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

U.S. Stock futures were trading higher on Friday following Thursday’s sell-off as 10-year treasury bond yields pulled back from 14-month highs.

Nasdaq futures led the way higher, up 0.52% at the time of writing followed by S&P and Dow futures who were up 0.3% and 0.19%, respectively.

Companies reporting earnings today include Liquidia Technologies (LQDA), Capital Senior Living (CSU) and Wireless Telecom (WTT) before the bell, while Lexinfintech (LX), Champions Oncology (CSBR) and Intelsat (INTEQ) will release their figures after the market closes.

SenesTech Inc (SNES) was the most actively traded stock before the bell with over 10 million shares having already changed hands at the time of writing. Yesterday, the company announced the successful completion of  the deployment of ContraPest, a product responsible for reducing rat populations.

SNES was also the strongest share in the pre-market up around 92%, followed by Marker Therapeutics (MRKR) and Takung Art (TKAT) who were up 32% and 19%, respectively.

Meanwhile, Idera Pharma (IDRA) lead the way downward losing 60% before the open, followed by Nuzee (NUZE), down 21% and BSQARE (BSQR) who was 15% weaker.

In corporate earnings news, Petco (WOOF) rose 2.5% in the pre-market after posting better-than-expected Q4 results. Adjusted earnings increased 88.9% to $0.17 per share on a year-over-year basis and beat Street estimates of $0.11 per share. Net sales jumped 16% to $1.34 billion and surpassed analysts’ expectations of $1.31 billion. CEO Ron Coughlin said, “On the heels of a successful IPO in January, we closed the year with a strong fourth quarter, and that momentum has carried into 2021.”

Shares of FedEx (FDX) were trading 3.6% higher after the multinational delivery services company posted Q3 (ended Feb. 28) results that beat analysts’ expectations. Adjusted earnings more than doubled to $3.47 per share year-over-year and beat Street estimates of $3.24 per share. Revenue increased 23% to $21.5 billion and came in well ahead of analysts’ expectations of $19.96 billion.

Meanwhile, Nike (NKE) fell almost 3% before the bell despite posting better-than-expected fiscal Q3 earnings. Adjusted earnings rose 15.4% year-over-year to $0.90 per share and beat analysts’ expectations of $0.76. However, revenues of $10.4 billion missed analysts’ estimates of $11.02 billion. Revenues from China saw a 42% spike while North America and EMEA revenues decreased 11% and 9%, respectively. Direct sales increased 16% year-over-year, while digital sales surged 54%.

Galmed Pharmaceuticals (GLMD) lost $0.48 per share in Q4, worse than the $0.36 loss per share estimated by analysts and the $0.39 per share loss in the year-ago quarter. R&D costs grew 21.6% year-over-year to $9 million driven by clinical trial costs, while general and administrative expenses remained flat at $1.3 million.

Preferred Bank (PFBC) increased its quarterly dividend by 26.7% to $0.38 per share. The new dividend will be paid on April 21 to shareholders of record as of April 7. The company’s annual dividend of $1.52 per share now reflects a dividend yield of 2.34%. “We are very pleased to increase the dividend and it is a direct reflection of the strong performance of the Bank through the past year as well as expectations for the future,” said CEO Li Yu.