Showing posts with label Market Insider. Show all posts
Showing posts with label Market Insider. Show all posts

Nov 19, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Macy's, L Brands, Sonos, Jack In The Box & more

 

Peter Schacknow


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

Macy's (M) – The retailer lost 19 cents per share for its latest quarter, smaller than the 79 cents a share loss that Wall Street was anticipating. Revenue beat estimates, however. Same-store sales dropped 20.2%, but that was smaller than the 23.3% loss anticipated by analysts surveyed by Refinitiv. The shares fell 2% in premarket trading as of 7:35 a.m. ET.

BJ's Wholesale (BJ) – The warehouse retailer earned 92 cents per share for the third quarter, beating the 64 cents a share consensus estimate. Revenue topped estimates as well. Comparable-store sales rose 18.5%, compared to a FactSet estimate of up 16.7%. The stock lost 2% in premarket trading as of 7:35 a.m. ET.

Nasdaq (NDAQ) – The exchange operator is buying Verafin for $2.75 billion in cash. Verafin is a provider of technology designed to detect and fight financial crimes. The shares fell 3% in premarket trading as of 7:35 a.m. ET.

Nvidia (NVDA) – Nvidia reported quarterly earnings of $2.91 per share, beating the consensus estimate of $2.57 a share. The graphics chipmaker's revenue also beat forecasts, however the shares are coming under pressure after the company said data center chip revenue would fall slightly during the current quarter. Nvidia shares fell 2% in premarket trading as of 7:35 a.m. ET.

L Brands (LB) – L Brands earned $1.13 per share for its latest quarter, well above the 9 cents a share consensus estimate. Revenue exceeded estimates as well. L Brands saw record sales growth at its Bath & Body Works chain, and a rebound at its Victoria's Secret operation. The shares jumped 16% in premarket trading as of 7:35 a.m. ET.

AstraZeneca (AZN) – The drugmaker said the Covid-19 vaccine candidate being developed with Oxford University produced a strong immune response in older adults. Late-stage trials are currently being conducted to confirm those findings.

Starbucks (SBUX) – Starbucks plans to hike pay for U.S. employees by at least 10%, effective Dec. 14. The coffee chain will also raise starting pay to help attract new workers.

JOYY Inc. (YY) – JOYY is on watch once again after shares in the Chinese social media platform plummeted more than 26% Wednesday. That followed accusations by short-seller Muddy Waters that JOYY was a "multibillion-dollar fraud." JOYY responded by saying Muddy Waters was ignorant about its business and that the report contains numerous errors.

Coca-Cola (KO) – The beverage giant was ruled to have placed too much of its profit in foreign operations rather than its higher-taxed U.S. unit, according to a ruling from a U.S. Tax Court judge. The IRS has been seeking more than $3.3 billion in taxes for the years 2007 through 2009, although the ruling does not yet set an actual amount that Coca-Cola may owe. Coca-Cola has maintained that the IRS claims are without merit.

Sinclair Broadcast Group (SBGI) – Sinclair is partnering with casino operator and sports betting company Bally's (BALY) to rebrand its 21 regional sports networks under the Bally name. Sinclair had acquired regional Fox Sports networks from Walt Disney (DIS) last year, in a deal that cleared the way for Disney's purchase of 21st Century Fox's film and TV assets.

Jack In The Box (JACK) – Jack In The Box earned $1.61 per share for its latest quarter, compared to a $1.14 a share consensus estimate. The restaurant chain's revenue topped forecasts as well. Comparable-restaurant sales were up 12.2%. The shares gained 6% in premarket trading as of 7:35 a.m. ET.

Sonos (SONO) – Sonos earned 15 cents per share for its latest quarter, compared to expectations of a breakeven quarter. The maker of smart speakers and other audio equipment saw revenue beat estimates as sales jumped 15%, including 67% growth in its direct-to-consumer business. Sonos is benefiting from purchases by consumers spending more time at home amid the pandemic. The stock surged 18% in premarket trading as of 7:35 a.m. ET.

GoPro (GPRO) – The high definition camera maker is planning to raise $100 million through the sale of senior convertible notes.

Nuance Communications (NUAN) – The provider of artificial intelligence services for a variety of businesses beat estimates by 2 cents a share, with quarterly earnings of 18 cents per share. Revenue also came in above Wall Street forecasts. Nuance cited particularly strong results in its cloud-based health care industry solutions, among other factors.

Nov 18, 2020

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.

Nov 17, 2020

Market Insider | Biggest Moves in the Premarket: Stocks making the biggest moves in the premarket: Home Depot, Tesla, Amazon, Baidu & more

 

Peter Schacknow


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

Walmart (WMT) – The retail giant earned $1.34 per share for the third quarter, compared to a consensus estimate of $1.18a share. Revenue beat forecasts as well. Walmart’s comparable-store sales also rose more than expected. The shares gained 0.8% in premarket trading as of 7:35 a.m. ET.

Home Depot (HD) – Home Depot reported third-quarter earnings of $3.18 per share, 12 cents a share above estimates. Revenue came in above Wall Street forecasts. Same-store sales jumped 24.1%, compared to the 16.9% increase predicted by analysts polled by FactSet. Home Depot is also making some temporary compensation enhancement programs permanent, adding about $1 billion per year to employee costs. The shares fell 2% in premarket trading as of 7:35 a.m. ET.

Amazon.com (AMZN) – Amazon announced the launch of “Amazon Pharmacy” in the U.S. as of today, allowing customers to order prescription drugs online and giving discounts to Prime members. The news is pressuring shares of traditional drug store retailers like Walgreens (WBA), CVS Health (CVS) and Rite Aid (RAD). Amazon shares added 2.5% in premarket trading as of 7:35 a.m. ET.

Kohl’s (KSS) – The retailer posted a profit of 1 cent per share, compared to analysts’ forecasts of a 43 cents per share loss. Revenue was slightly below forecasts, however, and comparable stores fell a greater-than-expected 13.3% as the pandemic reduced foot traffic in its stores. The shares fell slightly in premarket trading as of 7:35 a.m. ET.

Tesla (TSLA) – Tesla will join the S&P 500 prior to the open of trading on Dec. 21. It’s among the highest-valued companies ever to enter the benchmark index, and its current market cap of about $387 billion makes it more valuable than 95% of the companies currently in the S&P 500. The shares surged 13% in premarket trading as of 7:35 a.m. ET.

Costco (COST) – Costco declared a $10 a share special dividend, payable to shareholders of record as of the close of business on Dec. 2. It’s the fourth time in eight years that the warehouse retailer has paid a special dividend. The shares rose 1.9% in premarket trading as of 7:35 a.m. ET.

Baidu (BIDU) – Baidu reported better-than-expected quarterly earnings and revenue, as ad spending on Baidu’s internet search platform rebounded from a slump caused by Covid-19 lockdowns. The China-based company also said it will buy streaming platform YY Live from social media company JOYY for about $3.6 billion. The shares lost 2% in premarket trading as of 7:35 a.m. ET.

NXP Semiconductor (NXPI) – NXP has entered into a strategic partnership with Amazon’s cloud computing unit, designed to help cars communicate with data centers. NXP is one of the biggest suppliers of chips to automakers. The shares fell 1.5% in premarket trading as of 7:35 a.m. ET.

Pfizer (PFE) – Pfizer launched a pilot delivery program for its Covid-19 vaccine candidate in four states, as it seeks to address distribution issues. The Pfizer vaccine needs to be stored at -94 degrees Fahrenheit, significantly colder than most vaccines.

GameStop (GME) – GameStop is being pushed to conduct a strategic review by Chewy (CHWY) co-founder Ryan Cohen, who holds a nearly 10% stake in the videogame retailer. Cohen sent a letter to GameStop’s board saying the company’s business model is outdated and wants it to reduce the number of brick-and-mortar stores.

Berkshire Hathaway (BRK.B) – Berkshire has taken stakes in AbbVie (ABBV), Bristol-Myers (BMY), Merck (MRK) and Pfizer (PFE), according to the company’s quarterly Securities and Exchange Commission 13-F filing. Berkshire also took a stake in wireless carrier T-Mobile (TMUS).

Cinemark (CNK) – The movie theater chain has signed a deal with Comcast’s (CMCSA) Universal Pictures unit, allowing movies to be distributed digitally once they’ve been in theaters for three weekends. That will extend to five weekends if a movie grosses more than $50 million domestically during its first weekend. Universal struck a similar deal with movie theater chain AMC Entertainment (AMC) earlier this year.

SmileDirectClub (SDC) – SmileDirectClub lost 11 cents per share for its latest quarter, smaller than the 14 cents a share loss that Wall Street was expecting. The dental aligner maker’s revenue also topped forecasts. The company said it is seeing broader acceptance of telehealth in general and teledentistry in particular.

Keurig Dr Pepper (KDP) – Mondelez (MDLZ) and private-equity firm JAB will sell a total of 60 million Keurig Dr Pepper shares, in a move that reduces Mondelez’s stake in the beverage company to 8.4%.

Nov 16, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Moderna, Casper Sleep, Uber, Tapestry & more

 

Peter Schacknow


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

Moderna (MRNA) – The drugmaker said the first analysis of phase 3 study data showed its experimental Covid-19 vaccine had an efficacy rate of 94.5% and saw no significant safety concerns. Moderna also said the vaccine will stay stable at refrigerated temperatures for 30 days, up from a prior estimate of 7 days. Shares of Moderna jumped nearly 15% in premarket trading.

Casper Sleep (CSPR) – Casper Sleep lost 40 cents per share for the third quarter, wider than the 33 cents a share loss that analysts were expecting. The mattress and bedding maker’s revenue came in short of estimates, hurt by Covid-related supply chain disruptions. Shares of Casper slid more than 11% in the premarket.

Palo Alto Networks (PANW) – The cybersecurity company earned an adjusted $1.62 per share for its latest quarter, compared to a consensus estimate of $1.33 a share. Revenue topped estimates as well. Palo Alto also raised its full-year earnings and revenue forecast, with the company saying product enhancements are boosting demand. The company’s shares rose 2% in premarket trade.

JD.com (JD) – The China-based e-commerce company beat estimates on both the top and bottom lines for the third quarter, as online orders remained strong even after coronavirus-related restrictions were lifted in China. Shares of JD.com slid about 2%.

Walmart (WMT) – Walmart resumed counting and monitoring the number of customers in its stores at any one time. The retail giant has had customer limits in place since April due to Covid, but had not been physically counting them in recent months. Separately, Walmart is selling its majority stake in Japanese supermarket chain Seiyu to KKR (KKR) and e-commerce company Rakuten for more than $1 billion. Walmart will keep 15% of Seiyu, with KKR holding 65% and Rakuten 20%. Walmart shares edged up 1% in the premarket.

Simon Property Group (SPG) – Simon will buy rival mall operator Taubman Centers (TCO) in a revised takeover deal worth $43 per share. That’s down from an original deal worth $52.50 per share, struck in February before the full impact of Covid-19 on retailers took hold. Simon Property shares were up 7% in premarket trade.

PNC Financial (PNC) – PNC is buying the U.S. unit of Spanish banking company BBVA (BBVA) for $11.6 billion in cash. The deal is the second biggest US banking transaction since the 2008 financial crisis, trailing only last year’s acquisition of SunTrust Banks by BB&T for $28.2 billion. The transaction represents an unwinding of BBVA’s 2007 acquisition of Alabama-based Compass Bancshares. PNC shares rose 4%, while BBVA shares soared nearly 19% in premarket trading.

Caesars Entertainment (CZR) – British billionaire Fred Done, the largest stakeholder in British betting firm William Hill, will back the planned $3.7 billion takeover of the company by Caesars, according to a report in the Telegraph newspaper. Caesars shares rose more than 3% in the premarket.

Uber Technologies (UBER) – Uber is in talks to sell its autonomous driving unit to self-driving car startup Aurora, according to multiple reports. The talks are said to be ongoing with no certainty that a deal will be reached. Uber shares rose 3% in premarket trading.

Western Union (WU) – Western Union will suspend money transfers to Cuba, following a White House move to ban transfers that are sent through military-controlled companies like Western Union’s main Cuban partner Fincimex. Western Union shares rose more than 1% in the premarket.

Qualcomm (QCOM) – The chipmaker received permission from the U.S. government to sell 4G mobile chips to China’s Huawei, in an exception to an ongoing ban that took effect in September. Shares were little changed in the premarket.

Tapestry (TPR) – The company behind the Coach and Kate Spade luxury brands was upgraded to “overweight” from “neutral” at JPMorgan Chase. JPMorgan cited confidence in healthy earnings growth following a meeting with management, and sees the stock’s current price as undervalued. Tapestry shares rose 6% in the premarket.

Activision Blizzard (ATVI), Take-Two Interactive (TTWO) – Evercore began coverage of both videogame makers with “outperform” ratings, citing a rich pipeline of games and growing user engagement by the industry. The companies’ shares were nearly flat in the premarket.

Nov 12, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Moderna, Energizer Holdings, Alibaba, Nike & more

 

Peter Schacknow


Medical syringes are seen with Moderna company logo displayed on a screen in the background in this illustration photo taken in Poland on October 12, 2020.

Medical syringes are seen with Moderna company logo displayed on a screen in the background in this illustration photo taken in Poland on October 12, 2020.

Jakub Porzycki | NurPhoto | Getty Images

Check out the companies making headlines before the bell:

Energizer Holdings (ENR)The maker of batteries and other consumer products reported adjusted quarterly profit of 59 cents per share, short of the 81 cent consensus estimate.  Energizer’s revenue did beat estimates, but the company said it incurred higher COVID-related costs to help it meet the needs of its customers and employees.  Energizer also announced a 7.5 million share buyback program.  Separately, Energizer announced that CEO Alan Hoskins will retire on January 1, replaced by current President/COO Mark LaVigne. The shares lost 4.6% in premarket trading as of 7:35 a.m. ET.

Edgewell Personal Care (EPC)The maker of razors and other personal care products beat estimates by 2 cents with adjusted quarterly earnings of 59 cents per share, with revenue beating estimates as well.  The company behind brands such as Schick, Wilkinson, Edge and Playtex also said it expects sales for fiscal 2021 to increase in the mid-single digit range.

Moderna (MRNA) – The drugmaker said it had enough data from a late-stage trial of its COVID-19 vaccine candidate to begin a planned interim analysis.  Moderna did not specify when it planned to release data on the vaccine’s effectiveness. The shares were up 3% in premarket trading as of 7:35 a.m. ET.

Alibaba (BABA) – Alibaba reported record Singles Day sales of about $75 billion, with the event actually extending over several days this year.  Alibaba shares have been under pressure on concerns about new regulations for tech companies and the postponement of Alibaba affiliate Ant Group’s initial public offering.

Nike (NKE)Nike was rated “outperform” in new coverage at RBC Capital Markets, which calls the athletic footwear and apparel maker a “best-in-class global athletic play” and predicts a faster than expected recovery from COVID-related disruption.

Jaws Acquisition (JWS) – Jaws Acquisition is merging with primary-care medical center operator Cano Health and taking it public in a deal that values Cano at $4.4 billion.  Jaws Acquisition is a special purpose acquisition company backed by Starwood Capital Group founder Barry Sternlicht.

Brookfield Asset Management (BAM)The alternative asset management company reported quarterly funds from operations of 65 cents per share, compared to a 48 cent consensus estimate, with revenue also beating forecasts.  Brookfield also intends to distribute a special dividend in the form of a newly created unit called BAM Reinsurance, with a value of 33 cents per share. 

Salesforce.com (CRM)The business software giant was downgraded to “equal-weight” from “overweight” at Morgan Stanley, which said the dynamics of the company’s subscription model may pressure earnings and free cash flow in the near term. The shares lost 2% in premarket trading as of 7:35 a.m. ET.

Wells Fargo (WFC) – Wells Fargo is exploring the sale of its private-label credit card unit, according to people with knowledge of the matter who spoke to Bloomberg.  Wells Fargo is said to have begun reaching out directly to possible bidders. 

Qiagen (QGEN) – Qiagen said it would begin selling a portable COVID-19 test in the United States, with that test able to process up to 30 swab samples in 15 minutes.

Vroom (VRM) – Vroom posted a smaller than expected loss for its latest quarter, with the online used car seller also reporting better than expected revenue.  However, the company gave a weaker than expected current quarter forecast, expecting losses to widen. Shares dropped 11% in premarket trading as of 7:35 a.m. ET.

Fossil (FOSL) – Fossil shares are surging after the maker of watches, handbags and other luxury goods swung to a third quarter profit, thanks to e-commerce momentum and lower expenses. The shares gained 25% in premarket trading as of 7:35 a.m. ET.

Pinduoduo (PDD) – The China-based e-commerce company reported an unexpected profit for the third quarter as well as better than expected revenue, helped by an economic rebound in China.

Nov 11, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Alibaba, Lyft, Aurora Cannabis, FuboTV, Tencent Music

 

Peter Schacknow


Check out the companies making headlines before the bell:

Alibaba (BABA) – Alibaba shares are under pressure, amid concerns about tighter regulation of big tech firms by the Chinese government.  The decline in Alibaba shares comes despite an upbeat start to the e-commerce giant’s annual “Singles Day” event, with more than $56 billion in orders as of this morning. The stock fell 1.7% in premarket trading as of 7:33 a.m. ET.

Lyft (LYFT) – Lyft lost more than $280 million during the third quarter, more than double the loss it reported in the same quarter a year ago.  However, Lyft reported better than expected revenue for the quarter and also said it was working on developing a new food delivery service. The shares rose 5% in premarket trading as of 7:33 a.m. ET.

Aurora Cannabis (ACB) – The cannabis producer announced plans to raise $125 million through a secondary stock offering.  Under terms of the offering, each share would be priced at $7.50 and the buyer would receive a warrant to purchase another share at $9 within 40 months. The stock dropped 15% in premarket trading as of 7:33 a.m. ET.

fuboTV (FUBO) – The streaming TV service did report a larger than expected loss for its latest quarter, but revenue exceeded forecasts and the company also gave an upbeat current quarter outlook.  It expects to end the year with 500,000 to 510,000 subscribers, which would be up 58% to 62% compared to a year earlier. The shares gained 30% in premarket trading as of 7:33 a.m. ET.

Tencent Music (TME) – Tencent Music reported better than expected profit and revenue for its latest quarter, boosted by growth in paying users for its music streaming service.  Tencent said it is seeing a continued improvement in the retention rate of paying users. The shares added 4% in premarket trading as of 7:33 a.m. ET.

AT&T (T) – AT&T’s WarnerMedia unit is expected to lay off up to 1,750 workers – about 7% of its staff – according to multiple reports.  WarnerMedia – the operator of HBO, TBS, CNN and the Warner Bros. TV and film studio – plans to hold an all-hands meeting today to give more information on the cuts to employees.

Lemonade (LMND) – Lemonade reported a loss of 57 cents per share, smaller than the 64 cent loss that Wall Street had anticipated, while the mobile-based insurance company’s revenue also exceeded forecasts.  Lemonade also gave a better than expected current quarter outlook.

Datadog (DDOG) – Datadog earned an adjusted 5 cents per share for its latest quarter, compared to a 1 cent consensus estimate, while revenue beat estimates as well.  The cloud-monitoring company also issued an upbeat outlook. The shares lost 8% in premarket trading as of 7:33 a.m. ET.

Fair Isaac (FICO) – Fair Isaac reported adjusted quarterly earnings of $3.25 per share, well above the $2.32 consensus estimate, while the company behind the popular FICO credit scores also saw revenue exceed Wall Street forecasts. 

Sanmina (SANM) – Sanmina beat estimates by 32 cents with adjusted quarterly profit of $1.10 per share, with the electronics manufacturing company’s revenue beating estimates as well.  Sanmina also issued an upbeat outlook, saying its strategy was working despite a challenging economic environment.

General Electric (GE) – GE has ended its “Corporate Audit Staff” program, as part of CEO Larry Culp’s effort to simplify operations.  The program allowed workers to rotate through various divisions of the company to groom them for future leadership positions.

Tapestry (TPR) – The company behind the Coach and Kate Spade luxury brands was upgraded to “outperform” from “market perform” at Cowen, which points to a favorable pricing and profit margin mix as well as a refreshed marketing strategy for the company’s Coach Outlet operations.

Nov 10, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Beyond Meat, Lowe's, Microsoft, Tesla & more

 

Peter Schacknow


Check out the companies making headlines before the bell:

DR Horton – The homebuilder reported quarterly profit of $2.24 per share, beating the consensus estimate of $1.76, with revenue also above forecasts on an increase in closed sales and net orders. DR Horton also raised its dividend and issued an upbeat 2021 outlook. The shares rose 3% in premarket trading as of 7:29 a.m. ET.

CyberArk Software – The cybersecurity company reported adjusted quarterly earnings of 31 cents per share, 2 cents above estimates, although revenue fell short of Wall Street forecasts. CyberArk also gave a current quarter revenue forecast that falls below consensus estimates. The shares lost 6% in premarket trading as of 7:29 a.m. ET.

Advance Auto Parts – The auto parts retailer beat estimates by 15 cents with adjusted quarterly earnings of $2.81 per share, with revenue beating estimates as well. The results were helped by an ongoing increase in do-it-yourself repairs prompted by the pandemic. The shares lost 2% in premarket trading as of 7:29 a.m. ET.

Hain Celestial – The organic-products maker came in 7 cents ahead of Street forecasts with adjusted quarterly profit of 27 cents per share, with revenue also beating forecasts. Hain is expecting continued profit margin and earnings expansion in fiscal 2021, but is not giving specific financial guidance.

Beyond Meat – Beyond Meat shares are under pressure, after the plant-based burger maker reported an unexpected loss and lower-than-expected sales. Sales growth was the slowest since Beyond Meat’s initial public offering in May 2019. The shares dropped 22% in premarket trading as of 7:29 a.m. ET.

Lowe’s – Lowe’s said it is not in talks to buy industrial products distributor HD Supply, pushing back on a Bloomberg report that said the two sides were in talks. HD Supply shares had surged after Monday’s closing bell following that report.

Novavax – Novavax reported an unexpected loss for its latest quarter, with the drug maker’s revenue also missing analyst forecasts. The shares lost 4% in premarket trading as of 7:29 a.m. ET.

Simon Property Group – Simon reported adjusted quarterly profit of 48 cents per share, well below 90 cent consensus estimate, with the mall operator’s revenue also falling short of Wall Street forecasts. Simon’s results were impacted by retail tenants who paid lower rents amid the pandemic or missed payments altogether. The shares fell 3% in premarket trading as of 7:29 a.m. ET.

Microsoft – Microsoft unveiled two new Xbox gaming console models, as the pandemic drives a boom in online gaming. The Xbox Series X will sell for $499.99 while the Series S will cost $299.99.

NextEra Energy – The alternative energy producer has offered $15 billion in stock to acquire Kansas City-based utility Evergy, according to people familiar with the matter who spoke to Reuters. NextEra – the world’s biggest solar and wind energy producer – was rebuffed and it is unclear whether it will make a new approach to Evergy.

Norwegian Cruise Line Holding – Norwegian reported a quarterly loss of $2.35 per share, wider than the loss of $2.25 expected by analysts, while revenue was below estimates as well. Norwegian did say that demand for future cruises remains, especially for the second half of 2021. The shares gained 2% in premarket trading as of 7:29 a.m. ET.

Tesla – Tesla will reimburse some Model X and Model S owners to cover issues with a memory device that caused touchscreen blackouts, according to customer letters seen by CNBC. The automaker will also expand its warranty to include that issue.

Occidental Petroleum – Occidental Petroleum reported a larger than expected third quarter loss, hit by a plunge in crude oil prices.

Nov 9, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Pfizer, McDonald's, Apple, Berkshire Hathaway & more

 

Peter Schacknow


Check out the companies making headlines before the bell:

Pfizer, BioNTech – In an interim analysis of a phase 3 study, the drug makers said their Covid-19 vaccine candidate was found to be more than 90% effective in participants who were not previously infected. Stock futures surged following the announcement, and both companies saw shares gain more than 10% just before 7:45 a.m. ET.

McDonald’s – McDonald’s reported adjusted quarterly earnings of $2.22 per share, beating the consensus estimate of $1.90, with revenue slightly above Wall Street forecasts. Comparable store sales were down 2.2% globally, but increased by 4.6% in the United States as sales in those stores benefitted from stronger average check growth. Shares were up 5% in premarket trading just before 7:45 a.m. ET.

Royal Caribbean, Carnival, Norwegian, United Airlines, American Airlines, Delta Air Lines, Southwest Airlines – These and other travel stocks are getting a boost from the news that the Pfizer/BioNTech vaccine candidate proved more than 90% effective in an interim analysis. Several of those stocks posted gains of more than 20% just before 7:45 a.m..

Canopy Growth – The cannabis producer reported a smaller-than-expected loss, as well as greater-than-expected revenue for its latest quarter, benefitting from cost cuts as well as a greater number of people using its products amid the pandemic. Shares were up roughly 4% just before 7:45 a.m. E.T.

Party City – The party supplies retailer reported an adjusted profit of 10 cents per share, compared to forecasts of a 32 cents per share loss. Revenue was also above forecasts, with Party City seeing better-than-expected results for October and for Halloween in particular. Party City also gave a better than expected current quarter outlook. The stock was up 26% just before 7:45 a.m. E.T.

Berkshire Hathaway – Berkshire reported a third quarter drop in operating profit compared to a year earlier, as the insurance underwriting operation lost money, but Berkshire posted an overall profit thanks to the rising value of its equity investments. Shares were up 5% just after 7:45 a.m. E.T.

Navistar - Volkswagen’s truck unit Traton finalized its deal to buy the remainder of truck maker Navistar that it did not already own for $3.7 billion. Traton already had a 16.7% stake in Navistar and agreed in mid-October to raise a prior bid. Shares of the company were marginally higher just before 8 a.m. ET.

F5 Networks - Activist investor Elliott Management has taken a stake in the software management company, according to people familiar with the matter who spoke to the Wall Street Journal. The size of the stake could not be determined, but the paper said Elliott has already spoken to management about ways to boost shareholder value. Shares of the company were up 10% just before 8 a.m. ET.

Apple, Sony – Apple and Sony have both held talks about buying podcast producer Wondery, according to the Wall Street Journal. Wondery is said to be seeking $300 million to $400 million in a possible sale. Apple and Sony stocks were each slightly higher just before 8 a.m. ET.

The Container Store – The Container Store was upgraded to “neutral” from “sell” at Goldman Sachs, which thinks the retailer of organization and storage products will continue to benefit from Covid-19 related tailwinds. Shares rose 5% before 8 a.m. ET.

Nordstrom – Nordstrom was upgraded to “outperform” from “market perform” at Telsey Advisory Group, which points to the retailer’s business model and current valuation as positive factors. The stock had gained 15% in premarket trading just before 8 a.m. ET.

GlaxoSmithKline — ViiV Healthcare – which is majority owned by Glaxo – said an injectable experimental treatment to prevent HIV infection in women is 89% more effective than daily pills. The stock was up roughly 2% before 8 a.m. ET.

First Solar, Sunrun, SunPower – These and other solar stocks could see a boost following Joe Biden’s presidential election victory, with the president-elect favoring a robust alternative energy agenda. Just before 8 a.m. ET, each stock had gained at least 3% 

Nov 5, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: General Motors, Cigna, Merck, Regeneron & more

 


Peter Schacknow


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

General Motors (GM) – The automaker reported quarterly earnings of $2.83 per share, beating the consensus estimate of $1.38 a share, helped by strong demand for trucks and SUVs. Revenue was essentially in line with Street forecasts. The shares rose 6.7% in premarket trading as of 7:44 a.m. ET.

Cigna (CI) – The insurance company came in 17 cents a share above estimates, with quarterly earnings of $4.41 per share. Revenue also came in above Wall Street forecasts, helped by higher sales in Cigna’s health services unit.

Merck (MRK) – Merck is buying privately held drugmaker VelosBio for $2.75 billion in cash, in a move designed to boost its oncology treatment pipeline.

Regeneron (REGN) – Regeneron earned $8.36 per share for its latest quarter, beating the $7.14 a share consensus estimate. The drugmaker’s revenue also came in above forecasts, boosted by improved sales of drugs like eye treatment Eylea and eczema drug Dupixent.

Capri Holdings (CPRI) – The company behind luxury brands like Michael Kors reported quarterly earnings of 90 cents per share, well above the 4 cents a share consensus estimate. Revenue beat forecasts as well. Strong demand in China and a surge in online sales helped drive Capri’s better-than-expected quarter. The shares jumped 12% in premarket trading as of 7:44 a.m. ET.

Canada Goose (GOOS) – The outerwear maker earned 10 cents per share (Canadian) for its second quarter, compared to the consensus estimate of a 3 cents per share loss. Revenue was also above forecasts as online sales jumped and as the company saw strong demand in China for its parkas.

New York Times (NYT) – The newspaper publisher doubled estimates with quarterly earnings of 22 cents per share. Revenue was also above estimates, driven by an increase in digital subscriptions.

Hanesbrands (HBI) – The apparel maker beat estimates by 3 cents a share, with quarterly earnings of 42 cents per share. Revenue also exceeded forecasts. Hanesbrands saw better sales for its Champion brand, and also reported an overall boost in digital sales. The shares jumped 14% in premarket trading as of 7:44 a.m. ET.

Barrick Gold (GOLD) – The mining company increased its dividend by 12.5% after reporting quarterly profit that nearly tripled from a year earlier. Barrick benefited from a surge in gold prices during the quarter. The shares added 2% in premarket trading as of 7:44 a.m. ET.

Becton Dickinson (BDX) – The medical products maker beat estimates by 27 cents a share, with quarterly profit of $2.79 per share. Revenue topped estimates as well. Results were boosted by a jump in sales of Covid-19 -related products like testing kits.

Qualcomm (QCOM) – Qualcomm reported quarterly earnings of $1.45 per share, beating the consensus estimate of $1.17 a share. Revenue also came in above forecasts and the chipmaker gave an upbeat current-quarter forecast as Apple (AAPL) and other handset makers ramp up production of 5G phones that utilize Qualcomm chips. The shares surged 14% in premarket trading as of 7:44 a.m. ET.

Apple (AAPL) – Apple is facing a shortage of power consumption chips for its new iPhone 12 line, according to people with knowledge of the matter who spoke to Bloomberg. Apple declined to comment when contacted by CNBC.

Amazon.com (AMZN) – Amazon CEO Jeff Bezos sold more than $3 billion in Amazon shares in August, according to a Securities and Exchange Commission filing. Bezos has sold about $10.2 billion in shares this year, but still owns more than 53 million shares worth about $170 billion.

AstraZeneca (AZN) – The drugmaker said it expected to see data from its late-stage trial involving its Covid-19 vaccine candidate later this year. AstraZeneca also reported better-than-expected quarterly sales, although profit fell short of analysts’ forecasts.

Aphria (APHA) – Aphria will buy craft brewer SweetWater Brewing Co. for $300 million, as the Canadian cannabis producer expands in the U.S. and enters the alcoholic beverages market.

Apache (APA) – Apache reported a smaller-than-expected loss for its latest quarter, with the oil producer also accelerating cost cuts. Apache also said capital spending this year would come in at the low end of its prior forecast.

Expedia (EXPE) – Expedia reported a quarterly loss of 22 cents per share, compared to forecasts of a 79 cents per share loss. The travel services company’s revenue came in above estimates, even as travel demand continues to be impacted by the pandemic. The shares rose 4% in premarket trading as of 7:44 a.m. ET.

Zynga (ZNGA) – Zynga lost 11 cents per share for its latest quarter, 2 cents a share smaller than analysts had anticipated. The mobile game maker’s revenue above forecasts. Active user numbers rose to record levels, with its games like “Words With Friends” gaining popularity amid the pandemic. The shares lost 5% in premarket trading as of 7:44 a.m. ET.

Match Group (MTCH) – Match reported better-than-expected earnings and revenue for the third quarter, as the pandemic helped boost the popularity of its dating services. Tinder, which is Match Group’s most widely-used app, saw subscriber numbers jump 16% from a year earlier. The shares rose 4% in premarket trading as of 7:44 a.m. ET.

Nov 3, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Wayfair, Jazz Pharmaceuticals, Cirrus Logic & more

 

Peter Schacknow


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

Wayfair (W) – The online home decor retailer nearly tripled the consensus estimate of 80 cents per share, with quarterly profit of $2.30 per share. Revenue also came in above estimates, benefiting from strong demand in its category and an overall ongoing shift toward online purchasing by consumers. Membership numbers grew by a little more than 50% from a year ago. Shares of Wayfair soared 12% in premarket trade.

Jazz Pharmaceuticals (JAZZ) – Jazz Pharmaceuticals reported quarterly profit of $4.31 per share, 27 cents a share above estimates. Revenue also came in above forecasts as well and the drugmaker raised its full-year revenue forecast. The company’s shares were up 7% in the premarket.

Cirrus Logic (CRUS) – Cirrus beat the consensus estimate of 90 cents a share, with quarterly earnings of $1.26 per share. The maker of electronic components also reported better-than-expected revenue. Cirrus announced that President John Forsyth will become CEO on Jan. 1, succeeding Jason Rhode. Shares were up nearly 8% in the premarket.

Humana (HUM) – The health insurer reported a quarterly profit of $3.08 per share, beating the $2.81 consensus estimate, with revenue above estimates as well. Humana forecast a current-quarter loss, however, due to a resumption of payouts for medical procedures that had been delayed due to the pandemic. Humana also raised its 2020 Medicare Advantage membership growth outlook. Shares of Humana were up more than 1.5% in premarket trading.

McKesson (MCK) – The pharmaceutical distributor earned $4.80 per share for its latest quarter, compared to a consensus estimate of $3.87 a share. Revenue also beat forecasts, and the company increased its full-year guidance. McKesson’s results were helped by strong demand for virus tests and personal protective equipment. McKesson shares were up nearly 4% in the premarket.

Ferrari (RACE) – The automaker reported better-than-expected earnings and revenue for its latest quarter, and said its 2020 results would come in near the upper end of the range it issued in August. Shares of the company were up 4% in the premarket.

Twitter (TWTR) – Twitter said in a Securities and Exchange Commission filing that a board committee has determined that the company’s current management structure should remain in place, seen as a reprieve for CEO Jack Dorsey. It also suggested changes to Twitter’s board structure to give a larger voice to shareholders. Twitter plans to begin a previously announced $2 billion share buyback program this quarter. Twitter shares edged 1% higher in the premarket.

Mondelez (MDLZ) – Mondelez beat estimates by a penny a share, with quarterly earnings of 63 cents per share. The maker of Oreo cookie and other snacks saw its revenue top forecasts as well. Mondelez continued to benefit from stay-at-home consumers stocking up on its snacks. The company also plans to reinstate its share buyback program this quarter. Shares of the company slipped about 1% in premarket trade.

Royal Caribbean (RCL) – Royal Caribbean extended cruise cancellations through the end of the year, amid an increase in global virus cases. Rival Norwegian Cruise Line (NCLH) had made a similar announcement earlier on Monday. Royal Caribbean traded slightly lower premarket.

PayPal (PYPL) – PayPal reported quarterly earnings of $1.07 per share, beating the consensus estimate of 94 cents a share. The digital payment service’s revenue came in slightly above Wall Street forecasts, boosted by the ongoing increase in digital transactions. The company gave current-quarter earnings guidance that disappointed some investors, however, sending its shares more than 5% lower in the premarket.

Skyworks Solutions (SWKS) – Skyworks earned $1.85 per share for its fiscal fourth quarter, compared to a consensus estimate of $1.52 per share. The chipmaker’s revenue came in well above analysts’ projections. Skyworks also issued an upbeat current-quarter outlook, helped by the ramp-up in 5G smartphone platforms. Shares were little changed in the premarket.

Nov 2, 2020

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Clorox, Estee Lauder, Dunkin' Brands & more

 

Peter Schacknow


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

Clorox (CLX) – The household products maker reported quarterly earnings of $3.22 per share, compared to a consensus estimate of $2.32 a share. Revenue also topped forecasts, as Clorox continued to benefit from purchases by homebound consumers amid the pandemic. Clorox also raised its full-year sales guidance. The shares were up 2.8% in premarket trading as of 7:35 a.m. ET.

Estee Lauder (EL) – The cosmetics maker earned $1.44 per share, well above the 90 cents a share consensus estimate. Revenue also beat forecasts and Estee Lauder announced a 10% dividend increase to 53 cents per share. The shares jumped 4% in premarket trading as of 7:35 a.m. ET.

Marathon Petroleum (MPC) – Marathon lost an adjusted $1.00 per share, less than the loss of $1.70 per share expected by Wall Street analysts. Revenue came in below estimates, however, amid significantly lower demand due to the pandemic’s economic impact. The shares were down slightly in premarket trading as of 7:35 a.m. ET.

AMC Networks (AMCX) – The cable network operator reported quarterly earnings of $1.32 per share, 4 cents a share above estimates. Revenue also exceeded forecasts. AMC said it expects to have 5 million to 5.5 million paid streaming video subscribers by the end of the year.

Lemonade (LMND) – Piper Sandler began coverage of the direct-to-consumer insurance provider with an “overweight” rating, noting Lemonade’s technology-forward competitive advantage.

Waste Management (WM) – Waste Management earned $1.09 per share for its latest quarter, 7 cents a share above estimates. Revenue also topped forecasts. The company said it was pleased with its performance despite a challenging economic backdrop. The shares added 1% in premarket trading as of 7:35 a.m. ET.

Dunkin’ Brands (DNKN) – Dunkin’ agreed to be acquired by Arby’s owner Inspire Brands for $8.8 billion in cash, or $106.50 per share, the largest North American restaurant acquisition since Burger King owner Restaurant Brands (QSR) acquired the Tim Hortons chain in 2014. The shares jumped 6% in premarket trading as of 7:35 a.m. ET.

Nielsen Holdings (NLSN) – Nielsen is selling its consumer goods data unit to private-equity firm Advent International for $2.7 billion. With the deal, Nielsen has abandoned its previously announced plan to split itself into two separate publicly traded companies. Separately, Nielsen reported better-than-expected profit and revenue for its latest quarter. The shares surged 8% in premarket trading as of 7:35 a.m. ET.

Bank of America (BAC) – Bank of America said nearly $10 billion of its consumer loan portfolio was in a deferral program as of Oct. 21.

General Motors (GM) – The automaker has hired Paul Jacobson as its new chief financial officer. Jacobson had been CFO at Delta Air Lines (DAL) since 2012.

Sony (SNE) – Sony is close to buying U.S.-based anime streaming service CrunchyRoll from AT&T (T) for about $956 million, according to a report by Japan’s Nikkei news service.

JPMorgan Chase (JPM) – JPMorgan Chase raised its stake in its China securities joint venture to 71%, after buying a 20% stake from one of its local partners.

Under Armour (UAA) – Under Armour was upgraded to “buy” from “hold” at Stifel Financial, following its upbeat quarterly earnings report on Friday. Stifel cites a number of factors, including improved revenue quality for the athletic apparel maker.

Lockheed Martin (LMT) – Britain will retake control of a nuclear weapons contract from a consortium that includes Lockheed Martin and Jacobs Engineering (J).

Oct 29, 2020

Market Insider | Biggest Market Moves Premarket: Stocks making the biggest moves in the premarket: Comcast, Spotify, Pinterest, Tapestry & more

 


Peter Schacknow


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

Comcast (CMCSA) – The NBCUniversal and CNBC parent reported quarterly profit of 65 cents per share, 13 cents a share above estimates. Revenue beat forecasts as well. Comcast added 663,000 broadband customers during the quarter, and said its Peacock streaming service signups had reached nearly 22 million. The company said theme park results continue to weigh on results due to the pandemic. The shares rose 2.4% in premarket trading as of 7:33 a.m. ET.

Marvell Technology (MRVL) – Marvell struck a deal buy fellow chipmaker Inphi (IPHI) for $10 billion in cash and stock. The deal values Inphi at roughly $157.83 per share, more than 40 percent above Inphi’s Wednesday close.

Spotify (SPOT) – The streaming music service reported a slightly wider-than-expected loss for its latest quarter, with revenue roughly in line with estimates. It also saw premium subscriber numbers rise by a better than expected 27%. Spotify fell 3.9% in premarket trading as of 7:33 a.m. ET.

Tapestry (TPR) – The parent of the Coach and Kate Spade brands reported quarterly profit of 58 cents per share, well above the 23 cents a share consensus estimate. Revenue also topped forecasts, helped by lower expenses and gains from digital transactions. The shares jumped 10% in premarket trading as of 7:33 a.m. ET.

Tempur Sealy (TPX) – The mattress retailer earned $2.94 per share for its latest quarter, beating the consensus estimate of $2.20 a share. Revenue came in above Wall Street forecasts as well. The company also declared a 4-for-1 stock split and boosted its share repurchase program by $170 million to $300 million. The shares rose 4.7% in premarket trading as of 7:33 a.m. ET.

Kontoor Brands (KTB) – The maker of Lee and Wrangler jeans and other apparel earned $1.33 per share for its latest quarter, well above the 58 cents a share consensus estimate. Revenue also beat estimates, and Kontoor announced it had reinstated its dividend. The shares gained 5% in premarket trading as of 7:33 a.m. ET.

Molson Coors (TAP) – The beer brewer earned $1.62 per share for its latest quarter, compared to the $1.02 a share consensus estimate. Revenue also came in above forecasts. The company said it’s also seeing strong growth for its hard seltzer products. Molson shares rose 6% in premarket trading as of 7:33 a.m. ET.

Tiffany (TIF) – Tiffany and French luxury goods maker LVMH have agreed on a revised takeover deal, with LVMH paying $131.50 per share. That’s down from the original $135 per share deal that the two sides had agreed to last November, prior to the pandemic. LVMH subsequently sued to back out of buying Tiffany, accusing the company of mismanaging the business during the pandemic.

Shopify (SHOP) – The e-commerce platform provider reported quarterly profit of $1.13 per share, compared to a 53 cents a share consensus estimate. Revenue scored a beat as well. Shopify benefited from an increasing number of brick-and-mortar retailers turning to online sales to boost results as the pandemic drives growth in online shopping. The shares gained 4% in premarket trading as of 7:33 a.m. ET.

Pinterest (PINS) – Pinterest earned 13 cents per share for its latest quarter, 10 cents a share above estimates. Revenue also exceeded forecasts. The image-sharing platform reported a larger-than-expected number of active users, and gave an upbeat current-quarter revenue forecast. The shares surged 32% in premarket trading as of 7:33 a.m. ET.

Visa (V) – Visa came in 3 cents a share above estimates, with quarterly profit of $1.12 per share. Revenue also beat Wall Street projections. Profits were down 29% from a year earlier, however, due to fewer transactions on its payment network.

Ford Motor (F) – Ford more than tripled the consensus estimate of 19 cents a share, with quarterly profit of 65 cents per share. The automaker also reported better-than-expected revenue. Results were helped by increased demand for SUVs and pickup trucks. Ford also said it would report a full-year profit. The shares gained 5% in premarket trading as of 7:33 a.m. ET.

Amgen (AMGN) – Amgen reported quarterly earnings of $4.37 per share, beating the $3.81 consensus estimate. The biotech company’s revenue was slightly above forecasts, helped by stronger drug sales, although drug prices were lower during the quarter.

Gilead Sciences (GILD) – Gilead beat estimates by 21 cents a share, with quarterly earnings of $2.11 per share. The drugmaker’s revenue also came in above analysts’ forecasts. Gilead cut its 2020 revenue forecast, however, due to lower-than-expected demand, and uncertainty surrounding the sales of Covid-19 treatment remdesivir.

EBay (EBAY) – EBay earned 85 cents per share for its latest quarter, 8 cents a share above estimates. Revenue also topped consensus, however the number of active buyers on the retail platform came in lower than analysts had been forecasting. The shares lost 5% in premarket trading as of 7:33 a.m. ET.

Etsy (ETSY) – Etsy beat estimates by 10 cents a share, reporting quarterly profit of 70 cents per share. Revenue also exceeded Wall Street forecasts, boosted by strong sales of face masks and home décor amid the pandemic.

Exxon Mobil (XOM) – Exxon kept its fourth-quarter dividend at 87 cents per share, marking the first time since 1982 that the energy giant did not raise its dividend.

Oct 28, 2020

Market Insider | Stocks Making The Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Boeing, GE, Blackstone, First Solar & more

 

Peter Schacknow


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

Boeing (BA) – Boeing lost $1.39 per share for the third quarter, smaller than the loss of $2.52 anticipated by Wall Street. Revenue was also above estimates. Boeing said it was targeting a workforce of 130,000 by the end of 2021, which is about 11,000 lower than the current total. Boeing shares were up slightly in premarket trading as of 7:40 a.m. ET.

General Electric (GE) – GE reported a third-quarter profit of 6 cents per share, compared to forecasts for a loss of 4 cents per share. Revenue came in above estimates as well. GE said it was managing through a “difficult environment” but added that it is on track with its effort to contain costs and conserve cash. GE shares rose 4% in premarket trading as of 7:40 a.m. ET.

Blackstone (BX) – The private-equity firm reported distributable earnings per share of 63 cents per share, beating the 57 cents a share consensus estimate. Revenue also topped forecasts, boosted by its emphasis on technology-related investments. The shares were up by 1% in premarket trading as of 7:40 a.m. ET.

United Parcel Service (UPS) – UPS reported quarterly earnings of $2.28 per share, compared to a consensus estimate of $1.90 a share. Revenue was above estimates as well. UPS continued to benefit from a surge in home deliveries due to the pandemic. The shares were little changed in premarket trading as of 7:40 a.m. ET.

Garmin (GRMN) – The maker of GPS and fitness products beat estimates by 59 cents a share, with quarterly earnings of $1.58 per share. Revenue also beat Wall Street forecasts. Garmin said it saw particular strength in devices for boating and outdoor activities. Garmin shares added 3% in premarket trading as of 7:40 a.m. ET.

Tupperware (TUP) – The maker of home storage products earned $1.20 per share for its latest quarter, well above the consensus estimate of 37 cents a share. Revenue was well above forecasts. Tupperware saw a sales bump from more consumers cooking and storing food at home. The shares jumped 8% in premarket trading as of 7:40 a.m. ET.

Bunge (BG) – The agriculture commodities company reported adjusted quarterly earnings of $2.47 per share, compared to a consensus estimate of 20 cents a share. Revenue came in above estimates as well. Bunge saw strong demand for oilseed processing and soy products, and the company lifted its full-year outlook. The shares rose 6% in premarket trading as of 7:40 a.m. ET.

Six Flags (SIX) – The theme park operator lost $1.37 per share for its latest quarter, wider than the $1 per share loss that analysts were expecting. Revenue came in below forecasts as well. Park attendance continues to be hurt by the pandemic, although Six Flags said attendance trends are improving.

Microsoft (MSFT) – Microsoft reported quarterly earnings of $1.82 per share, 28 cents a share above estimates. Revenue also came in above forecasts. Current-quarter revenue guidance was below current consensus, however, with a particular shortfall in its More Personal Computing unit. The shares lost 2% in premarket trading as of 7:40 a.m. ET.

FireEye (FEYE) – FireEye beat estimates by 4 cents a share, with quarterly profit of 11 cents per share. The cybersecurity company’s revenue also topped estimates and FireEye gave strong current-quarter revenue guidance. The shares added 2% in premarket trading as of 7:40 a.m. ET.

First Solar (FSLR) – First Solar more than doubled the 61 cents a share consensus estimate, with quarterly earnings of $1.45 per share. Revenue was considerably above Wall Street forecasts as well. The solar equipment company said its results have not been materially impacted by the pandemic. The shares surged 12% in premarket trading as of 7:40 a.m. ET.

Deutsche Bank (DB) – Deutsche Bank reported a surprise third-quarter profit, with the bank’s bottom line benefitting from improved performance by its investment banking operations.

Juniper Networks (JNPR) – Juniper Networks matched estimates, with quarterly earnings of 43 cents per share. The networking and cybersecurity company’s revenue came in above analysts’ forecasts. The company said it saw better-than-expected demand during the quarter despite challenges created by the pandemic.

Sony (SNE) – Sony raised its annual profit forecast after reporting a better-than-expected fiscal second-quarter profit, with its gaming business getting a boost from pandemic-related lockdowns as well as the performance of its Japanese animated film “Demon Slayer.”

Caesars Entertainment (CZR) – Caesars is selling its Tropicana Evansville casino for a total of $480 million, with Gaming & Leisure Properties buying the real property assets and Twin River Worldwide Holdings buying the operating assets.

Akamai Technologies (AKAM) – Akamai shares are under pressure despite beating estimates on the top and bottom lines for its latest quarter. The provider of online content delivery technology reported quarterly profit of $1.31 per share, 8 cents a share above estimates.

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