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Mar 19, 2019

Market Insider | Stocks making the biggest moves premarket: General Motors, Tesla, Netflix, Boeing & more

Peter Schacknow


Check out the companies making headlines before the bell:

Tesla — CEO Elon Musk has not sought pre-approval for any tweet related to the automaker since striking a settlement with the Securities and Exchange Commission (SEC), according to a filing by the commission with a judge. The SEC is seeking to hold Musk in contempt of court for alleged violation of the settlement agreement.
Netflix — CEO Reed Hastings said the video streaming service will not make its movies or TV shows available on the new video offering that Apple is expected to announce next week. Hastings said he prefers that customers view Netflix content on the company’s own service.
Boeing — Canadian officials are re-examining the approval the country gave to Boeing’s 737 MAX jets. Transport Minister Marc Garneau said that no action might be taken, but that the move was wise in light of the worldwide grounding of the aircraft following two fatal crashes in the past few months.
Revlon — Revlon said it found a “material weakness” in its financial reporting, although the cosmetics maker said it does not expect any changes to previously reported results. The company said the weakness relates to the implementation of a back end technology system.
Fox Corp. Class A, Fox Corp. Class B, 21st Century Fox Class A, and 21st Century Fox Class B — These stocks will begin trading today under new and reassigned ticker symbols and names, following the completion of Walt Disney’s purchase of Fox assets. Fox Corp. shares represent the TV and film studios, and 21st Century Fox represents Fox News and the broadcasting operation.
Booking Holdings — Booking Holdings was downgraded to “market perform” from “outperform” at Telsey Advisory Group, with Telsey pointing to increased competition for the parent of Priceline and other travel sites from the likes of Airbnb and Google.
Five Below — Five Below was upgraded to “buy” from “hold” at Loop Capital Markets, which thinks the discount retailer has improved its merchandising and execution within its stores.
Del Taco Restaurants — Del Taco reported adjusted quarterly profit of 18 cents per share, missing estimates by a penny a share. Revenue exceeded forecasts, however. The restaurant chain also gave a full-year earnings forecast of 47 cents to 52 cents per share on an adjusted basis, short of the consensus forecast of 57 cents a share.king a settlement with the Securities and Exchange Commission (SEC), according to a filing by the commission with a judge. The SEC is seeking to hold Musk in contempt of court for alleged violation of the settlement agreement.
Netflix — CEO Reed Hastings said the video streaming service will not make its movies or TV shows available on the new video offering that Apple is expected to announce next week. Hastings said he prefers that customers view Netflix content on the company’s own service.
Boeing — Canadian officials are re-examining the approval the country gave to Boeing’s 737 MAX jets. Transport Minister Marc Garneau said that no action might be taken, but that the move was wise in light of the worldwide grounding of the aircraft following two fatal crashes in the past few months.
Revlon — Revlon said it found a “material weakness” in its financial reporting, although the cosmetics maker said it does not expect any changes to previously reported results. The company said the weakness relates to the implementation of a back end technology system.
Fox Corp. Class A, Fox Corp. Class B, 21st Century Fox Class A, and 21st Century Fox Class B — These stocks will begin trading today under new and reassigned ticker symbols and names, following the completion of Walt Disney’s purchase of Fox assets. Fox Corp. shares represent the TV and film studios, and 21st Century Fox represents Fox News and the broadcasting operation.
Booking Holdings — Booking Holdings was downgraded to “market perform” from “outperform” at Telsey Advisory Group, with Telsey pointing to increased competition for the parent of Priceline and other travel sites from the likes of Airbnb and Google.
Five Below — Five Below was upgraded to “buy” from “hold” at Loop Capital Markets, which thinks the discount retailer has improved its merchandising and execution within its stores.
Del Taco Restaurants — Del Taco reported adjusted quarterly profit of 18 cents per share, missing estimates by a penny a share. Revenue exceeded forecasts, however. The restaurant chain also gave a full-year earnings forecast of 47 cents to 52 cents per share on an adjusted basis, short of the consensus forecast of 57 cents a share.

Source: CNBC

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