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Aug 23, 2018

Stocks making the biggest move premarket: BABA, HRL, PLCE, DECK, WSM & more I Market Insider I cnbc.


Peter Schacknow


Check out the companies making headlines before the bell:
Alibaba – The China-based e-commerce giant reported adjusted earnings of 8.04 yuan per share, below the consensus estimate of 8.15. However, revenue was above forecasts and jumped 61 percent from a year earlier. Alibaba also saw a jump of 17 million mobile monthly average users from the prior quarter, to a total of 634 million.
Hormel – The maker of Spam, Dinty Moore, and other food brands matched forecasts with quarterly earnings of 39 cents per share, with revenue essentially in line with expectations. Hormel cut its full-year sales forecast, however, noting the potential negative impact of tariffs and what it calls broader industry dynamics.
Children's Place – The children's apparel retailer beat estimates by 11 cents a share, with adjusted quarterly profit of 70 cents per share. Revenue also exceeded Street forecasts. Comparable-store sales jumped 13.2 percent, above the 8.7 percent consensus estimate of analysts surveyed by Thomson Reuters.
Deckers Outdoor – The footwear maker was upgraded to "neutral" from "negative," based on more positive wholesale trends for the company's UGG brand.
Williams-Sonoma – Williams-Sonoma reported adjusted quarterly profit of 77 cents per share, 9 cents a share above estimates. The housewares retailer's revenue and comparable-store sales also topped forecasts, and Williams-Sonoma raised its full-year revenue and comparable-sales guidance.
L Brands – L Brands came in 2 cents a share above estimates, with quarterly earnings of 36 cents per share. The Victoria's Secret parent also registered a slight revenue beat, however the company gave weaker-than-expected current-quarter earnings guidance.
Facebook – Facebook removed its Onavo Protect security app from Apple's app store, The Wall Street Journal reports the move follows a determination by Apple that Onavo violated its data collection policies. Separately, Facebook banned a quiz app called "myPersonality" which it said could have exposed the personal data of up to four million users.
JPMorgan Chase – The company is expanding its Sapphire brand to check accounts, in hopes of attracting affluent millennial customers. The high-end Sapphire Reserve credit card was introduced two years ago and has attracted millennials because of its travel perks.
GlaxoSmithKline – Glaxo cannot be sued over the suicide of an attorney who took a generic version of GSK's Paxil antidepressant medication. An appeals court overturned a verdict against the drug maker in a widely watched case focusing on whether manufacturers of a brand-name drug can be sued for harm caused by a generic version of the drug.
Synopsys – Synopsys earned an adjusted 95 cents per share for its fiscal third quarter, 3 cents a share above estimates. Revenue also exceeded forecasts. The maker of chip design software gave a better-than-expected current quarter earnings outlook amid increasing demand from semiconductor manufacturers.
Nordstrom – The retailer approved a new $1.5 billion stock repurchase program, replacing a previous program that had a remaining authorization of $327 million.