CNBC: Stocks making the biggest moves premarket: Delta Air Lines, Snap, Comerica, Fastenal & more

Wal-Mart.com USA, LLC


Check out the companies making headlines in the premarket Thursday:

Delta Air Lines — The airline reported better-than-expected earnings, lifting its stock by more than 2%. Delta reported a profit of $2.35 per share, topping a Refinitiv estimate of $2.28. Delta also posted a record revenue of $12.5 billion for the quarter.

Amazon — Amazon unveiled plans to retrain 100,000 of its U.S. workers — or a third of its overall workforce — by 2025 to help them move to more advanced jobs or find new careers.

American Eagle Outfitters — The retailer struck a deal with cannabis company Green Growth Brands to sell its CBD-infused products online and in nearly 500 stores.




Snap — A Bank of America/Merrill Lynch analyst raised its price target on Snap to $17 per share from $12 a share, citing an uptick in Snapchat app downloads. The analyst said third-party data shows second-quarter downloads were “near record levels.” Snap shares rose more than 1% in the premarket.

Target, Walmart, Costco Wholesale, Home Depot — Analysts at Goldman Sachs initiated coverage of the retailers with a “buy” rating, highlighting a “solid macro environment” that drives “strong results.” Target, Walmart, Costco, and Home Depot all traded slightly higher.

Comerica — The bank’s stock fell 2% after Bank of America/Merrill Lynch downgraded it to “underperform” from “buy” and slashed its price target to $71 per share from $85 a share. “CMA is the most short-rate sensitive stock in our universe, and we believe shares will continue to lag peers as the Fed cuts rates,” Bank of America said.


Abercrombie & Fitch — Abercrombie shares rose 1.3% after an analyst at Wedbush upgraded the stock to “neutral” from “underperform,” citing an attractive valuation and a potential revenue inflection point.

Wal-Mart.com USA, LLC

Weight Watchers — An analyst at J.P. Morgan upgraded Weight Watchers to “neutral” from “underweight” and hiked her price target to $22 per share from $17 a share. The analyst said the company’s subscriber trends have “stabilized,” adding: “We believe investors are beginning to look past the expected ~50% earnings decline this year and instead focus on the potential growth opportunity in 2020.”






Fastenal — Fastenal shares dropped more than 4% after the industrial supplies company posted weaker-than-forecast quarterly results. The company posted earnings per share of 36 cents a share, just below a Refinitiv estimate of 37 cents a share.

Microsoft — Cowen initiated the tech giant with an “outperform” rating and a price target of $150 per share. “We expect MSFT’s Commercial Cloud, including both Office 365 Commercial and Azure, to be the primary driver of growth going forward,” Cowen said.

Wal-Mart.com USA, LLC

—CNBC’s Michael Bloom contributed to this report.

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Source: cnbc.com

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