S&P futures down 0.7% in Friday morning trading after finishing mostly lower on Thursday.
Oil up, gold up and Bitcoin (BTC) down.
Here are five of today’s trending stocks:
Gap Inc (NYSE: GPS)
Clothing retailer Gap Inc (NYSE: GPS) released Q4 and full year 2021 earnings. The results were better than expected sending the GPS share price up 7% in pre-market trading. The company has been restructuring since COVID-19 caused considerable disruption to the chain.
Analyst expectations were surprised to the upside when Gap posted a -$1.78 EPS loss beating the -$2.16 predicted. While sales of $13.8bn came in below analyst projections of $14bn.
Supply chain issues continue to weigh on the group but its executive forecasts for the year ahead came in higher than expected.
FactSet analyst consensus on GPS stock is a Hold rating with a target share price of $18.38.
PayPal Holdings Inc (NYSE: PYPL)
Investors are discussing PayPal Holdings (NYSE: PYPL) on Friday, after the company’s stock fell by -4.94% during Thursday's session to settle at $101.34. Over the past year, Paypal stock has traded between $94.5 and $310.16.
The PayPal stock price is down over 48% year-to-date after disappointing Q4 earnings and bleak management outlook exacerbated the slide last month.
PayPal recently lowered its 2022 outlook and changed its user growth strategy. PayPal's recent strategy shift moves toward growing client engagement.
With the conflict in Ukraine, PayPal stopped accepting new users in Russia on Wednesday.
Grab Holdings Ltd (NASDAQ: GRAB)
Grab Holdings Ltd (NASDAQ: GRAB) stock is up 3.6% in pre-market trading after plummeting yesterday.
The Singapore-based company enables millions of people to access its driver- and merchant-partners daily via its “everyday everything” app. From here they can order food, groceries, send packages, hail a ride and more.
Last year, the company achieved outsized growth in both GMV and revenues while continuing to improve its Adjusted EBITDA margins year over year. But investors were not suitably impressed enough to stay invested.
Being based in Asia could be deterring investors as geopolitical tensions escalate with Russia’s invasion in Ukraine.
Yesterday GRAB stock closed at $3.28, down -80.8% off its 52-week high vs the subsector average change of -27.9%.
Broadcom Inc (NASDAQ: AVGO)
Broadcom Inc (NASDAQ: AVGO) stock is up 3.3% in pre-market trading. The company released upbeat earnings with takeaways focused on enterprise demand strength and continued supply tightness. The chipmaker reported record revenue in fiscal Q1 and topped analysts’ exceptions.
Highlights
Adjusted, non-GAAP Net Income: $3.74bn ($8.39 per share)
Revenue: $7.7bn (up 16% Y/Y)
Semiconductor Solutions Revenue: £5.9bn (up 20% Y/Y)
Infrastructure Software Revenue: $1.8bn (up 5% Y/Y)
Speaking on the earnings call, CEO Hock Tan said he doesn’t see the semiconductor segment as a high growth business but a business that’s always evolving. The company is looking for acquisitions but is very selective in its approach.
Our strategy in acquisitions and growing this entire Broadcom platform is more about locating, identifying very, very strong assets out there, and which are actionable, and then making a deal and buying them, and integrating in our platform.
Marvell Technology Inc (NASDAQ: MRVL)
Chip maker Marvell Technology Inc (NASDAQ: MRVL) beat analyst targets with Q4 revenue reaching $1.34bn.
Over the past year, Marvell Technology Inc (MRVL) has traded between $37.92 and $93.85. During this time MRVL stock is down by 62.59% while the S&P 500 is 15.79% over the same period of time.
Marvell ended 2021 with a $421m loss and $4.46bn in revenue. Today the MRVL share price is falling despite strong earnings and upbeat guidance. Analysts are positive on strength in cloud, hyperscale and enterprise.
Analyst Ross Seymore at Deutsche Bank Research downgraded his share price target on MRVL stock to $90, from $100 in December, while maintaining a Buy rating.