Search This Blog


Search Tool

Jul 14, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: JPMorgan, Delta, Alphabet, Ford, Tesla & more

Peter Schacknow

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

Delta Air Lines (DAL) – The airline posted a second-quarter loss of $4.43 per share, wider than the loss of $4.07 that analysts had been predicting. Revenue was slightly above forecasts, but Delta said it will be more than 2 years before the airline industry sees a sustainable recovery from the Covid-19 pandemic’s impact.
JPMorgan Chase (JPM) – The bank reported quarterly earnings of $1.38 per share, compared to a consensus estimate of $1.04, with revenue also above forecasts. Profit was down more than 50 percent from a year earlier as JPMorgan Chase added to its loan loss reserves to guard against potential loan defaults, but results were helped by record trading revenue.
Alphabet (GOOGL) – According to a Bloomberg report, Alphabet’s Google unit is in advanced talks to invest $4 billion for a stake in Jio Platforms, the digital arm of India-based conglomerate Reliance Holdings. Facebook (FB) and KKR (KKR) are among prominent companies that have already invested in Jio.
Ford (F) – Ford has unveiled the 2021 Ford Bronco SUV in a series of online videos, marking the Bronco’s return to the Ford lineup after an absence of 24 years.
Nokia (NOK) – The Finland-based telecom equipment maker introduced new software that allows mobile operators to upgrade their broadcasting stations to 5G from 4G without requiring a visit to their sites or replacing equipment.
Mohawk Industries (MHK) – The maker of carpets and floor covering products is being sued for alleged securities law violations, and is also under SEC investigation. Mohawk is accused of fabricating sales figures, but the company said it will “vigorously” defend itself against the charges.
Lockheed Martin (LMT) – The Chinese government said it would put sanctions on the defense contractor for selling an upgrade package to Taiwan for Patriot surface-to-air missiles. China maintains that any US arms sales to Taiwan constitutes interference in Chinese internal affairs.
Blueprint Medicines (BPMC) – Switzerland’s Roche will invest up to $1.7 billion in the U.S.-based drug maker, partnering on a treatment for certain types of cancers that mutate and accelerate tumor growth.
American Airlines (AAL) – American plans to warn pilots this week about potential furloughs, according to an audio message to pilots heard by CNBC. It would become the latest carrier to issue such a warning in the face of weak passenger demand.
Tesla (TSLA) – Piper Sandler raised its price target on the stock to a Street-high $2322 per share, citing faster than expected market share gains and an underappreciated opportunity in software.
Spotify (SPOT) – UBS downgraded the streaming service’s stock to “sell” from “buy”, saying the company’s long-term prospects are now solidly reflected in the stock’s price. The firm also thinks the benefits of an expansion in podcasting may be overstated.
Hanesbrands (HBI) – The apparel maker was upgraded to “outperform” from “neutral” at Wells Fargo Securities, which notes that basic apparel sales have been among the best performing categories as retail stores have reopened.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.