Stocks making the biggest move premarket: AAPL, DIS, MO, BA, MCD & more
Check out the companies making headlines before the bell:
Apple – Apple’s iPhone XR has been the company’s best-selling model since it went on sale last month, according to a company executive who spoke to Reuters. Separately, Canaccord Genuity said its North America survey indicates soft smartphone demand with initial sales of Apple’s iPhone XR have been “disappointing,” according to a Reuters report.
Walt Disney – Walt Disney raised its semi-annual dividend to 88 cents per share from 84 cents a share. The next dividend payment will take place on January 10 to shareholders of record as of December 10.
Altria – The tobacco producer is in talks to take a minority stake in e-cigarette maker Juul Labs, according to sources quoted by Dow Jones.
Facebook – Facebook considered charging companies for access to its user data earlier this decade, according to a court documents. Facebook CEO Mark Zuckerberg emphatically told Congress earlier this year that “we don’t sell data.”
Boeing – The stock was named “best idea for 2019” at Cowen, which notes the jet maker’s “production sweet spot” and strong cash flow.
Dollar Tree – The discount retailer beat estimates by 4 cents a share, with quarterly profit of $1.18 per share. Revenue and comparable-store sales missed forecasts, however, and it gave weaker-than-expected current-quarter guidance.
Express – The apparel retailer reported quarterly profit of 11 cents per share, a penny a share above estimates. Revenue also beat forecasts, however comparable-store sales were flat compared to estimates of a 0.3 percent increase. Express also expects current-quarter comparable sales to fall by 5 to 7 percent, and earnings below current consensus.
Abercrombie & Fitch – Abercrombie beat estimates by 13 cents a share, with adjusted quarterly profit of 33 cents per share. The apparel retailer’s revenue was above estimates as well, and comparable-store sales were up 3 percent, nearly doubling the consensus 1.6 percent estimate.
Micron Technology — CEO Sanjay Mehotra told a Credit Suisse conference that the chipmaker’s fiscal first-quarter earnings would be at the high end of its prior guidance range. He also said tariffs will have a big impact on its gross margins, but that the company is working to mitigate that impact.
Quest Diagnostics – Quest lowered its 2018 revenue and earnings guidance, citing “volume softness” at its medical labs. The company said some of that softness was due to Hurricane Michael, the California wildfires, and the recent East Coast snowstorm.
Box – Box lost 6 cents per share for its latest quarter, 1 cent a share smaller than Wall Street had anticipated. The cloud storage company’s revenue was above estimates, as it added more customers, and it gave an upbeat full-year forecast.
Guess – Guess earned an adjusted 13 cents per share for its latest quarter, missing consensus forecasts by 3 cents a share. The apparel retailer’s revenue was in line with forecasts, and its U.S. comparable-store sales came in above estimates. Guess gave weaker-than-expected current-quarter earnings guidance, however.
Apollo Global – The private-equity firm and regional TV station owner Northwest Broadcasting are teaming up in a bid to buy Tribune Media, according to people familiar with the matter quoted by Reuters.
Booking Holdings – The travel website operator was rated “outperform” in new coverage at Telsey Advisory Group, which notes the company’s strong cash flow and lower capital costs than its competitors.
Match Group – The operator of Tinder and other dating websites was rated “outperform” in new coverage at Macquarie. The firm points to changes in pricing that will help Match and that are largely unappreciated by the Street.