Stocks making the biggest move premarket: DKS, TIF, SJM, CRM, HUM, BKS & more
Check out the companies making headlines before the bell:
Dick’s Sporting Goods – The sporting goods retailer earned 39 cents per share for its latest quarter, 13 cents a share above estimates. Revenue was essentially in line with forecasts and Dick’s raised its full-year forecast.
Tiffany – The luxury goods retailer matched estimates with quarterly profit of 77 cents per share. Revenue was slightly below Wall Street forecasts, with comparable-store sale also shy of estimates. Tiffany also reiterated its prior full-year earnings forecast.
J.M. Smucker – Smucker reported adjusted quarterly profit of $2.17 per share, 17 cents a share below estimates. Revenue also fell short, and the food maker also cut its full-year forecast amid what it calls a competitive environment and lower pricing.
Salesforce.com – Salesforce reported adjusted quarterly profit of 61 cents per share, beating consensus estimates by a penny a share. The business software maker’s revenue also beat forecasts, but it gave a mixed outlook. Salesforce’s current-quarter earnings guidance is below expectations, but it is forecasting 2020 revenue above consensus as more companies subscribe to its cloud-based service.
Humana – The health insurer announced an accelerated $750 million stock repurchase program, and also raised its estimate of membership growth for its individual Medicare Advantage products.
Barnes & Noble – In a Securities and Exchange Commission filing, Executive Chairman Leonard Riggio said he is evaluating and may participate in a potential sale of the book retailer. Riggio is Barnes & Noble’s largest shareholder.
Sleep Number – Sleep Number will have to face a defamation lawsuit first filed 11 years ago by rival mattress retailer Mattress Firm. A federal appeals court has revived the lawsuit, overturning a dismissal by a lower court judge.
Teva Pharmaceutical – Teva is recalling certain combinations involving its blood pressure drug valsartan in the U.S. That follows the detection of an impurity that could cause cancer, although the FDA said there that Teva had not received any reports of adverse events related to the issue.
Amazon.com – Amazon has begun selling software that scrutinizes medical records for information that could be used to generate more effective treatment as well as cut costs.
Alaska Air – Alaska Air was added to the “Conviction Buy List” at Goldman Sachs, which points to several positive factors for the airline including a favorable 2019 cost outlook.
Nutanix – Nutanix lost 13 cents per share for its fiscal first quarter, less than half of the 27 cents a share loss that analysts had anticipated, and the cloud software provider also saw revenue come in above estimates. However, the company did give weaker-than-expected current quarter guidance.
Campbell Soup – Campbell could name food industry veteran Mark Clouse as its next CEO, according to the Wall Street Journal quoting people familiar with the food company’s search. Clouse had been CEO of Pinnacle Foods prior to its acquisition by Conagra Brands. Clouse is said to be the leading candidate, although the paper says there’s no guarantee he’ll ultimately chosen or that he’ll accept the job.
Whirlpool – Whirlpool was downgraded from “outperform” to “neutral” at Credit Suisse, which notes that a solid pricing environment for appliances appears to be already reflected in Whirlpool’s stock price.
Delta Air Lines, American Airlines – The two airlines were rated “positive” in new coverage at Susquehanna Financial, which also assigns “neutral” ratings to United Continental and Southwest Airlines. It rates Delta the best among legacy carriers helped by a structural advantage provided by its Atlanta hub, and it feels American has strengthened its overall network.