US equities are higher in Wednesday morning trading. This comes after stocks finished mostly lower on Tuesday, with tech and retail coming under some scrutiny.
Oil up, gold down and Bitcoin (BTC) up.
Here are some of today's trending stocks.
Abercrombie & Fitch Co. (NYSE: ANF)
Shares of Abercrombie & Fitch Co. (NYSE: ANF) fell by -28.58% yesterday after disappointing Q1 earnings.
This share price drop continues the company's negative momentum, which has seen the stock price fall by -49.83% over the past year. During this time, ANF stock has traded between $18.31 and $48.97.
ANF shares are up 2% in pre-market trading to around $19.48.
The Q1 results for the fiscal quarter ending April 2022 showed inflationary pressures on freight and product costs. EPS came in at -$0.27, far below the consensus of $0.01. While revenues of $812m beat FactSet estimates by 1.7%.
AcelRx Pharmaceuticals Inc (NASDAQ: ACRX)
AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) develops commercial therapies for use in medically supervised settings. The firm's portfolio includes DSUVIA, DZUVEO, Zalviso, ARX-02 and ARX-03. These treatments focus on treating moderate-to-severe acute pain with non-invasive technology.
ACRX shares are up 24% in pre-market trading to $0.28. There was no clear reason for the temporary rise other than an announcement that the company will hold its annual meeting of stockholders on 15 July 2022.
AcelRx was founded by Thomas A. Schreck and Pamela Pierce Palmer in 2005 and is headquartered in Hayward, CA.
Penn National Gaming, Inc (NASDAQ: PENN)
Penn National Gaming, Inc (NASDAQ: PENN) closed at $28.49 on Wednesday after shares fell by -8.63% during Tuesday's session.
In March 2021, Penn entered the S&P 500 but it's been a volatile ride.
Over the past year, Penn National Gaming, Inc (PENN) has traded between $27.78 and $86.40. During this time, PENN stock is down by -64.27%, while the S&P 500 is down -5.89% over the same period.
Earlier this month, Penn National Gaming reported Q1 FY22 sales growth of 22% Y/Y. Revenues of $1.56bn beat analyst consensus estimates of $1.53bn. Meanwhile, EPS of $0.29 missed the analyst consensus of $0.43.
Textron Inc. (NYSE: TXT)
Textron Inc. (NYSE: TXT) is an American industrial conglomerate based in Providence, Rhode Island. The stock is up 3.44% in pre-market trading.
Back in 2020 TXT stock traded around $23 and today it trades around $63, so it's come a long way in the past two years. However, it's prone to volatility and is down -5% in the past year.
In Q1 2022, Textron enjoyed revenue of $3bn, compared to the consensus estimate of $2.97bn. Textron had a net margin of 6.14% and a return on equity of 12.08%. Textron's quarterly revenue was up 4.2% compared to the same quarter last year.
In Q1, EPS came in at $0.88, up from $0.70 EPS Y/Y and beating analyst expectations.
Textron, Inc. is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services.
The company's financial metrics don't look too expensive, with a P/E of 18.5 and P/S of 1.1. It also offers a 0.1% dividend yield.
Snap Inc (NYSE: SNAP)
The social media giant Snap Inc (NYSE: SNAP) has traded badly in recent days, with a 43% drop yesterday after issuing a profit warning.
Year-to-date, the stock is down over 70%, falling below its IPO price. This is predominantly driven by a regulatory filing that warned the macroeconomic environment is worsening, thereby increasing the likelihood that revenues and adjusted earnings will come below its guided range.
Chief executive Evan Spiegel said although the business fundamentals remain "strong", the company, as with others, faces "rising inflation and interest rates, supply chain shortages and labour disruptions, platform policy changes, the impact of the war in Ukraine and more."
The current share price is $13.50. The 52-week range is $12.55 - $83.34. FactSet analysts' target share price is $34.69. Showing more than 100% upside.
