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Aug 2, 2018

Premarket moves: Stocks making the biggest moves premarket: DWDP, TSLA, NKE, SBUX, YUM & more I CNBC

cnbc.com

Stocks making the biggest moves premarket: DWDP, TSLA, NKE, SBUX, YUM & more

Peter Schacknow


Check out the companies making headlines before the bell:
DowDupont – The chemicals maker reported adjusted quarterly profit of $1.37 per share, 7 cents a share above estimates. Revenue also beating forecasts. The company also said it has now realized nearly $900 million in cost savings since the merger of Dow and DuPont last year.
Cigna – The health insurer earned an adjusted $3.89 for the second quarter, above the consensus estimate of $3.33, while revenue beat forecasts as well. Cigna was helped by higher membership numbers and increased premiums.
Tesla – Tesla lost $3.06 per share for its latest quarter, more than the loss of $2.92 per share that analysts had projected. The automaker's revenue beat estimates, and the automaker said it expects profitability on a GAAP basis during the second half of the year.
Nike – The athletic footwear maker was rated "overweight" in new coverage at Morgan Stanley, which said Nike is in position to take more market share in a high growth global activewear market, and that it is successfully transitioning from a traditional business into a retail technology company.
Starbucks – Starbucks struck a partnership deal with China e-commerce giant Alibaba to deliver its coffee in Chinese cities.
Sonos – Sonos priced its initial public offering at $15 per share, below the target range of $17 to $19 a share. The wireless speaker maker raised $38.3 million in the offering, and the shares will begin trading today on the Nasdaq.
Teva Pharmaceutical – Teva posted beats on both the top and bottom lines for its latest quarter, and raised its full-year forecast. However, sales of its flagship multiple sclerosis drug Copaxone fell nearly 50 percent in North America due to generic competition.
Regeneron Pharmaceuticals – The drugmaker reported adjusted quarterly profit of $5.45 per share for its latest quarter, beating the consensus estimate of $4.70 a share. Revenue also beat forecasts, as sales of Regeneron's flagship eye treatment Eylea rose eight percent in the U.S. and 13 percent globally.
Yum Brands – The parent of KFC, Taco Bell, and Pizza Hut earned an adjusted 82 cents per share for the second quarter, eight cents above estimates. Revenue also topped forecasts, but a same-store sales increase of one percent was shy of the 1.98 percent consensus estimate as fewer customers ate at Pizza Hut locations.
Wynn Resorts – Wynn reported adjusted quarterly profit of $1.53 per share, short of the consensus $1.96 a share estimate. The hotel and casino operator's revenue also missed forecasts, although it did see stronger results from its Wynn Palace property in Macau.
CBS – CBS has retained two law firms to investigate allegations of improper behavior against Chairman and Chief Executive Officer Leslie Moonves.
T-Mobile – T-Mobile beat estimates by 5 cents a share, with quarterly profit of 92 cents per share. The wireless carrier's revenue fell short of forecast. T-Mobile also added 686,000 new wireless subscribers during the quarter, more than Wall Street was anticipating.
TripAdvisor – TripAdvisor came in 2 cents a share above estimates, with adjusted quarterly profit of 41 cents per share. The travel website operator's revenue came up short of Street forecasts. Traffic on TripAdvisor-branded websites and apps was up 10 percent from a year earlier.
Square – Square reported adjusted quarterly profit of 13 cents per share for the second quarter, 2 cents a share above estimates. The mobile payments company's revenue also beat estimates, however Square issued weaker-than-expected current-quarter guidance.
JPMorgan Chase – JPMorgan said it is among the financial firms being probed by the Securities and Exchange Commission for their handling of American Depositary Receipts between 2011 and 2015. The bank said it is cooperating with the investigation.
U.S. Steel – U.S. Steel beat estimates by 33 cents a share, with adjusted quarterly profit of $1.46 per share. Revenue topped forecasts, as well. The company boosted prices and lifted production following the imposition of tariffs on imported steel in March.
Yum China – Yum China came in three cents above estimates with quarterly earnings of 33 cents per share, although the China-based restaurant operator's revenue was slightly shy of forecasts. Comparable store sales fell a greater than expected one percent, with analysts having anticipated a 0.6 percent decline.
Barclays – Barclays saw profits nearly triple for the second quarter, coming in above analysts' estimates, and the British bank will pay a greater-than-expected dividend.
Walmart – Walmart was sued by Silicon Valley-based Zest Labs for $2 billion. Zest claims Walmart stole its technology designed to extend the shelf life of produce. Walmart said it respects the intellectual property rights of others and would respond to the complaint in court.
Fitbit – Fitbit reported a smaller-than-expected quarterly loss, on stronger than expected sales of its newer smartwatches.