Stocks making the biggest moves premarket: Netflix, IBM, PepsiCo, Morgan Stanley, Boeing & more


    Check out the companies making headlines before the bell:

    QualcommQualcomm shares are surging after the chipmaker and Apple reached a settlement in their long-standing patent dispute which will result in Apple once again using Qualcomm chips in iPhones. Intel, which had been Apple’s chip supplier for the past year amid the Qualcomm conflict, made an announcement following the settlement that it would exit the modem chip business.

    NetflixNetflix reported quarterly profit of 76 cents per share, beating the consensus estimate of 57 cents a share. The video streaming service’s revenue was slightly above Wall Street’s projections. Netflix shares are coming under pressure, however, after it gave a weaker-than-expected forecast amid worries about increasing competition from Walt Disney and others.

    T-Mobile, SprintThe two mobile carriers have been told by Justice Department staffers that their proposed $26 billion merger is unlikely to be approved in its current form, according to The Wall Street Journal.

    IBMIBM beat Wall Street forecasts by 3 cents a share,with adjusted quarterly profit of $2.25 a share, but revenue fell slightly short of analysts’ forecasts. IBM also forecast 2019 revenue below expectations, with pressure coming from weaker mainframe computer demand and a stronger dollar.

    United ContinentalUnited came in 20 cents a share above estimates, with adjusted quarterly profit of $1.15 per share. The airline’s revenue came in below forecasts, however, and United trimmed its planned flight capacity forecast for the year, due in part to the grounding of Boeing’s 737 Max aircraft.

    CSXCSX reported quarterly profit of $1.02 per share, 11 cents a share above estimates. The rail operator’s revenue was essentially in line with forecasts. Results were helped by higher prices and lower labor and fuel costs.

    EricssonEricsson reported better-than-expected profit and sales for the first quarter, with the telecom equipment maker seeing particularly strong growth in the North American market.

    BoeingBoeing is being pushed by proxy advisory firms ISS and Glass Lewis to separate the roles of chairman and CEO, following two fatal crashes involving the company’s 737 Max aircraft.

    TiffanyTiffany was rated “outperform” in new coverage at Bernstein, which is encouraged by the direction taken by the luxury goods retailer’s new CEO and senior management team.

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