Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Roku, Boeing, Navistar, Guess, Netflix & more
Navistar (NAV) – The truck maker earned $1.02 per share for its fiscal fourth quarter, 6 cents a share above estimates. Its revenue came in below Wall Street forecasts, however, hurt by lower industry demand and supplier production constraints during the prior quarter.
Goldman Sachs (GS) – Wells Fargo Securities analyst Mike Mayo increased his price target on Goldman to $280 per share from $240 a share. Mayo notes an improved outlook after a year of transition including new management, and earnings estimates that are above the Street's consensus.
Boeing (BA) – Boeing will suspend production of its grounded 737 Max jet in January, after continuing delays in obtaining the necessary approvals to return the jet to service. Boeing said it would reassign workers and does not expect to furloughs or layoffs. The news could also hit shares of Boeing suppliers like Spirit AeroSystems (SPR) and General Electric (GE).
Roku (ROKU) – Roku Chief Financial Officer Steve Louden will step down from that position. The maker of streaming video devices said Louden would remain until a successor is named.
Bed Bath & Beyond (BBBY) – The home goods retailer is replacing six senior executives, with new CEO Mark Tritton saying the move would streamline the company's decision making.
Fiat Chrysler (FCAU) – The boards of Fiat Chrysler and Peugeot parent PSA Groupe are expected to meet today to talk about finalizing an agreement for a planned $50 billion merger of the two automakers.
Spark Therapeutics (ONCE) – Roche's acquisition of the drugmaker is expected to be completed today, following news that the Federal Trade Commission had approved the $4.3 billion acquisition. British regulators had given their approval earlier Monday.
Micron Technology (MU) – Wedbush upgraded the chipmaker to "outperform" from "neutral," noting an improved pricing environment for memory chips.
Guess (GES) – The apparel retailer was upgraded to "outperform" from "market perform" at Cowen, which points to new emphasis by the company on profit margins and free cash flow.
Royal Bank of Scotland (RBS) – The bank's shares are under pressure, following stress tests of Britain's biggest banks. Investors are concerned that plans to double the bank's capital buffer could put 2020 share buyback plans in jeopardy.
Meet Group (MEET) – Meet Group could become a target of ProSieben, according to a Reuters report which said the German broadcaster is exploring the acquisition of the U.S.-based live streaming app developer.
Netflix (NFLX) – Netflix's Asia-Pacific business is growing at its fastest pace in three years. That's according to a Securities and Exchange Commission filing detailing growth in the streaming service's international business.
Novartis (NVS) – Novartis abandoned its experimental asthma drug fevipiprant after it failed in late-stage trials. The drugmaker had been regarding the treatment as highly promising.
AMC Entertainment (AMC) – AMC is no longer North America's largest movie theater operator after Britain's Cineworld Group – owner of the Regal chain – struck a deal to buy Canadas Cineplex for $1.65 billion.
Unilever (UL, UN) – Unilever expects sales growth to be slightly below prior targets for the current year, although the consumer products giant has reaffirmed its earnings outlook.
Groupon (GRPN) – Goldman downgraded the deals provider to "sell" from "neutral" noting negative customer trends in both North America and internationally.