Stocks making the biggest moves premarket: J&J, Bank of America, BlackRock, Netflix & more


    Check out the companies making headlines before the bell:

    Bank of America — The bank earned 70 cents per share for the first quarter, 4 cents a share above estimates. Revenue came in slightly below forecasts, amid what CEO Brian Moynihan called a “challenging” capital markets environment.

    BlackRock The asset management firm beat earned $6.61 per share for the first quarter, compared to a consensus estimate of $6.13 a share. Revenue was in line with Wall Street forecasts, and BlackRock also announced a 5% dividend increase.

    Netflix Netflix was upgraded to “buy” from “hold” at Deutsche Bank, based on valuation and consensus subscriber estimates that the bank considers conservative.

    AT&T — AT&T sold its ownership stake in Hulu to the video streaming service for $1.43 billion, a sale that values Hulu at $15 billion. That leaves Walt Disney and NBCUniversal and CNBC parent Comcast as Hulu’s owners, with Disney owning 60%.

    J.B. Hunt Transportation Services — J.B. Hunt reported quarterly profit of $1.09 per share, missing the $1.26 a share consensus estimate. The trucking and logistics company’s revenue was short of forecasts as well, as its volumes were hurt by severe weather conditions in the Midwest.

    Chevron — Chevron won a court victory in a case involving Ecuador’s attempt to collect a $9.5 billion judgment against the energy giant over pollution. The Supreme Court of the Netherlands ruled against Ecuador’s attempt to overturn an international tribunal ruling in Chevron’s favor.

    Goldman Sachs — Goldman will lay off 98 employees in New York, according to a filing with New York State. The filing said the workers are being dismissed for economic reasons, but did not specify where the layoffs would occur within the bank.

    Amgen — Amgen set a list price of $1,825 per month for its Evenity osteoporosis drug. The Food and Drug Administration approved the drug last week, but mandated a so-called “black box” warning about an increased risk of heart attack and stroke.

    Walmart — Walmart announced a partnership with children’s styling service Kidbox, and will offer fashion boxes for kids containing five items for $48. That represents a 50 percent discount off suggested retail prices for the items.

    DowDupont — DowDupont was downgraded to “sector perform” from “top pick” at RBC Capital Markets, which points to macroeconomic concerns for the chemical maker.

    Western Digital — Western Digital was upgraded to “buy” ‘from “hold” at Deutsche Bank, which cites favorable data points in both hard disk drives and NAND flash memory.

    Source link


    Please enter your comment!
    Please enter your name here