Saturday, June 22, 2024
HomeWorld NewsUnited States NewsStocks making the biggest moves in the premarket: Microsoft, Chewy, Boeing, AMC...

Stocks making the biggest moves in the premarket: Microsoft, Chewy, Boeing, AMC & more

105608387 1543944315766gettyimages 1073967746

Check out the companies making headlines in the premarket Friday:

American Express — American Express posted better-than-expected results for the previous quarter, driven by higher card member spending, and increasing loans and fees. The company also reaffirmed its 2019 outlook.

Microsoft — Microsoft shares climbed 3% after the tech giant posted quarterly numbers that topped analysts’ expectations. The company reported earnings per share of $1.37 on revenue of $33.72 billion. Wall Street analysts expected a profit of $1.21 per share on sales of $32.77 billion. CFO Amy Hood said Microsoft’s commercial cloud revenue surged 39% in the quarter.

Chewy — The online pet food retailer climbed more than 2% after reporting its quarterly sales surged 45% on a year-over-year basis.

BlackRock — The largest asset manager in the world posted second-quarter results that missed analysts’ expectations. BlackRock posted earnings per share of $6.41 on revenue of $3.524 billion. Analysts polled by Refinitiv expected a profit of $6.50 per share on sales of $3.566 billion. The company’s misses were driven by higher costs and lower revenue from investment advisory and securities lending.

Boeing — The aerospace giant said it will take a $4.9 billion charged in the second quarter, citing global groundings of its 737 Max planes. The charge comes out to $8.74 per share and wipes out a Refinitiv earnings estimate of $1.80 per share.

Gannett — The Wall Street Journal reported that Gannett and GateHouse Media, another newspaper publishing company, were in “advanced ” merger talks.

Occidental Petroleum — A regulatory filing showed activist Carl Icahn has launched a proxy fight against Occidental to win four seats on the company’s board. Icahn blasted the company for not giving shareholders a say in its proposed deal to acquire Anadarko Petroleum for $38 billion.

Amazon — President Donald Trump said Thursday the administration would look closely at Amazon’s contract with the Pentagon. “We’re getting tremendous complaints from other companies,” Trump said.

General Motors — GM unveiled the 2020 Corvette Stingray, a car that produces nearly 500 horsepower and has its engine mounted in the middle of the car, like Ferrari and other supercar makers.

CrowdStrike — Shares of the cybersecurity firm jumped more than 18% after it posted better-than-expected revenue since going public last month. CrowdStrike reported sales of $96.1 million, topping a Refinitiv estimate of $95.6 million. CEO George Kurtz said the company’s revenue grew by 103% on a year-over-year basis.

Zillow — An analyst at KeyBanc initiated Zillow with an “overweight” rating and a price target of $66 per share, implying a 37% upside from Thursday’s close. “Zillow’s traffic should allow it to remain the leading marketplace for connecting home buyers/sellers with agents,” the analyst said in a note.

AMC Entertainment — Credit Suisse initiated coverage of the movie theater chain with an “outperform” rating, noting the stock’s 21.7% sell-off this year is “overdone.” It added that “our bottom-up film forecast suggests industry box office growth for the next three quarters, which we believe should bolster investor sentiment.”

AB Inbev — The world’s largest beer maker agreed to sell its Australian operations to Japan-based Asahi for more than $11 billion in enterprise value. AB Inbev said it would use the bulk the proceeds to pay down debt.

More Related Articles


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

5 Days Trending

We use cookies to ensure that we give you the best experience on our website.