Stocks making the biggest moves premarket: BB, MDT, URI, JPM, BAC & more

Stock Market

Check out the companies making headlines before the bell:

BlackBerry – BlackBerry reported adjusted first-quarter profit of 3 cents per share, compared to analysts’ expectations of a breakeven quarter. The software and services company also saw revenue top estimates.

Medtronic – The medical device maker announced a 9 percent increase in its quarterly dividend to 50 cents per share.

United Rentals – The equipment rental company was upgraded to “buy” from “neutral” at UBS, which said cyclical and cost concerns surrounding the company are overdone.

JPMorgan Chase, Bank of America, Citigroup, Wells Fargo – These and other bank stocks are on watch today after 35 of the nation’s largest banks passed the Fed’s latest stress tests. The tests show that the banks have sufficient capital to weather severe adverse conditions.

Red Hat – Red Hat reported adjusted quarterly profit of 72 cents per share, 3 cents a share above estimates. The software provider’s revenue also beat forecasts on strong demand from large companies, but its current-quarter and full-year revenue forecasts are short of analysts’ estimates due to a strengthening dollar.

General Motors – GM will build its new Chevrolet Blazer SUV in Mexico, despite ongoing criticism from President Donald Trump aimed at automakers who manufacture vehicles outside of the U.S.

Tesla – The automaker is planning to close a dozen solar facilities in nine states, according to internal company documents seen by Reuters.

Walt Disney – Disney said it would be willing to divest 21st Century Fox assets generating up to $1 billion in earnings, in order to win regulatory approval for its proposed deal with Fox. It had previously said it was willing to divest assets generating $500 million. Analysts consider it likely that NBCUniversal and CNBC parent Comcast will raise its prior offer for those Fox assets.

United Parcel Service – UPS and the Teamsters have reached a tentative agreement on a new five-year labor contract. The prior agreement expires on July 31, and the new pact must still be finalized and then ratified by union members.

Chipotle Mexican Grill – The restaurant chain is testing new menu offerings, including quesadillas, nachos, salads, and chocolate shakes. The new items are limited to the restaurant chain’s New York City test kitchen for now but are expected to eventually roll out nationwide.

Molina Healthcare – Molina was upgraded to “buy” from “hold” at Jefferies, which cites confidence In management’s turnaround plan for the health insurer.

Hain Celestial – The organic-products maker has received a preliminary offer for its protein business from Pilgrim’s Pride, according to the New York Post.

Tandem Diabetes Care – The San Diego-based medical device maker received Food and Drug Administration approval for its new automated insulin delivery system. Tandem said the device is the first in its category to be approved for use in children as young as six years old.

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