Stocks making the biggest moves premarket: JC Penney, Nvidia, Nike, Lyft, GrubHub & more

Market Insider

Check out the companies making headlines before the bell:

J.C. Penney The retailer lost an adjusted 30 cents per share for its latest quarter, smaller than the 55 cent loss that analysts were predicting. Revenue did come in below forecasts, but an adjusted comparable store sales drop of 6.6% was smaller than the consensus estimate of a 7.7% decline.

Nvidia – Nvidia reported adjusted quarterly earnings of $1.78 per share, beating the consensus estimate of $1.57, while the graphics chipmaker’s revenue also beat Wall Street forecasts. However, Nvidia said its gaming chip business will be impacted by seasonal weakness during the current quarter.

Applied Materials – Applied Materials beat estimates by 4 cents with adjusted quarterly earnings of 80 cents per share, while the maker of semiconductor manufacturing equipment also saw revenue beat estimates. Results were helped by stronger demand for processor chips.

Nike – Nike announced an 11% increase in its quarterly dividend, raising it to 24.5 cents per share from the prior 22 cents. The athletic footwear and apparel maker has increased its dividend in 18 consecutive years. – Amazon said it would challenge the award of a $10 billion Pentagon cloud computing contract to Microsoft, with the online retailer adding that politics may have interfered with a fair process. President Trump is a long-time critic of Amazon and founder Jeff Bezos.

Aurora Cannabis – Aurora Cannabis reported a 23% decline in revenue for its latest quarter, and the Canada-based cannabis producer said it would slow expansion plans both in its home country and abroad.

RH – The luxury home goods retailer is seeing its shares get a boost on news that Warren Buffett’s Berkshire Hathaway took a new stake in the Restoration Hardware parent. The news came in Berkshire’s quarterly 13-F filing.

Under Armour – Under Armour executives were pushed to meet aggressive sales targets, according to former executives who spoke to the Wall Street Journal. The athletic apparel maker is under investigation for allegedly borrowing revenue from future quarters to mask slowing demand. – The China-based internet company reported better than expected quarterly revenue, helped by growth in sales for its core e-commerce unit.

Lyft – JPMorgan Chase added Lyft as a “top pick”, noting significantly improved revenue and earnings as well as increased market share in the ride-hailing business.

GrubHub – Barclays gave the food delivery service’s shares a double upgrade, to “overweight” from “underweight”. The Barclays note comes in the form of recommendations to the GrubHub board to vastly improve operations and shareholder value, following a 75% decline in GrubHub shares over 15 months.

Articles You May Like

Introducing StockTracker Master Class Volume 1