Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Zoom Video, American Eagle, FireEye, Moderna & more
Zoom Video (ZM) — The video conferencing company reported earnings of 15 cents per share on revenue of $188.3 million. Wall Street was expecting earnings of 7 cents per share on revenue of $176.5 million, according to Refinitiv.
American Eagle (AEO) — The retailer’s quarterly earnings beat on the top and bottom lines, with the company citing strong customer engagement and positive traffic across brands and channel. Earnings came in at 37 cents per share, beating estimates by a penny a share. American Eagles made $1.31 billion in sales, compared to the $1.27 billion forecast by analysts.
HP (HPQ), Xerox (XRX) — HP rejected Xerox’s takeover offer. Xerox offered to pay $24 per share, comprising $18.40 in cash and 0.149 Xerox shares for each HP share. The bid “meaningfully undervalues HP and disproportionately benefits Xerox shareholders,” Chairman Chip Bergh said in a statement.
Ciena (CIEN) — Shares of the
Johnson & Johnson (JNJ) — Citi initiated coverage of Johnson & Johnson with a “buy” rating and a $163 per share price target. “Johnson & Johnson is an $82 billion revenue global behemoth that has slowly recreated itself through M&A, divestitures, internal R&D, and partnerships,” the firm said.
Marvell Technology (MRVL) — The semiconductor company rose 8% in premarket trading on Thursday after reporting strong quarterly earnings. Marvell posted earnings of 17 cents per share, topping estimates by a penny a share, according to Refinitiv. Revenue came in at $718 million, beating the $711 million forecast on the Street.
Splunk (SPLK) — The software company fell 5%
Snap (SNAP) — The social media company was upgraded to “buy” from “neutral” by MKM Partners.
BJ’s Wholesale (BJ) — The company earned 40 cents per share, in line with estimates for its quarterly earnings. Revenue beat expectations, coming in at $3.472 billion, according to Refinitiv. Same-store sales missed estimates and full-year revenue guidance was weak.
Burlington (BURL) — The retailer beat on the top and bottom lines for its quarterly earnings, however first-quarter earnings guidance was weak.
—CNBC’s Michael Bloom contributed to this report.