Feb 27, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Best Buy, Microsoft, Etsy, Box, Square & more

Peter Schacknow

Take a look at some of the biggest movers in the premarket:

Best Buy (BBY) – The electronics retailer reported quarterly profit of $2.90 per share, 15 cents a share above estimates. Revenue and comparable-store sale also beat forecasts. Best Buy expects the coronavirus to be a short-term disruption, although it said it cannot determine the exact impact as yet.
Keurig Dr Pepper (KDP) – The beverage maker matched forecasts with quarterly earnings of 35 cents per share, although revenue was slightly below estimates. Separately, the company announced a long-term agreement with Nestle to manufacture and distribute Starbucks-branded K-Cup pods in the U.S. and Canada.
Microsoft (MSFT) – Microsoft said it did not expect to meet prior guidance for its personal computing segment, due to supply chain disruptions related to the coronavirus outbreak.
Booking Holdings (BKNG) – Booking Holdings reported quarterly earnings of $23.30 per share, beating the consensus estimate of $22.04 a share. The operator of Priceline and other online travel services also saw revenue beat estimates but issued lower-than-expected current-quarter guidance as the coronavirus outbreak impacts travel demand.
Box (BOX) – Box beat estimates by 3 cents a share, with quarterly profit of 7 cents per share. The online storage software company’s revenue beat estimates as well, as demand for cloud services in general continues to accelerate.
Marriott (MAR) – Marriott reported quarterly profit of $1.57 per share, 10 cents a share above consensus. The hotel chain’s revenue came in below Wall Street forecasts, however, and Marriott said it cannot fully estimate the financial impact of the coronavirus.
Square (SQ) – Square came in 2 cents a share ahead of estimates, with quarterly profit of 23 cents per share. The mobile payments technology company saw its user base numbers surge compared to a year earlier.
Etsy (ETSY) – Etsy beat estimates by 9 cents a share, with quarterly earnings of 25 cents per share. The online crafts marketplace also reported better-than-expected revenue and Etsy predicted 2020 revenue growth of 27% to 30%.
L Brands (LB) – L Brands earned $1.88 per share for its latest quarter, 2 cents a share above estimates. Revenue came in very slightly above Wall Street forecasts. L Brands took a nearly $700 million charge during the quarter to write down the value of its Victoria’s Secret chain, and last week sold a controlling stake in the lingerie retailer to a private-equity partnership.
Gilead Sciences (GILD) – Gilead said it would begin its own studies of a potential treatment for the coronavirus next month, as it tries to become the first drug company to sell a medicine specifically designed to treat the virus.
Anheuser-Busch InBev (BUD) – Anheuser-Busch InBev said its current-quarter profit would decline by about 10%, with the beer brewer expecting the coronavirus outbreak to significantly hit demand for its products in China.
Teladoc Health (TDOC) – Teladoc Health lost 26 cents per share for the fourth quarter, less than the 33 cents a share loss that analysts were expecting. The virtual medical care company’s revenue came in above analysts’ forecasts.

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