Sep 2, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Macy's, H&R Block, Peloton, Exxon & more

Peter Schacknow

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

Macy’s (M) – The retailer lost 81 cents per share for its second quarter, less than the $1.77 a share loss that Wall Street analysts were expecting. Revenue also beat Wall Street forecasts. Comparable-store sales fell more than expected, but Macy’s also saw a 53% jump in digital sales.
H&R Block (HRB) – The tax preparation firm reported quarterly profit of 55 cents per share, 5 cents a share above estimates. Revenue was slightly below Wall Street forecasts. Block’s results benefited from the three-month extension to tax filing season, with sales improvement for both assisted tax preparation and do-it-yourself products.
Peloton (PTON) – The exercise equipment maker was named a “top pick” at J.P. Morgan Securities, even with the shares having already tripled year-to-date, and increased its price target to a Street-high $105 per share. The firm notes strong demand for Peloton’s bicycles, but also points out that the company’s biggest challenge is keeping up with that demand.
Exxon Mobil (XOM) – The energy giant is weighing possible worldwide job cuts, according to a company representative who spoke to Reuters. Exxon said it has evaluations underway on a country by country basis, and may “right-size” its business.
AMC Entertainment (AMC) – The movie theater operator is re-opening 140 more theaters this week and plans to have about 70% of its U.S. locations open by this weekend.
Visa (V) – The payments network operator’s U.S. payment volume rose 7% in August compared to a year ago, according to a Securities and Exchange Commission filing.
Ford (F), General Motors (GM) – Auto stocks could benefit after research firm Autodata reported that U.S. sales rose above the 15 million mark in August for the first time since February.
Shoe Carnival (SCVL) – The shoe retailer reported better-than-expected earnings, but both revenue and comparable-store sales fell below Wall Street forecasts. Like many other retailers, Shoe Carnival is not currently offering forward guidance due to economic uncertainties surrounding the pandemic.
Teladoc Health (TDOC) – The virtual medical visit platform provider was raised to “buy” from “hold” at Berenberg. The firm said that Teladoc will benefit from its merger with Livongo Health, a provider of digital disease management tools, even though both stocks have declined since the announcement last month.
Nvidia (NVDA) – Bank of America Securities increased its price target on the graphics chipmaker’s stock to a Street-high $650 per share, noting attractive pricing for Nvidia’s new gaming cards.
Guess (GES) – The apparel maker lost 1 cent per share for its latest quarter, smaller than the 58 cents a share loss that Wall Street analysts were anticipating. Revenue was also better than expected, and Guess announced the resumption of its dividend.

No comments:

Post a Comment

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

Latest Post Published

From The Desk Of Fernando Guzmán Cavero

 Dear Friends:  I would like to express hereby my apologies for couldn't fulfill to be with you with my "Daily Financial News Blog&...