Friday’s Pre-Market: Here’s What You Need To Know Before The Market Opens

U.S. Stock futures were trading slightly higher on Friday as concerns around the economic recovery begin to stabilize.

All three major indices were trading around 0.2% higher at the time of writing.

Companies reporting earnings today include Up Fintech (TIGR), Cloopen Group Holding (RAAS) and ReneSola (SOL) before the bell, while Fortress Biotech (FBIO), Support.com (SPRT) and Sanchez Midstream (SNMP) will release their figures after the market closes.

RLX Technology (RLX) was the most actively traded stock before the bell with over 3 million shares having already changed hands at the time of writing. The company reported better than expected Q4 revenue and earnings figures earlier in the day.

Wah Fu Education (WAFU) was the strongest share in pre-market up around 143%, followed by China Liberal Education (CLEU) and Four Seasons Education (FEDU) who were up 32% and 28%, respectively.

Meanwhile, Executive Network Partnering (ENPC) lead the way downward losing 54% before the open, followed by HighPoint (HPR) down 15% and Cellect Biotech (APOP) who was 13% weaker.

In corporate earnings news, Shares of Science Applications International Corporation (SAIC) fell 12% before the bell after reporting Q4 revenues of $1.72 billion that fell short of analysts’ expectations of $1.78 billion. The company expects to generate revenues of between $7.1 billion and $7.3 billion for fiscal 2022, also lower than the $7.63 billion forecast by analysts.

NextDecade (NEXT) was trading 26% higher at the time of writing after announcing that it has executed a term sheet with Oxy Low Carbon Ventures (OLCV) for the transport and permanent storage of CO2. CEO, Matt Schatzman said, “We are pleased to be working with OLCV to design, construct, and operate a CO2 pipeline and permanent storage facility in South Texas.” NextDecade has also formed a subsidiary, NEXT Cabon Solutions, that will develop a carbon capture and storage project capable of storing more than 5 million tonnes of CO2 every year.

Shares of Momo’s (MOMO) climbed 3% in the pre-market after closing over 4% lower on Thursday. The Chinese social networking platform announced better-than-expected Q4 results, but admitted that top-line numbers continue to be negatively affected by the COVID-19 pandemic. Revenues of $581.6 million came in ahead of Street estimates of $564.9 million but declined 13.6% from the year-ago period. For Q1, Momo projects revenues between RMB3.36 billion and RMB3.46 billion, representing a year-over-year decline in the range of 3.7% to 6.5%.

Bioventus (BVS) closed 5.2% higher on Thursday after posting better-than-expected Q4 results. Adjusted earnings grew 16% year-over-year to $2.32 per share, comfortably beating analysts’ expectations of $0.23. Net sales of $98.6 million also surpassed the Street’s estimates of $98.1 million and increased 1% from the year-ago period. CEO Ken Reali said, “We look forward to potential acceleration in our multi-year growth profile fueled by continued progress in our clinical, product development and new product pipeline.”

Meanwhile, Aspira Women’s Health (AWH) was trading 7% higher before the open after rising 32% in Thursday’s extended trading session. The bioanalytical company has entered into an agreement with Dana-Farber Cancer Institute, Brigham and Women’s Hospital and Medical University Lodz to develop a specific high-risk early detection test for ovarian cancer.