Stocks making the biggest move premarket: AAPL, SBUX, BABA, NWL, KORS & more

Stock Market

Check out the companies making headlines before the bell:

Apple – Apple reported quarterly profit of $2.91 per share, above the consensus estimate of $2.78 a share. Revenue also beat expectations, however its shares are being pressured by weaker-than-expected iPhone shipment numbers, as well as a weaker-than-expected revenue forecast for the current quarter.

Starbucks – Starbucks came in 2 cents a share ahead of estimates, with adjusted quarterly profit of 62 cents per share. The coffee chain’s revenue also beat Street forecasts. Comparable-store sales were up 3 percent, beating the consensus estimate of a 2.4 percent increase.

Alibaba – The China e-commerce giant beat estimates on the bottom line, though revenue was somewhat short of analysts’ forecasts. Annual active consumers rose 25 million from a year earlier to 601 million. Core commerce revenue was up 56 percent, while cloud computing revenue jumped by 90 percent.

Newell Brands – The maker of products like Sharpie pens and Elmer’s Glue reported adjusted quarterly profit of 81 cents per share, beating the consensus estimate of 64 cents a share. Revenue fell short of forecasts, however. Newell also raised its full-year forecast, as it sees improved cash flow and better profit margins from its restructuring.

Michael Kors – The luxury goods maker was upgraded to “overweight” from “neutral” at Piper Jaffray, which calls the stock “underappreciated and undervalued.” Piper notes that a recent drop in the stock price has wiped out more market cap value than that $2.1 billion that Kors paid for Versace, and that the company will be able to boost Versace’s growth.

CBS – CBS reported adjusted quarterly earnings of $1.24 per share, 2 cents a share ahead of consensus. Revenue was slightly above estimates. The media company’s results were helped by an increase in digital subscriptions and stronger ad sales.

Kraft Heinz – Kraft Heinz came in 3 cents a share shy of estimates, with quarterly profit of 78 cents per share. The food company’s revenue beat estimates. The bottom line was impacted by higher commodity costs and promotional activity.

WW — WW reported adjusted quarterly earnings of 94 cents per share, 5 cents a share short of estimates. The company formerly known as Weight Watchers also saw revenue come up short of Wall Street forecasts.

Caesars Entertainment – Caesars reported a surprise profit of 14 cents per share, with analysts having anticipated a breakeven quarter for the casino operator. Revenue came in slightly short of forecasts, and Caesars announced that CEO Mark Frissora would leave the company in February.

General Motors – GM is discontinuing work on two renovation projects in the Detroit area in order to cut costs, according to an employee email seen by Reuters. The email from CEO Mary Barra said that costs are not currently aligned with market realities.

United Parcel Service – UPS is halting pickups of heavy items as of next Wednesday, ahead of voting on a tentative union contract that will extend through November 11. UPS said it is trying to avoid disruptions in the event of a work stoppage.

AT&T – AT&T’s HBO and Cinemax services have gone dark for customers of Dish Network, after the two sides failed to agree on a new distribution deal. AT&T is also the owner of DirecTV, which competes with Dish.

Alkermes — A Food and Drug Administration panel voted against recommending approval for the drugmaker’s experimental depression treatment, aimed at patients who do not respond to standard therapies.

Symantec – Symantec reported quarterly profit of 42 cents per share, 9 cents a share above estimates. The cybersecurity company’s revenue also topped forecasts, boosted by an 8.5 percent increase in consumer security unit revenue.

MetLife – MetLife reversed a year-ago loss, reporting an adjusted quarterly profit of $1.38 per share, 11 cents a share above estimates. The insurer’s revenue also came in ahead of Wall Street forecasts. The bottom line was helped by an improvement an investment income and favorable underwriting results, among other factors.

Synchrony Financial – Synchrony was sued by retailer Walmart, which charges the credit-card issuer with breach of contract regarding its underwriting standards. Synchrony calls Walmart’s charges “baseless.” Walmart replaced Synchrony as its credit-card issuer earlier this summer with Capital One Financial.

Shake Shack – The restaurant chain reported quarterly earnings of 21 cents per share, 8 cents a share above estimates. Revenue beat forecasts, as well, however comparable-restaurant sales unexpectedly fell. Shake Shack also gave a weaker-than-expected outlook.

Pfizer – The drugmaker is considering the sale of its women’s health business, according to a Bloomberg report. The division has annual sales of about $1.2 billion and the report said a sale could bring in about $2 billion.

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *