate, which has shed greater than 80% this yr to this point. The company took a bearish stance at the used automobile business as smartly, seeing it suffering in a possible recession.

    Solidarity, AppLovin – Solidarity Device fell 7.13% after the corporate introduced that it used to be rejecting an unsolicited takeover be offering from AppLovin. As a part of the verdict, Solidarity is constant with its in the past introduced acquisition of ironSource. Stocks of AppLovin dropped 7.63%.

    Mattress Tub & Past – Stocks of Mattress Tub and Past spiked 23.88% amid a persevered meme inventory buying and selling frenzy that is lifted stocks of the store. Thus far in August, the inventory is up just about 180%.

    Power shares – Power names slumped with the cost of oil, which fell Monday after China reported susceptible financial knowledge. Valero shed %2.8, Marathon Oil slipped just about 2.78% and Chevron slumped 1.9%.

    Embecta — The diabetes-management corporate’s inventory rallied 16.53% at the again of better-than-expected quarterly effects. Embecta posted a benefit of $1.07 in step with percentage, beating a StreetAccount estimate of 87 cents in step with percentage. The corporate’s income of $291 million additionally crowned a forecast of $276.9 million.

    Moderna – Stocks of the biopharmaceutical corporate rose 3.2% after information Monday that the U.Ok. licensed Moderna’s up to date Covid-19 vaccine. The twin vaccine, which goals each the unique virus and more recent omicron variant, is predicted to be to be had to adults as a booster within the fall.

    Gilead Sciences – Gilead Sciences received 5.16% after a tribulation confirmed that its drug Trodelvy considerably progressed the whole survival price of sufferers with metastatic breast most cancers.

    Illumina – Illumina surged 8.77%, rebounding after it slipped remaining week when it reported income that ignored Wall Boulevard’s expectancies. The corporate reported quarterly effects that ignored on each benefit and income and issued an outlook that disillusioned analysts.

    Seagen – Seagen slipped just about 1% after the corporate introduced an arbitrator had dominated in choose of Daiichi Sankyo, a Eastern pharmaceutical corporate, in an issue over drug generation.

    — CNBC’s Michelle Fox, Yun Li, Jesse Pound and Tanaya Macheel contributed reporting.

  • Shares making the largest strikes premarket: Vroom, Poshmark, Revolve, Inexperienced Plains and extra

    Vroom IPO on the Nasdaq web page, June 9, 2020.

    Supply: Nasdaq

    Take a look at the firms making headlines earlier than the bell:

    Poshmark — Stocks spiked greater than 5% after Barclays upgraded the web model store to obese from equivalent weight. Poshmark gets a spice up from the fast-growing second-hand clothes market, particularly if customers industry down in a recession, Barclays mentioned.

    Vroom — Stocks dropped greater than 3% after JPMorgan downgraded the inventory to underweight from impartial, pronouncing that the web used automotive store will proceed to look demanding situations amid a broader financial slowdown. Vroom has already plunged 80% this yr.

    Revolve — The inventory fell greater than 2% following a downgrade to underweight from equivalent weight from Barclays. The funding company cited slowing earnings expansion and difficult comparisons on the outfitter corporate.

    Inexperienced Plains — Inexperienced Plains declined greater than 3% after Financial institution of The united states downgraded the inventory to impartial from purchase. The funding company mentioned the present valuation for the ethanol gas manufacturer is honest.

    TaskUs — The outsourcing corporate for content material moderation is dealing with near-term macro demanding situations, in line with Morgan Stanley. The funding company downgraded the inventory to equivalent weight from obese. Stocks fell 3%.

    Baidu, Alibaba, Pinduoduo — Stocks of Chinese language web firms declined following vulnerable financial information from China. Baidu, Alibaba and Pinduoduo every dropped greater than 1%.

    Comcast, Constitution Communications — Stocks of each broadband firms declined greater than 1% following downgrades to impartial from Atlantic Equities. The company cited worse-than-expected broadband effects from each firms.

    Greenback Common — Stocks of the bargain store have absolutely priced in recession expectancies, in line with a Monday word from BMO Capital Markets. The company downgraded Greenback Common to marketplace carry out from outperform. The inventory declined 1%.

    Disclosure: Comcast is the landlord of NBCUniversal, guardian corporate of CNBC.

  • Shares making the most important strikes noon: Peloton, Toast, Illumina and extra

    Workout apparatus and attire on the market on the Peloton showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021.

    Adam Glanzman | Bloomberg | Getty Photographs

    Take a look at the firms making the most important strikes noon:

    Peloton — Stocks of Peloton jumped 6% after the corporate informed staff it was once reducing about 780 jobs, elevating costs on some apparatus and shutting a lot of retail retail outlets.

    Illumina — The gene-sequencing era corporate dropped greater than 9% after reporting lower-than-expected second-quarter benefit and income. Illumina additionally issued an outlook that fell wanting analyst estimates.

    New York Instances — Stocks of the newspaper fell 3%, chickening out from a close to 11% rally within the earlier consultation. Thursday’s rally got here after activist investor ValueAct Capital took a 6.7% stake, pushing the writer to rate extra for subscriber-only content material.

    Toast — Stocks of the fee tech corporate jumped greater than 12% after it raised its income outlook for the yr. The corporate additionally reported a loss for the newest quarter, but it surely was once narrower than what analysts had expected.

    Rivian — Stocks of the electrical automobile maker added just about 1% after beating income expectancies in the latest quarter and posting a smaller-than-expected loss in keeping with proportion. Rivian reiterated its supply steering for the yr mentioned it expects a bigger-than-anticipated loss.

    Poshmark — The net type store noticed its stocks tumble nearly 10% after issuing weaker-than-expected income steering for the present quarter. Whilst it reported a loss in the second one quarter, gross sales beat analyst expectancies.

    Teladoc — Stocks of Teladoc received greater than 5% after DA Davidson initiated protection of the telehealth corporate with a purchase score.

    Olo — The eating place device maker plummeted 33% following a weaker-than-expected present quarter and full-year income outlook. Moreover, Olo second-quarter income overlooked expectancies.

    Alliant Power — The Wisconsin application moved nearly 2% upper after being upgraded by means of Financial institution of The united states to shop for from impartial. The company higher its value goal to $70 from $62, noting that Alliant Power is poised to be one of the most winners from the Inflation Relief Act.

    LegalZoom – Stocks rose just about 22% after the web felony platform reported quarterly effects after the bell on Thursday that beat analyst expectancies. Whilst second-quarter income climbed 9% year-over-year, the corporate reported a internet lack of $13.2 million for the quarter.

    Six Flags – Stocks of the theme park corporate began to recuperate an 18.7% loss on Thursday, up nearly 8% on Friday. Six Flags posted second-quarter income that sharply overlooked expectancies Thursday and was once downgraded by means of Keybanc on Friday to sector weight from obese.

    China ADRs — 5 China ADRs noticed their stocks fall after making use of to delist their ADRs within the U.S. China Existence Insurance coverage dropped 3%, and oil massive China Petroleum & Chemical, referred to as Sinopec, fell 2.79%. Aluminum Company of China dropped 2.6%, PetroChina fell 3.2% and a separate Sinopec entity, Sinopec Shanghai Petrochemical Co, shed 2.8%.

    — CNBC’s Carmen Reinicke, Samantha Subin, Sarah Min, Yun Li and Tanaya Macheel contributed reporting.

  • Shares making the most important strikes premarket: Fair Corporate, Rivian, Illumina and others

    Take a look at the corporations making headlines prior to the bell:

    Fair Corporate (HNST) – Fair Corporate’s inventory rose 1.6% within the premarket regardless of a wider-than-expected quarterly loss. The herbal shopper merchandise maker now sees a much wider full-year loss than up to now idea, because of price pressures, however expects growth because the 12 months is going on, together with certain adjusted income for the fourth quarter.

    Rivian Car (RIVN) – Rivian stocks fell 1% in premarket buying and selling after the electrical automobile maker widened its loss estimate for 2022. It additionally affirmed prior manufacturing steering.

    Illumina (ILMN) – Illumina tumbled 14.7% within the premarket after the gene-sequencing generation corporate reported quarterly benefit and earnings that was once less than anticipated, and issued an outlook that was once smartly in need of analyst estimates. Illumina stated a difficult financial surroundings is offsetting enlargement in using its gene-sequencing platform.

    Toast (TOST) – Toast surged 12.9% in premarket motion after the eating place cost generation corporate raised its full-year income outlook. Toast reported a quarterly loss, but it surely was once narrower than analysts had predicted, with Toast noting a report selection of new places the use of its generation.

    Poshmark (POSH) – Poshmark fell 1.4% within the premarket after the web model store issued weaker earnings steering than anticipated for the present quarter. Poshmark reported a loss for its newest quarter on larger advertising and marketing and analysis and construction bills, however gross sales have been larger than analysts had expected.

    Wheels Up (UP) – The non-public jet corporate’s inventory added 2% in premarket motion after it reported better-than-expected quarterly earnings, even supposing its loss was once moderately wider than expected. Wheels Up additionally noticed a 16% leap in energetic customers.

    Olo (OLO) – Olo plunged 33% in premarket buying and selling after the eating place device maker issued a weaker-than-expected present quarter and full-year earnings outlook.

    LegalZoom (LZ) – LegalZoom added 2.1% within the premarket after the purveyor of on-line prison bureaucracy reported larger than anticipated quarterly income.

  • Shares making the most important strikes after hours: Rivian, Toast, Poshmark and extra

    R.J. Scaringe, Rivian’s CEO, introduces the arena to his corporate’s R1T all-electric pickup and all-electric R1S SUV on the Los Angeles Auto Display in Los Angeles, California, November 27, 2018.

    Mike Blake | Reuters

    Take a look at the corporations making headlines after the bell: 

    Rivian Car — The electrical car maker rose 3.1% in after-hours buying and selling after beating income estimates and posting a smaller-than-expected loss in the newest quarter. Rivian reaffirmed its supply estimates for the 12 months however mentioned it expects a bigger loss than expected because it grapples with provide chain constraints.

    Toast — Toast soared greater than 10% in prolonged buying and selling after sharing sure steering for the present quarter and entire 12 months. Income for the newest quarter got here in at $675 million, topping the $651 million anticipated by way of analysts surveyed by way of Refinitiv.

    Poshmark — Poshmark slid 5.7% post-market after reporting a wider-than-expected loss in its most up-to-date quarter. Poshmark crowned income estimates however gave a vulnerable income outlook for the present quarter.

    Illumina — Illumina slumped just about 23% postmarket after the corporate overlooked top- and bottom-line estimates in the latest quarter and issued disappointing steering for the whole 12 months because it faces a difficult macro atmosphere.

    Olo —Olo tumbled greater than 21% in prolonged buying and selling after the eating place device corporate equipped vulnerable steering for the present quarter and the whole 12 months. The corporate quite beat profits estimates however fell in need of income expectancies.

  • Shares making the most important strikes noon: Twitter, Confirm, Robinhood and extra

    Buyers paintings at the ground of the New York Inventory Alternate. 

    NYSE

    Take a look at the corporations making headlines in noon buying and selling.

    Twitter — Stocks of the social media platform slid 9.7% after Elon Musk mentioned his take-private deal is on hang till he receives extra details about what number of faux accounts there are on Twitter. Nonetheless, Musk mentioned he was once “nonetheless dedicated to the purchase.”

    Confirm — Stocks of the buy-now, pay-later lender surged 31.4% after Confirm beat expectancies for its fiscal 1/3 quarter. The corporate reported a lack of 19 cents in line with percentage on $355 million of earnings. Analysts surveyed via Refinitiv had penciled in a lack of 51 cents in line with percentage on $344 million of earnings. Confirm additionally introduced a multiyear extension of its partnership with Shopify.

    Robinhood — Stocks of the making an investment app jumped 24.9% on Friday after the CEO of crypto change FTX, Sam Bankman-Fried, picked up a 7.6% stake in Robinhood for $648 million after the inventory hit an rock bottom this week. His new place makes him the third-largest shareholder within the corporate.

    Duolingo — Stocks surged 34% after the language device corporate posted better-than-expected quarterly income and earnings. Duolingo issued upbeat quarterly earnings steerage, and reported all-time prime energetic consumer numbers.

    Figs — Figs stocks fell 25% at the again of disappointing quarterly effects. The health-care attire maker posted a benefit of five cents in line with percentage on earnings of $110.1 million. Analysts anticipated income of 6 cents in line with percentage on gross sales of $117.3 million, in keeping with StreetAccount. The corporate additionally issued weaker-than-expected earnings steerage for the yr.

    Krispy Kreme — Stocks of the doughnut chain popped 10.4% after an improve from HSBC. “We predict extra pricing and better scale as a result of an competitive level of get entry to enlargement will stay income expectancies on the right track,” HSBC mentioned. 

    Toast — Stocks of Toast added 4.9% after the tech and bills platform for eating places reported a loss for its most up-to-date quarter that was once narrower than anticipated via Wall Boulevard analysts. The corporate additionally issued upbeat earnings steerage for the yr.

    Poshmark — Poshmark rose 23.9% after the corporate reported a quarterly lack of 18 cents in line with percentage. Wall Boulevard analysts anticipated a lack of 22 cents in line with percentage, in keeping with Refinitiv. Income for the quarter of $90.9 million additionally beat estimates of $87.5 million.

    The Truthful Corporate — Stocks of The Truthful Corporate have been up 8.2% after the maker of private care and family merchandise reported a quarterly loss and earnings that have been consistent with analyst expectancies. The corporate additionally reiterated its full-year earnings steerage.

    Ford Motor — Stocks of the carmaker added 8.5% after Morgan Stanley upgraded the inventory to equivalent weight from underweight, announcing the marketplace is underestimating positive portions of the corporate’s industry.

    — CNBC’s Jesse Pound, Sarah Min, Yun Li and Hannah Miao contributed reporting

  • Shares making the most important strikes premarket: Twitter, Confirm, Robinhood and extra

    Take a look at the firms making headlines earlier than the bell:

    Twitter (TWTR) – Twitter tumbled 14.6% in premarket buying and selling after Elon Musk tweeted that his deal to shop for the corporate used to be “quickly” on cling, as he awaits main points at the collection of pretend and junk mail accounts at the platform.

    Confirm Holdings (AFRM) – Confirm reported a quarterly lack of 19 cents consistent with percentage, smaller than the 51 cent loss that analysts had been expecting, with the fintech corporate’s earnings beating forecasts. Confirm additionally raised its full-year earnings outlook and introduced the extension of its ongoing partnership with e-commerce platform operator Shopify. The inventory rocketed 33.8% upper within the premarket.

    Robinhood Markets (HOOD) – Robinhood soared 22.4% in premarket buying and selling after Sam Bankman-Fried – who based cryptocurrency alternate FTX – published a 7.6% stake in a regulatory submitting. The acquisition makes him the 3rd greatest shareholder within the buying and selling platform corporate.

    Toast (TOST) – Toast added 3.2% within the premarket after the restaurant-focused know-how platform corporate reported a smaller than anticipated quarterly loss in addition to earnings that beat Side road forecasts. It additionally raised its full-year earnings forecast, as extra eating places undertake Toast’s know-how.

    MicroStrategy (MSTR) – MicroStrategy rallied 13.9% in premarket motion in what is been a risky week for the industry analytics corporate. MicroStrategy, which has in depth bitcoin holdings, noticed its inventory fall greater than 25% on each Monday and Wednesday earlier than emerging the day past.

    Roper Applied sciences (ROP) – The tool and engineered merchandise corporate is close to a deal to promote its process-technology unit to personal fairness company Clayton Dubilier & Rice for approximately $3 billion, in step with other folks accustomed to the subject who spoke to Bloomberg.

    The Fair Corporate (HNST) – The Fair Corporate’s inventory rose 3.1% in premarket buying and selling after it reaffirmed its full-year earnings outlook. The private care and family merchandise corporate additionally reported a quarterly loss and earnings numbers that had been each consistent with Wall Side road forecasts.

    Duolingo (DUOL) – The language tool supplier’s inventory surged 15.3% within the premarket after it reported a narrower quarterly loss and higher than anticipated earnings. Duolingo stated lively consumer numbers are at an all-time prime, and it issued upbeat present quarter earnings steering.

    Figs (FIGS) – The well being care attire corporate noticed its inventory plummet 25.2% in premarket buying and selling after it overlooked estimates with its newest quarterly effects and issued weaker than anticipated full-year steering.

    Poshmark (POSH) – The web attire market operator reported a lack of 18 cents consistent with percentage, 4 cents smaller than Wall Side road had expected, with earnings additionally beating estimates. That helped ship its top off 2.1% in premarket motion, even if Poshmark issued a weaker than anticipated present quarter earnings forecast.