Play Video News Update – Pre-Markets
Check out the companies making headlines before the bell:
Procter & Gamble – The consumer products giant reported adjusted quarterly profit of $1.12 per share, exceeding estimates by 3 cents a share. Revenue also came in above Street forecasts and the company posted organic sales growth of 4 percent for its fiscal first quarter.
Honeywell – Honeywell earned an adjusted $2.03 per share for the third quarter, 4 cents a share above estimates. Revenue also came in above forecasts, with strong sales in the company's warehouse automation and aerospace businesses.
Ford Motor – The automaker's stock was downgraded to "equal-weight" from "overweight" at Morgan Stanley, which said it's seen limited progress from Ford's restructuring as well as increased risk in a variety of areas.
VF Corp. – The apparel maker topped estimates by 3 cents a share, with adjusted quarterly profit of $1.36 per share. Revenue also came in above expectations. VF was helped by strong demand for its Vans shoes and North Face clothing.
Harley-Davidson – BMO Capital downgraded the motorcycle maker's stock to "market perform" from "outperform," saying it made a "bad call" in a previous upgrade given that expected sales drivers did not materialize.
Amazon.com – Amazon has made a fresh round of visits to candidate cities for its planned second headquarters, according to The Wall Street Journal. The paper said Amazon has visited New York, Newark, Chicago, and others – although the visits don't necessarily mean that those cities are the most likely choices.
Walt Disney – Barclays upgraded Disney to "overweight" from "equal weight," saying the company has a key mix of assets to be successful in a world increasingly focused on "over the top" offerings.
American Express – American Express beat estimates by 11 cents a share, with quarterly profit of $1.88 per share. The financial services giant's revenue also topped forecasts, helped by a boost in credit-card spending.
PayPal – PayPal reported adjusted quarterly profit of 58 cents per share, 4 cents a share above estimates. Revenue for the payment services company also topped forecasts by a slight margin. PayPal saw a 15 percent increase of total active accounts to 254 million.
Apple – Apple was rated "outperform" in new coverage at Wedbush Securities, which set a $310 per share price target and added the stock to its "best ideas" list. Wedbush thinks the Street's consensus on iPhone demand may be too conservative.
Roku – The stock was upgraded to "outperform" from "sector perform" at RBC Capital, which noted the recent correction in the stock price and said the video streaming device maker represents one of the best opportunities in the ad-supported "over the top" programming space.
AIG – AIG said it expected third-quarter catastrophe losses of $1.5 billion to $1.7 billion. The insurer said the losses were largely related to two typhoons in Japan, Hurricane Florence in the U.S., and California mudslides.
DowDupont – DowDupont said it would take a $4.6 billion impairment charge, after an analysis showed its agriculture unit would not meet prior sales and profit projections.
Tesla – Tesla unveiled a $45,000 version of its Model 3 sedan, featuring a battery whose range is about 260 miles, 50 miles less than the more expensive version of the vehicle.
E*Trade Financial – E*Trade board chairman Rodger Lawson told analysts that the online brokerage firm is not for sale, saying its best path to create shareholder value is to continue to execute its business plan.
Skechers – Skechers reported quarterly profit of 58 cents per share, 7 cents a share above estimates. The footwear maker's revenue came in below Street forecasts, but still hit record levels thanks to growth in both domestic and international markets.
Intuitive Surgical – The company earned an adjusted $2.83 per share for its latest quarter, beating the consensus estimate of $2.66 a share. Revenue came in slightly above estimates, helped by increased use of its robotic surgical devices.
Micron Technology – Micron will buy out Intel's stake in a flash memory joint venture for $1.5 billion. The chipmaker said it expects to close the deal within six to 12 months.
Biogen – Biogen was downgraded to "market perform" from "outperform" at Bernstein, which said it is tough to envision material outperformance for the drug maker in 2019.
