Skip to main content

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Target, Lowe's, Apple, Boeing, Pfizer & more.


Peter Schacknow

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

Target (TGT) – Target reported quarterly earnings of $2.79 per share for the third quarter, well above the consensus estimate of $1.60 a share. The retailer’s revenue beat estimates as well, and a comparable-store sales increase of 20.7% beat the consensus estimate of 11.2%. Target shares rose 2.6% in premarket trading as of 7:36 a.m. ET.

Lowe’s (LOW) – Lowe’s missed estimates by a penny a share, with quarterly earnings of $1.98 per share. Revenue topped forecasts, however, and same-store sales surged 30.1%, beating the 22.8% increase analysts were expecting. The shares jumped 6% in premarket trading as of 7:36 a.m. ET.

Apple (AAPL) – Apple announced a new program to cut app store fees for smaller software developers. Beginning Jan. 1, developers who earn $1 million or less from the app store will pay a commission of 15%, compared to the standard 30% fee.

Boeing (BA) – The Federal Aviation Administration approved the return of Boeing’s 737 Max jet to service, after grounding it in March 2019 following two fatal crashes. American Airlines (AAL) will be the first to put Max commercial flights back on its schedule in late December. Shares of Boeing jumped more than 5% in the premarket.

Pfizer (PFE) – Pfizer and partner BioNTech (BNTX) said final results showed their Covid-19 vaccine candidate was 95% effective, with Pfizer planning to seek Food and Drug Administration approval for the vaccine within days. Pfizer shares gained 3% in premarket trading as of 7:36 a.m. ET.

Nio (NIO) – The China-based electric vehicle maker reported its sales more than doubled to $650 million during its latest quarter, beating analyst forecasts.

Unilever (UN, UL) – Unilever said it expects sales of plant-based meat and dairy products to reach about $1.2 billion annually within the next five to seven years. Achieving that goal would represent a quintupling of current plant-based sales for the European consumer products giant.

Goldman Sachs (GS) – Goldman is planning a second round of job cuts, according to multiple reports. That would be over and above the roughly 400 jobs it began eliminating in September. Bloomberg reports that Goldman will implement more staff reductions in the coming year, possibly leading to significant job cuts.

Reynolds Consumer Products (REYN) – Reynolds shares are rising following news that CEO Lance Mitchell bought 16,500 shares worth about $429,000. Reynolds is the company behind Hefty garbage bags, Reynolds Wrap Aluminum foil and other consumer products.

La-Z-Boy (LZB) – La-Z-Boy reported adjusted quarterly earnings of 82 cents per share, well above the 50 cent consensus estimate, with the furniture maker’s revenue also above Wall Street forecasts. Profit margins increased, and the company said current order levels are resulting in an unprecedented backlog.

Norwegian Cruise Line Holdings (NCLH) – Norwegian announced a secondary stock offering of 40 million shares at $20.80 each. The cruise line operator plans to use the money for general corporate purposes, as it tries to navigate its way through a cruise industry shutdown. The shares lost 5% in premarket trading as of 7:36 a.m. ET.

Polaris (PII) – Polaris Chief Executive Officer Scott Wine resigned to become CEO of CNH Industrial, the company behind Case and New Holland agricultural equipment. The recreational vehicle maker said it would immediately begin a search for Wine’s successor.

Tesla (TSLA) – Tesla was upgraded to “overweight” from “equal-weight” at Morgan Stanley, which also raised the price target to $540 per share from $360. Morgan Stanley said Tesla is making a shift toward generating high margin recurring software and services revenue.


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