Take a look at some of the biggest movers in the premarket:
Dick's Sporting Goods (DKS) – The sporting goods retailer earned $3.21 per share for the second quarter, well above the consensus estimate of $1.30 a share. Revenue was also well above forecasts, with comparable-store sales up 20.7% compared to a 9.9% FactSet consensus estimate. Dick's also saw e-commerce sales nearly triple during the quarter.
Apple (AAPL) – Wedbush raised its price target on Apple to a Street-high $600 per share from $515 a share, on expectations of what it calls an iPhone 12 "supercycle." Wedbush maintained its "outperform" rating on the stock.
Salesforce.com (CRM) – Salesforce reported quarterly earnings of $1.44 per share, more than double the 67 cents a share consensus estimate. The business software company's revenue also exceeded Street forecasts, and it also raised its full-year revenue forecast as it benefits from the increase in remote work and e-commerce.
Keurig Dr Pepper (KDP) – Morgan Stanley upgraded Keurig Dr Pepper to "overweight" from "equal weight," citing an increase in at-home coffee consumption among other factors.
Urban Outfitters (URBN) – Urban Outfitters surprised analysts by reporting a profit of 35 cents per share for its latest quarter, compared with expectations of a 40 cents per share loss. The apparel retailer also reported better-than-expected revenue despite a 13% drop in comparable-store sales, benefiting from an increase in digital sales amid pandemic-related store closures.
Nordstrom (JWN) – Nordstrom lost $1.62 per share for the second quarter, wider than the loss of $1.48 per share that analysts were anticipating. The department store operator also saw revenue come in below consensus, with net sales falling 53% from a year earlier as stores closed due to the pandemic.
Roku (ROKU) – Citi initiated coverage of the streaming video device maker with a "buy" rating, pointing to expectations of strong account growth as well as rising economic value per account.
Toll Brothers (TOL) – Toll Brothers beat estimates by 19 cents a share, with quarterly earnings of 90 cents per share. The luxury home builder's revenue also exceeded consensus. Orders surged more than 26% during the quarter, and Toll also gave an upbeat forecast for home deliveries during the current quarter.
Teva Pharmaceutical (TEVA) – The Justice Department charged the drugmaker of conspiring with other pharmaceutical companies to raise prices for generic drugs. Reuters reports that the charges came after Teva refused a settlement that would have required it to admit wrongdoing and pay a penalty. Teva said it firmly rejects the allegations and will vigorously defend itself in court.
Hewlett Packard Enterprise (HPE) – HPE reported quarterly earnings of 32 cents per share, 9 cents a share above estimates. Revenue beat Wall Street forecasts as well. The enterprise computing company also resumed forward guidance, giving a better-than-expected forecast for the current quarter and the full year.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond will cut about 2,800 jobs as part of a restructuring, in a move that the housewares retailer expects will save about $150 million per year.
Carnival Corp. (CCL) – Carnival's Princess Cruises unit canceled cruises scheduled for early 2021 for two of its ships, the Island Princess and Pacific Princess, citing Covid-19 related restrictions. This comes a day after Carnival's Cunard brand extended cancellations for that line's cruises through mid-May 2021.
Intuit (INTU) – Intuit reported quarterly profit of $1.81 per share, beating the consensus estimate of $1.05 a share. The financial software company's revenue also above Wall Street forecasts. The maker of TurboTax, QuickBooks and Mint saw an 83% sales surge, with activity picking up following the completion of a delayed tax season.
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August 26, 2020 at 06:47PM
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Stocks making the biggest moves in the premarket: Dick's Sporting Goods, Apple, Salesforce & more - CNBC
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