Stocks making the biggest moves premarket: Walmart, Hormel Foods, Marriott, others

Stocks making the biggest moves premarket: Walmart, Hormel Foods, Marriott, others

106800118 16058758222020 11 20t020323z 1954690444 rc2q6k9ys6ah rtrmadp 0 usa holidayshopping amazon com gifts
Check out the companies making headlines before the bell:

Walmart (WMT) – Walmart reported adjusted quarterly earnings of $1.39 per share, which includes a 7-cent impact from UK tax repayment. The consensus estimate had been $1.50. Revenue did beat forecasts, and US comparable sales excluding fuel were up 8.6% compared to the 5.8% FactSet estimate. The retailer’s shares are down 5% premarket.

Hormel Foods (HRL) – The food producer’s stock is up 2.2% premarket after earnings matched estimates at 41 cents per share and revenue beat Wall Street forecasts. Hormel also said it is increasingly optimistic about full-year sales and earnings growth.

Marriott (MAR) – Marriott bucked recent trends by hotel chains by beating Street estimates, earning an adjusted 12 cents per share for its latest quarter compared to an 11 cent consensus estimate. Revenue did miss forecasts as the company continues to be impacted by the pandemic.

Waste Management (WM) – Waste Management shares are up 1% premarket after the waste-hauling company beat estimates by 4 cents with an adjusted quarterly profit of $1.13 per share, with revenue beating estimates as well. Waste Management is also raising its dividend by 12 cents on an annual basis to $2.30 per share.

Tilray (TLRY) – Tilray lost an adjusted 2 cents per share for its latest quarter, smaller than the 15 cent loss expected by Wall Street analysts, while the cannabis producer’s revenue was above estimates. The results come ahead of Tilray’s planned merger with rival Aphria (APHA), which it expects to close in the second quarter. The stock is up 4% in premarket action.

SunPower (SPWR) – SunPower doubled consensus estimates with adjusted quarterly earnings of 14 cents per share, although the solar company’s revenue fell short of forecasts. SunPower also issued weaker than expected current quarter guidance, and its shares are down 7.1% in premarket trading.

Twilio (TWLO) – Twilio is up 9.5% premarket after it reported an adjusted profit of 4 cents per share for its latest quarter, surprising analysts who had expected the cloud computing platform provider to report an 8 cents per share loss. Revenue also came in well above Street forecasts, with results helped by recent acquisitions and election-related business as well as what Twilio calls “broad-based diversified strength”.

Baidu (BIDU) – Baidu saw quarterly revenue come in above analyst projections, with the search engine’s ad sales bouncing back and the company’s cloud services seeing increased demand. Baidu shares are down 1.2% this morning.

Sleep Number (SNBR) – Sleep Number shares are surging 12.7% premarket after it reported quarterly earnings of $2.19 per share, beating the consensus estimate of $1.45, with the mattress retailer’s revenue also exceeding estimates. Sleep Number also issued upbeat full-year guidance.

Tesla (TSLA) – Tesla cut prices for the cheaper versions of its Model 3 and Model Y vehicles, although it raised prices for upper-end variants. Shares are down 2% premarket.

Nutrien (NTR) – Nutrien reported better-than-expected earnings for its latest quarter, as the Canadian fertilizer maker saw increased demand amid rising crop prices and plans by farmers to plant more acres this year. The stock is up 3.8% premarket.

Fastly (FSLY) – Fastly shares are under pressure, down 6.2% premarket, after the cloud-platform provider reported better-than-expected earnings and revenue for its latest quarter but issued a lower than expected forecast.

Tanger Factory Outlets (SKT) – The shopping center operator is up 3.1% after reporting a breakeven quarter, compared to forecasts of a 2 cents per share loss, while revenue beat estimates as well. Tanger saw an increase in foot traffic during the quarter, although lower occupancy rates continue to weigh on revenue.

Bloomin’ Brands (BLMN) – The restaurant operator’s shares are down 4.1% premarket after revenue fell below Street forecasts for its latest quarter. The company did report a breakeven quarter on an adjusted basis, compared to forecasts of a 2 cents per share loss.

Credit: CNBC

Leave A Comment

Your email address will not be published. Required fields are marked *