4 Stocks Rallying on Strong Earnings ð¥

March 2, 2022

Welcome to the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks.

Keep an eye out for our Premarket Reports moving forward and, as always, we invite you to reply to this email with your feedback, suggestions, or comments.

Today is Wednesday, March 2nd. Here's what's moving the market:

WHAT'S HAPPENING

The S&P 500 and Nasdaq fell 1.6% on Monday while the Dow slid to a 1.8% loss. The small-cap Russell 2K lost 1.9% on the session.

Futures are pointing to gains in today's session. Dow and S&P 500 futures are both up 0.7% ahead of the opening bell.

TODAY'S TOP STOCKS

Ross Stores [ROST] - Last Close: $89.55

Ross Store is trending after a strong quarterly report.

The apparel retailer reported fiscal Q4 earnings per diluted share of $1.04 on revenues of $5.02 billion. Analyst estimates anticipated EPS of $0.98 on sales of $4.95 billion, but Ross beat it by a wide margin.

The company also expects growth to slow somewhat in FY22 in comparison to 2021. Ross expects comp sales growth of 0% to 3% for the year.

However, the retailer also announced a plan to hike its dividend by $0.31 per share, and the board approved two-year share buyback that will acquire up to $1.9 billion wort of shares through fiscal 2023.

ROST is leading the S&P 500 with a 7.0% gain.

Nordstrom [JWN] - Last Close: $19.54

Nordstrom is breaking out to big gains in today's premarket.

The high-end department store reported large spikes in earnings and revenues on its Fiscal Q4 earnings report. Nordstrom reported diluted earnings of $1.23 per share on revenues of $4.49 billion late Tuesday. Both figures easily topped consensus estimates of $1.00 EPS on $3.65 billion in sales.

Nordstrom's fiscal 2022 guidance was also a surprise. It expects full-year diluted earnings of up to $3.50 and revenue growth as high as 7%.

Once thought to be a dead-end stock, Nordstrom is showing signs of life, and share prices are rebounding in a big way.

JWN is one of today's top premarket performers with a 31.5% gain.

SoFi Technologies [SOFI] - Last Close: $11.20

A strong earnings report is lifting shares of SoFi Technologies in today's pre-bell session.

The socially-conscious financial firm reported better-than-expected figures for both earnings and revenues in their Q4 earnings report released late Tuesday. The company earned $0.15 per diluted share on sales of $285.6 million for the quarter.

SoFi reported that it added 523,000 members during the quarter, marking a 39% spike from Q3's totals. Management says it expects revenues to grow at a 30% to 32% YoY rate in the upcoming quarter. For the full year, SoFi is expecting revenue growth of 55%.

SOFI's strong full-year guidance and sales growth is rallying shares in the premarket. The stock is up 15.5% on active trading volume.

IsoPlexis Corp. [ISO] - Last Close: $4.48

IsoPlexis rounds out today's list with another post-earnings report rally.

The life sciences company reported its full-year and Q4 2021 numbers this morning, and investors like what they see. IsoPlexis reported revenues of $5.5 million for the quarter, marking a whopping 63% increase from the year-earlier quarter.

Although the company also reported a wider operating loss due to its recent expansion and increased costs as a publicly-traded company, full-year revenues grew at an even more impressive 66%.

IsoPlexis expected revenues to range between $26 million to $27 million, which would represent growth of 51% to 56% respectively.

Consensus estimates weren't available for the stock but, based on the price action following the report, it's safe to say the numbers were better than the market expected.

ISO is trading actively with a 26.1% gain in today's premarket.

RUNNING HOT

Gainers

Guardian Health [GHSI] >> +22.9%
Ecmoho Ltd [MOHO] >> +63.5%
CooTek Cayman [CTK] >> +20.2%

Decliners

Karyopharm [GDRX] >> (26.9%)
Gohealth [SMLR] >> (24.1%)
AKA Brands Holdings [AMBA] >> (22.5%)

EARNINGS

Dollar Tree [DLTR] ... AM
Victoria's Secret [VSCO] ... AM
American Eagle Outfitters [AEO] ... PM
Splunk [SPLK] ... PM
Veeva Systems [VEEV] ... PM
Snowflake [SNOW] ... PM

ECONOMY

ADP Employment [Feb] .... 8:15a
Beige Book ... 2p

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Wishing you big returns on your investments this week, as always!

- Michael "The Dork" Taylor

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