Newell Brands, Canopy Growth, Tesla & more

The next big thing in ETFs could give a boost to long suffering active investors

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

Newell Brands (NWL) – The consumer products company reported quarterly earnings of 42 cents per share, 3 cents a share above estimates. Revenue also beat forecasts, however its full-year guidance was largely below estimates and it predicts core sales flat to down 2% for 2020.

Canopy Growth (CGC) – The Canadian cannabis producer lost 35 cents (Canadian) per share for its latest quarter, less than the 50 cents a share loss that analysts were expecting. Revenue exceeded analysts’ forecasts. Canopy Growth said it saw strong demand in the recreational market as well as increasing market share in the medical market. Its results are also boosting the shares of competitors like Aurora Cannabis (ACB) and Tilray (TLRY).

Tesla (TSLA) – The automaker’s newly announced secondary stock offering of 2.65 million shares was priced at $767 per share, according to a Securities and Exchange Commission filing.

Mattel (MAT) – Mattel reported quarterly earnings of 11 cents per share, well above the penny a share consensus estimate. The toy maker’s revenue came in just below Wall Street forecasts. Mattel benefited from the impact of a cost-cutting program, even though holiday sales were pressured by strong competition from rival Hasbro (HAS).

Expedia (EXPE) – Expedia came in 5 cents a share above estimates, with quarterly earnings of $1.24 per share. The travel website operator’s revenue was essentially in line with forecasts. Expedia is not providing a full-year outlook, due to uncertainties over how the coronavirus outbreak will affect its results.

Roku (ROKU) – Roku lost 13 cents per share for its latest quarter, a penny a share less than expected. Its sales exceeded analysts’ forecasts. The streaming video device maker also gave a full-year revenue forecast largely above current consensus as it benefits from the introduction of new streaming services.

Pinterest (PINS) – Pinterest shares are under pressure following news that Facebook (FB) has released a competing app called “Hobbi.” Pinterest told CNBC that Hobbi appears to be just a photo-saving app that does not offer the capabilities that its own app does.

Nvidia (NVDA) – Nvidia beat estimates by 22 cents a share, with quarterly profit of $1.89 per share. The graphics chip maker’s revenue also beat forecasts and the company gave an upbeat current-quarter forecast, as it continues to see strong demand from cloud computing companies.

Yelp (YELP) – Yelp missed estimates by 2 cents a share, with quarterly profit of 24 cents per share. The consumer review website operator also reported revenue that fell short of analysts’ forecasts. Yelp’s bottom line was impacted by increased spending on marketing. Yelp also added $250 million to its share buyback program and named David Schwarzbach as its new chief financial officer.

EBay (EBAY) – EBay expanded its planned 2020 stock buyback program to $4.5 billion from the prior $1.5 billion. The e-commerce platform also forecast better than expected current-quarter profit.

Royal Caribbean (RCL) – Royal Caribbean canceled 18 cruises in Southeast Asia and warned that the coronavirus outbreak would impact its full-year results. The cruise line operator said the newly announced cancellations would cut full-year earnings per share by 65 cents, and that if all Asian sailings are canceled through the end of April, earnings would be reduced by another 55 cents per share. Royal Caribbean had previously forecast adjusted 2020 earnings of $10.40 to $10.70 per share.

GoDaddy (GDDY) – GoDaddy reported quarterly earnings of 34 cents per share, 3 cents a share above estimates. The website hosting company’s revenue also came in above analysts’ expectations, boosted by an increase in revenue per user.

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