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Stocks making the biggest moves in the premarket: Home Depot, Macy’s, Mastercard, Intuit & more


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

Home Depot (HD) – The home improvement retailer reported quarterly earnings of $2.28 per share, beating the consensus estimate of $2.10 a share. Revenue and same-store sales were also above Wall Street forecasts, and Home Depot also announced a 10% dividend increase.

Macy’s (M) – Macy’s reported quarterly earnings of $2.12 per share, 16 cents a share above estimates. Revenue also came in above forecasts. Same-store sales on an owned plus licensed basis fell 0.5%, a smaller drop than the 0.9% that analysts were expecting.

Mastercard (MA) – Mastercard announced a leadership transition, naming Chief Product Officer Michael Miebach as CEO effective Jan. 1, 2021. At that time, current CEO Ajay Banga will become executive chairman. Separately, Mastercard said its current-quarter revenue would drop by 2% to 3% if the coronavirus persists through the quarter.

United Airlines (UAL) – United withdrew its full-year 2020 forecast, pointing to the ongoing impact of the coronavirus on travel. The airline also said that near-term demand for travel to China amid the outbreak had virtually disappeared.

Tupperware (TUP) – The household products maker warned of a shortfall in its full-year 2019 earnings, which will not be out today as originally scheduled. Tupperware said it was probing its accounting for results in its Fuller Mexico unit. It also said participating banks have granted relief from a covenant in a $650 million credit agreement which might have resulted in potential acceleration of required payback.

Mallinckrodt (MNK) – The drugmaker is finalizing a plan that would put its U.S. generic drug business into bankruptcy, according to The Wall Street Journal. The move would help deal with liabilities stemming from the opioid crisis.

Intuit (INTU) – Intuit reported quarterly profit of $1.16 per share, 14 cents a share above estimates. The financial software maker also reported better-than-expected revenue and Intuit announced the acquisition of credit monitoring service Credit Karma for about $7.1 billion in cash and stock.

Palo Alto Networks (PANW) – Palo Alto reported quarterly earnings of $1.19 per share, 7 cents a share above estimates. The cybersecurity company’s revenue was well below Wall Street forecasts, however, and Palo Alto issued lower-than-expected guidance for the current quarter and the full year citing the impact of sales incentives.

Shake Shack (SHAK) – Shake Shack reported quarterly profit of 6 cents per share, compared to expectations of a 1 cent per share loss. The restaurant chain’s revenue missed forecasts, however, and same-restaurant sales fell by a larger-than-expected 3.6% during the quarter.

Hertz Global (HTZ) – Hertz lost 24 cents per share for its latest quarter, 3 cents a share less than analysts had been expecting. The car rental company’s revenue was essentially in line with forecasts.

HP Inc. (HPQ) – HP came in 11 cents a share ahead of estimates, with quarterly earnings of 65 cents per share. The computer and printer maker’s revenue was also slightly above Street projections. HP pledged to return $16 billion to shareholders in a bid to stave offer a hostile takeover bid from Xerox (XRX).

JPMorgan Chase (JPM) – The bank is expected to leave its financial targets unchanged at today’s annual investor day, according to analysts quoted by Reuters.

Expedia (EXPE) – Expedia will cut 3,000 jobs, or about 12% of its workforce, as the travel website operator streamlines its business.

General Electric (GE) – GE cut about 78,000 employees last year, according to its newly issued annual report, leaving it with about 205,000 workers at the end of 2019. That drops employee levels at GE to 1951 levels.

Moderna (MRNA) – Moderna announced it had shipped a coronavirus vaccine to U.S. government researchers for study, with the first clinical trial expected by the end of April.

Tenet Healthcare (THC) – Tenet earned an adjusted 99 cents per share for its fourth quarter, beating estimates by a penny a share. The hospital operator’s revenue also beat forecasts, with same-hospital admissions up 2.6%.

Tesla (TSLA) – The automaker’s stock was downgraded to “hold” from “buy” at Jefferies, although it did raise its price target on the automaker’s stock to $800 from the prior $600. Jefferies said it needs a clearer view of potential profitability, particularly in the battery business.


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