Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Walmart, Apple, DuPont, Medtronic & more
Walmart (WMT) – The retail giant reported quarterly profit of $1.38 per share, missing estimates by 5 cents a share. Revenue also fell short of forecasts, and Walmart gave a full-year forecast that was short of the Street's outlook. CFO Brett Biggs told CNBC the quarter started and ended strongly, and that the New Year has started also started off well. Separately, the retailer announced a 1.9% increase in its annual dividend to $2.16 per share.
Apple (AAPL) – Apple warned that it would not meet its prior revenue projection due to the
HSBC (HSBC) – The bank announced that it would shed $100 billion in assets, and revamp its U.S.
DuPont (DD) – The chemical maker named Executive Chairman Edward Breen as CEO, replacing Marc Doyle. Breen had been Chairman and CEO of DowDuPont prior to the company splitting into three separate entities last year.
Franklin Resources (BEN) – Franklin announced a deal to buy rival asset manager Legg Mason (LM) for $50 per share, compared to Legg Mason's Friday closing price of $40.72. Franklin will also assume about $2 billion in Legg Mason debt.
Advance Auto Parts (AAP) – The auto parts retailer reported quarterly earnings of $1.64 per share, beating the consensus estimate of $1.35 a share. Revenue was slightly below estimates, however, and a comparable-store sales increase of 1.1% was just shy of the 1.2% increase that analysts were expecting.
Medtronic (MDT) – The medical products maker beat estimates by 6 cents a share, with quarterly earnings of $1.44 per share. Revenue came in below Street forecasts. Medtronic also raised its full-year adjusted earnings forecast to $5.63-$5.65 per share, compared to a consensus estimate of $5.60 a share. The company warned the
Xerox (XRX) – Xerox plans to host a dinner this week for shareholders of HP Inc.
General Motors (GM) – GM will exit Australia, New Zealand, and Thailand in order to cut costs and move out of what it considers
General Electric (GE) – GE could be prevented from continuing to supply engines for a new Chinese passenger jet. That's according to Reuters, which said the government is considering such a move.
Kroger (KR) – Warren Buffett's Berkshire Hathaway (BRK.B) revealed a $549.1 million stake in the grocery chain in its latest quarterly Securities and Exchange Commission filing. Berkshire also took a new stake in Biogen (BIIB), and reduced stakes in Wells Fargo (WFC) and Goldman Sachs (GS).
Pier 1 Imports (PIR) – Pier 1 filed for Chapter 11 bankruptcy protection, just a few months after the home furnishings retailer announced plans to close up to 450 stores.
Dell Technologies (DELL) – Dell is near a deal to sell its RSA