Stocks making the biggest moves premarket: Tesla, Gap, Nordstrom, Dell & more - Recent News from USA
Stocks making the biggest moves premarket: Tesla, Gap, Nordstrom, Dell & more

Stocks making the biggest moves premarket: Tesla, Gap, Nordstrom, Dell & more

Check out the companies making headlines before the bell:

Foot Locker — The athletic footwear and apparel retailer reported adjusted quarterly profit of $1.56 per share, compared to the $1.40 a share consensus estimate. Revenue also beat estimates, and a comparable-store sales increase of 9.7 percent was more than double the 4.6 percent prediction of analysts surveyed by Refinitiv.

Tesla — Tesla announced that it would sell a $35,000 version of its model 3, that future sales would be online only, and that it did not expect to be profitable during the first quarter. CEO Elon Musk did say he expects the automaker to return to profitability during the second quarter.

Gap — Gap announced it would split into two separate publicly traded companies. The apparel retailer’s Old Navy unit will become a standalone company, with the Gap and Banana Republic brands remaining. Separately, Gap announced quarterly profit of 72 cents per share, 4 cents a share above estimates. Revenue came in slightly below Wall Street forecasts and comparable-store sales unexpectedly fell.

Nordstrom — Nordstrom came in 6 cents a share above estimates, with quarterly earnings of $1.48 per share. The retailer’s revenue fell below Wall Street forecasts as customers bought less at its regular stores and more at its off-price locations. Nordstrom did give a 2019 full-year earnings forecasts that is largely above consensus.

Dell Technologies — The computer maker reported better-than-expected revenue in its first report since returning as a public company. Dell also gave a revenue forecast for its full year that is mostly above analysts’ forecasts. The company reported operating income of $331 million during the quarter but did not issue a per-share earnings number. — New York Governor Andrew Cuomo has been talking to Amazon executives in an attempt to get them to reconsider the decision to abandon a planned headquarters in Long Island City, New York.

Marriott — Marriott reported adjusted quarterly profit of $1.44 per share, 5 cents a share above estimates. Revenue was below analysts’ forecasts and the company forecast lower-than-expected full-year profit, as demand weakens in the North American market.

AT&T — AT&T said HBO CEO Richard Plepler is stepping down, and The Wall Street Journal is reporting that Turner president David Levy will announce his departure as soon as today. Both executives came to AT&T as part of its acquisition of Time Warner last year.

WPP Group — WPP reported better-than-expected profit and revenue, and the world’s largest advertising company also issued a better-than-expected full-year forecast.

Kraft Heinz — Kraft Heinz faces a shareholder lawsuit accusing the company of defrauding shareholders about its business prospects. The suit comes after the food maker announced a $15.4 billion writedown and slashed its dividend, resulting in a 27.5 percent one-day plunge for the stock.

Nutanix — Nutanix reported quarterly loss of 23 cents per share, 2 cents a share smaller than Wall Street had expected. Revenue was also above Street forecasts, however the cloud computing company gave a much-weaker-than-expected full-year forecast, with Nutanix saying it is in the process of addressing weaknesses in marketing and sales.

Caesars Entertainment — The casino operator announced an agreement with investor Carl Icahn, appointing three Icahn nominees to the board to replace three existing directors. Icahn will also have the right to appoint a fourth director if a new CEO who is acceptable to the new directors is not named within 45 days.

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