Skip to main content

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Pfizer, DuPont, Wayfair, Shake Shack & more

Peter Schacknow

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

Pfizer (PFE) – The drugmaker and partner BioNTech (BTNX) have begun the first U.S. trial of their experimental coronavirus vaccine. If successful, the vaccine could potentially be ready for U.S. distribution by the end of the year.
Alaska Air (ALK) – The airline reported a quarterly loss of 82 cents per share, smaller than the $1.13 per share loss anticipated by Wall Street. Revenue was slightly below forecasts, with Alaska Air saying demand was more than 90% below normal.
DuPont (DD) – The industrial materials maker earned 84 cents per share for the first quarter, above the 75 cents a share consensus estimate and at the high end of the company’s guidance of 82 to 84 cents a share given on April 20. DuPont also slashed capital spending plans by $500 million and raised its cost-savings target for this year to $180 million.
Mallinckrodt (MNK) – The pharmaceutical company reported quarterly earnings of $1.64 per share for its latest quarter, beating the consensus estimate of $1.43 a share. Revenue was below forecasts, however, and Mallinckrodt said the next few quarters will be “challenging” due to the impact of Covid-19.
Regeneron Pharmaceuticals (REGN) – Regeneron reported quarterly profit of $6.60 per share compared to a consensus estimate of $6.13 a share. Revenue beat Wall Street forecasts as well, boosted by increased demand for its eye drug Eylea.
Wayfair (W) – The furniture and home goods retailer lost $2.30 per share for its latest quarter, 30 cents a share less than analysts had been expecting. Revenue beat estimates. Wayfair reported 2.1 million active customers, 29% above year-ago levels.
Marathon Petroleum (MPC) – The oil refiner reported a quarterly loss of 16 cents per share, smaller than the 31 cents a share loss projected by the Street. Revenue came in above estimates, although Marathon said the Covid-19 pandemic is significantly impacting demand for the transportation fuels that it produces.
Fiat Chrysler (FCAU) – The automaker reported a larger-than-expected loss for the first quarter and missed revenue estimates as well. The automaker also said it was unable to provide guidance due to uncertainties surrounding the coronavirus outbreak, and that it remains committed to its planned merger with Peugeot parent PSA Groupe.
AMC Networks (AMCX) – The entertainment company reported quarterly earnings of $1.47 per share, missing the consensus estimate of $1.84 a share. Revenue missed forecasts as well, however AMC said it does not expect Covid-19 to impact its liquidity position or ability to pay debt. The company continues to generate significant levels of free cash flow.
L Brands (LB) – L Brands agreed to end its $525 million deal to sell a 55% stake in its Victoria’s Secret unit to private equity firm Sycamore Partners. Sycamore had sued to terminate the deal, saying L Brands had breached the terms by closing nearly all Victoria’s Secret locations without its permission. The agreement settles all pending litigation and neither side will pay a termination fee.
Shake Shack (SHAK) – Shake Shack reported quarterly earnings of 2 cents per share, beating the consensus estimate of a breakeven quarter. The restaurant chain’s revenue was shy of forecasts, however, and Shake Shack said it cannot reasonably estimate the impact of the coronavirus outbreak. It did add that demand is showing signs of rebounding.
Starbucks (SBUX) – Starbucks plans to reopen more than 85% of its U.S. stores by the end of the week, although service will be limited to pickup, delivery, and drive-thru.
Chegg (CHGG) – Chegg beat estimates on both the top and bottom lines for its latest quarter, with the online education company also giving an upbeat current-quarter forecast on the surge in in-home learning.
AIG (AIG) – AIG reported quarterly earnings of 11 cents per share, well below the consensus estimate of 72 cents a share. Revenue beat forecasts. AIG withdrew its previously issued guidance, and the insurance company said that Covid-19 would represent the largest-ever catastrophe loss for the industry.
AmerisourceBergen (ABC) – Amerisource Bergen has reportedly approached Walgreens (WBA) about a possible deal for its drug wholesaling unit. Reuters reports that the drug distributor would be willing to pay about $6 billion for the business.
Hertz (HTZ) – Hertz hired an additional adviser to help with a planned bankruptcy filing for the car rental company, according to The Wall Street Journal. Hertz is said to have hired FTI Consulting, and is also working with law firm White & Case and investment bank Moelis.
Restaurant Brands (QSR) – Bill Ackman’s Pershing Square has a 9.6% stake in the parent of Popeyes, Tim Hortons, and Burger King. Ackman feels the stock is undervalued but told CNBC he is supportive of the company’s management.
Tenet Healthcare (THC) – Tenet said the Covid-19 pandemic would have a significant impact on its current quarter results, with the hospital operator seeing patient visits to its hospitals decline significantly during the second half of March. Patient volumes have been hit by deferrals of elective procedures.
Avis Budget (CAR) – Avis Budget lost $1.33 per share for its latest quarter, less than the $1.84 per share loss that analysts were anticipating. The car rental company’s revenue was also below estimates, and it expects a continued revenue decline until a gradual recovery begins in June.


Popular posts from this blog

Analysis | The Cybersecurity 202: How the shutdown could make it harder for the government to retain cybersecurity talent

By Joseph Marks 13-17 minutes THE KEY President Trump delivers an address about border security amid a partial government shutdown on Jan. 8. (Carolyn Kaster/AP) The partial government shutdown that's now in its 18th day is putting key cyber policy priorities on hold and leaving vital operations to a bare bones staff. But the far greater long-term danger may be the blow to government cyber defenders' morale, former officials warn. With the prospect of better pay and greater job security in the private sector, more government cyber operators are likely to decamp to industry, those former officials tell me, and the smartest cybersecurity graduates will look to industry rather than government to hone their skills. That’s especially dangerous, they say, considering the government’s struggle to recruit and retain skilled workers amid a nationwide shortage of cybersecurity talent. About 20 percent of staffers are furloughed at the De

Democrats call for investigation into Trump’s iPhone use after a report that China is listening:Analysis | The Daily 202 I The Washington Post. By James Hohmann _________________________________________________________________________________ President Trump and Chinese President Xi Jinping visit the Great Hall of the People in Beijing last November. (Andrew Harnik/AP) With Breanne Deppisch and Joanie Greve THE BIG IDEA: If Democrats win the House in two weeks, it’s a safe bet that one of the oversight hearings they schedule for early next year would focus on President Trump’s use of unsecured cellphones. The matter would not likely be pursued with anywhere near the gusto that congressional Republicans investigated Hillary Clinton’s use of a private email server during her time as secretary of state. Leaders of the minority party have higher priorities . But Democratic lawmakers made clear Thursday morning that they will not ignore a New York Times report that Trump has refused to stop using iPhones in the White House, despite repeated warnings from U.S. intelligence offici

RTTNews: Morning Market Briefing.-Weekly Jobless Claims Edge Down To 444,000. May 13th 2010

Morning Market Briefing Thu May 13 09:01 2010   Commentary May 13, 2010 Stocks Poised For Lackluster Open Amid Mixed Market Sentiment - U.S. Commentary Stocks are on pace for a mixed start to Thursday's session, as a mostly upbeat jobs report continued to relieve the markets while some consternation regarding the European debt crisis remained on traders' minds. The major index futures are little changed, with the Dow futures down by 4 points. Full Article Economic News May 13, 2010 Weekly Jobless Claims Edge Down To 444,000 First-time claims for unemployment benefits showed another modest decrease in the week ended May 8th, according to a report released by the Labor Department on Thursday, although the number of claims exceeded estimates due to an upward revision to the previous week's data. Full Article May 13, 2010 Malaysia's Decade High Growth Triggers Policy Tightening Malaysia's economy grew at the fastest pace in a decade in