Stocks making the biggest moves premarket: Tesla, Coca-Cola, Twitter, Verizon, Hasbro & more

This post was originally published on this site

Check out the companies making headlines before the bell:

United Technologies — The aerospace company reported an adjusted $1.91 per share for the first quarter, 20 cents a share above estimates. Revenue also came in above Wall Street forecasts, and the company raised its full-year outlook.

Coca-Cola — The beverage giant beat estimates by 2 cents a share, with adjusted quarterly profit of 48 cents per share. Revenue came in above forecasts as well. Coca-Cola benefited from improved sales of water and new soft drink flavors.

Procter & Gamble — The consumer products maker earned an adjusted $1.06 per share for its latest quarter, 3 cents a share above estimates. Revenue topped Wall Street forecasts and P&G raised its organic sales growth outlook.

Verizon — Verizon earned an adjusted $1.20 per share for the first quarter, 3 cents a share above estimates. Revenue was slightly below forecasts, however, but Verizon did boost its full-year guidance.

Twitter — Twitter’s quarterly earnings came in at an adjusted 37 cents per share, well above the consensus estimate of 15 cents a share. Revenue also beat forecasts. Twitter’s monetizable daily users — a new metric — rose by eight million to 134 million, also exceeding analysts’ forecasts.

Hasbro — The toymaker reported a quarterly profit of 21 cents per share, surprising analysts who had expected an 11 cents per share loss. Revenue was well above expectations, and the company said its overall results were helped by cost savings and higher profit margins.

Lockheed Martin — The defense contractor earned $5.99 per share for the first quarter, well above the consensus estimate of $4.34 a share. Revenue also came in above Wall Street forecasts and Lockheed Martin raised its full-year outlook.

Harley-Davidson — Harley earned 80 cents per share for the first quarter, beating the consensus estimate of 65 cents per share. Revenue beat forecasts, as well, and Harley’s U.S. market share increased.

Whirlpool — Whirlpool reported adjusted quarterly profit of $3.11 per share, beating the consensus estimate of $2.86 a share. Revenue fell below forecasts, however. Whirlpool said it expected lower costs from tariffs and raw materials this year.

Exxon Mobil — Exxon Mobil struck a 20-year liquefied natural gas supply agreement with China’s Zhejiang Energy. Financial details were not disclosed.

Dow Inc. — Dow locked out union workers at its Deer Park, Texas, chemical plant after members of the United Steelworks Union rejected its latest contract proposal.

Tesla — CEO Elon Musk said the automaker’s robotaxis with no human drivers would hit some U.S. markets next year. He made the pronouncement at an investor webcast presentation. Musk also said: “It’s financially insane to buy anything other than a Tesla,” says the CEO of the electric auto maker. It would be like owning a horse in three years.

Sprint — Sprint and AT&T have settled a lawsuit in which Sprint had accused its rival of deceptive advertising over its “5G E” branding. Terms of the settlement weren’t announced, but an AT&T spokesman told CNBC that the two sides have “amicably” settled the matter.

Facebook — Facebook hired State Department lawyer Jennifer Newstead as its general counsel, and also named former Microsoft public relations chief John Pinette as its new vice president of global communications.

PG&E — PG&E will add another director to its board with experience in the utility industry, as well as adding a safety specialist as an executive advisor. The moves are part of an agreement by the California utility with activist investor BlueMountain Capital Management.

Lyft — Lyft was rated “buy” in new coverage at both Stifel Nicolaus and Jefferies, with both citing the growth of the ride-sharing industry and Lyft’s strong No. 2 position in the market.

Add Comment