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Mar 21, 2018

CNBC | Stocks making the biggest moves premarket: WGO, GIS, AAPL, MON, FDX, MULE, FB & more on March 21, 2018.

cnbc.com

Stocks making the biggest moves premarket: WGO, GIS, AAPL, MON, FDX, MULE, FB & more

Peter Schacknow

Check out which companies are making headlines before the bell:
Winnebago – The recreational vehicle maker reported adjusted quarterly profit of 62 cents per share, 1 cent a share below estimates. Revenue beat forecasts, however, and the company said it saw an increase in sales growth, market share, and profit margin during the quarter.
General Mills – The food maker beat estimates by a penny a share, with adjusted quarterly profit of 79 cents per share. Revenue also came in above consensus. However, General Mills lowered its adjusted earnings growth forecast to flat to up one percent from the prior outlook for a three to four percent increase. The company cited increasing cost pressures.
Apple – The Wall Street Journal reports that executive Jimmy Iovine will transition into a consulting role in August and step back from daily involvement in the company's streaming music business. Separately, Apple has lost its formerly dominant position in the education marketplace to Alphabet's Google unit and Microsoft, according to a report in the Washington Post. Google is now shipping 60 percent of technology to schools, with Microsoft at 22 percent. Apple's iOS is at 12.3 percent, with the MacOS at 4.7 percent.
Monsanto – The European Union approved the acquisition of the agricultural chemical company by Germany's Bayer, after Bayer agreed to a series of asset sales. The deal is still under review by U.S. officials.
FedEx – FedEx reported adjusted quarterly profit of $3.72 per share, easily beating the consensus estimate of $3.11. The delivery company's revenue also beat forecasts on the strength of higher prices and an improving economy. Daily package volume was higher by six percent during the quarter compared to a year earlier.
MuleSoft – MuleSoft agreed to be bought by Salesforce.com for $44.89 per share in cash and stock, representing a 36 percent premium over the software company's Monday close. MuleSoft stock had risen during Tuesday's session on reports that a deal was near. The total value of the deal is $5.9 billion, excluding assumed debt.
Facebook – Facebook faces an investor lawsuit over the controversial use of its data that has hit its stock over the past two trading days. The lawsuit – filed in San Francisco federal court – comes from shareholders who said they suffered losses following the disclosure that U.K.-based Cambridge Analytica had improperly obtained user information.
Nordstrom – Nordstrom has ended discussions with the retailer's founding family about taking the company private, after the two sides could not come to an agreement on price.
Tesla – The automaker's shareholders will vote today on CEO Elon Musk's compensation arrangement, based entirely on a rise in Tesla's market value over the next decade. Pension fund CalSTRS said it opposes the arrangement, saying the potential negative impact on shareholders is too large.
Johnson & Johnson — Chief Financial Officer Dominic Caruso will retire in September after 19 years with the company. He'll be succeeded by vice president of investor relations Joseph Wolk.
Steelcase – Steelcase reported quarterly profit of 24 cents per share, beating estimates by 8 cents a share. The office furniture maker's revenue also beat forecasts. Steelcase said its quarterly performance was better than it had anticipated, especially in the Americas and the Europe, Middle East, and Africa regions.
WellCare Health – The health insurer was upgraded to "outperform" from "market perform" at Wells Fargo, citing the company's progress in executing its multiyear plan to improve performance.
Match Group – Guggenheim downgraded Match to "neutral" from "buy," saying the price for the dating service's stock has reached premium levels and that it sees a lull in subscriber growth coming.