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Nov 13, 2019

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Nike, Apple, Alibaba and more

Peter Schacknow



Check out the companies making headlines before the bell:

Tech Data (TECD) The technology products and services distributor agreed to be acquired by affiliates of Apollo Global Management (APO) for $130 per share, or about $5.4 billion.
Canada Goose (GOOS) The outerwear maker earned 57 cents per share (Canadian) for its latest quarter, 13 cents above estimates, and revenue came in well above forecasts. Results were helped by strong revenue growth in key markets, including a doubling of sales in Asia.
Energizer Holdings (ENR)The maker of Energizer batteries and other consumer products beat estimates by 12 cents with adjusted quarterly earnings of 93 cents per share, with revenue also coming in above estimates. Sales were helped by acquisitions in the company’s battery and auto care businesses.
Luckin Coffee (LK) The China-based coffee chain lost 32 cents per share for its latest quarter, smaller than the 37 cent loss anticipated by analysts; revenue was above forecasts. The Starbucks (SBUX) rival also forecast better than expected current-quarter revenue.
Nike (NKE) Nike products will no longer be available for sale on Amazon.com (AMZN), with Nike saying it had decided to focus on its own direct-sales business.
SmileDirectClub (SDC) -SmileDirectClub posted a quarterly loss of 83 cents per share, smaller than the 98 cent per share loss that Wall Street was expecting. The dental products maker also saw revenue come in better than expected, but noted that losses will continue this quarter as expenses climb.
Apple (AAPL)Apple was rated “outperform” in new coverage at RBC Capital, which said Apple has avenues for deeper integration into its customers’ lives.
Tilray (TLRY) – Tilray lost 34 cents per share for the third quarter, 5 cents more than analysts were anticipating, though the cannabis producer did see revenue beat Wall Street estimates. Tilray revenue quintupled from a year earlier, as it added new business lines and products.
Tesla (TSLA) – The automaker plans to build its first European factory in Berlin, Chief Executive Officer Elon Musk said on Tuesday.
Alibaba (BABA) – The China-based e-commerce retailer is expected to launch its $15 billion Hong Kong IPO in the last week of November, sources told CNBC. The timing is unclear, though, as Reuters reported that the listing could come as soon as this week, but Hong Kong’s ongoing protests could also push it beyond November.
Datadog (DDOG) – Datadog lost 4 cents per share for the third quarter, smaller than the 14 cent loss expected by Wall Street, and the enterprise software also saw revenue exceed analyst estimates. Datadog, which went public in September, also gave an upbeat current quarter forecast.
ADT (ADT)ADT reported better than expected results for its latest quarter, and the provider of fire and security systems also declared a one-time special dividend of 70 cents per share.
CyberArk Software (CYBR) – The cybersecurity software company announced its intention to offer $500 million in convertible debt, subject to market conditions.
United Airlines (UAL) – United was rated “buy” in new coverage at UBS, which said the carrier had superior cost management compared to its rivals that could support profit margin expansion.

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