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Nov 6, 2019

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: CVS Health, Humana, Coty, Wendy's & more

Peter Schacknow



Check out the companies making headlines before the bell:

Capri Holdings – The Michael Kors parent earned an adjusted $1.16 per share, falling 8 cents a share short of estimates. Revenue was essentially in line with expectations. The company pointed to the impact of higher expenses and the protests in Hong Kong.
CVS Health – CVS beat estimates by 8 cents a share, with quarterly profit of $1.84 per share. The drugstore operator’s revenue also came in above estimates, boosted by strong results at its pharmacy benefit management unit and its Aetna health insurance business.
Humana – The health insurer reported quarterly profit of $5.03 per share, beating the consensus estimate of $4.58 a share. Revenue also beat forecasts, with Humana seeing stronger results in its Medicare Advantage business. Humana also raised its full-year forecast.
Coty – The cosmetics maker came in a penny a share above forecasts, with quarterly earnings of 7 cents per share. Revenue was below Wall Street forecasts, however, on slower sales in its consumer beauty business.
Wendy’s – The restaurant operator beat estimates by 4 cents a share, with quarterly profit of 19 cents per share. Revenue also came in above analysts’ forecasts. Wendy’s also raised its full-year earnings growth guidance.
William Lyon Homes – The home builder will be acquired by Taylor Morrison for $21.45 per share in cash and stock, with a total value of $2.4 billion including assumed debt. The per-share price is 16.6% above yesterday’s closing price for William Lyon.
Match – Match reported better-than-expected profit and revenue for its latest quarter, but the dating service operator’s stock is under pressure after it gave lower-than-expected current-quarter guidance. The parent of Tinder and other dating services is facing increasing competition. Match said it expects to incur about $25 million this quarter for discretionary long-term investments and legal costs.
WW International – WW beat estimates by 2 cents a share, with quarterly profit of 68 cents per share. The Weight Watchers parent saw revenue fall below forecasts and it also gave a current-quarter earnings forecast that falls largely below Street estimates. The company had 4.4 million subscribers at the end of the third quarter, down from 4.6 million at the end of the second quarter.
HP Inc. – HP is the target of a potential takeover by Xerox, according to people familiar with the matter who spoke to The Wall Street Journal. The Xerox board is said to have discussed a possible cash-and-stock offer for the computer maker Tuesday.
Altice USA – Altice reported profit of 12 cents per share, 3 cents a share below estimates. The cable operator’s revenue also came in below forecasts and Altice cut its full-year forecast as cable subscribers continue to see customers engage in cord-cutting.
Uber Technologies – The lockup on Uber shares expires today, allowing insiders to sell their shares for the first time. Selling pressure could be muted, however, with the shares having fallen to an all-time low Tuesday and putting many of those investors In the red.
Amazon – Amazon’s Echo Buds contain a hidden feature that would allow it to eventually enable fitness tracking. If that feature is indeed activated, it would be Amazon’s first foray into fitness tracking.
Cedar Fair – Cedar Fair reported profit of $3.34 per limited partnership unit, 10 cents a share below estimates. The amusement park operator’s revenue was above Wall Street forecasts, however, and CEO Richard Zimmerman said Cedar Fair is on its way to reporting the best year in the company’s history.

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