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Thursday, November 1, 2018

Stocks making the biggest move premarket: DWDP, NFX, ECA, AAPL, CI & more

Check out the companies making headlines before the bell:

DowDupont – The chemical maker beat estimates by 3 cents a share, with adjusted quarterly profit of 74 cents per share. Revenue was slightly below forecasts, however. Its results were helped by strength in its cosmetics, paints, and packaging products. The company also announced a new $3 billion stock buyback program.

Newfield Exploration – Newfield agreed to be bought by Canadian oil and gas producer Encana in an all-stock deal valued at C$5.5 billion, or $4.2 billion in U.S. dollars. Encana plans to raise its dividend by 25 percent and expand its share buyback program once the deal closes.

Apple – Apple is in talks to buy a stake in radio station operator iHeartMedia, according to the Financial Times. The paper said Apple could also announce a marketing partnership rather than an investment.

Cigna – The insurance company reported adjusted quarterly profit of $3.84 per share, beating the consensus estimate of $3.44 a share. Revenue also beat forecasts, thanks in part to a drop in medical costs for its government health-care plans.

Teva Pharmaceutical – The drugmaker beat Street forecasts by 14 cents a share, with adjusted quarterly profit of 68 cents per share. Revenue also topped forecasts, and Teva raised its full-year forecasts as key drugs continue to post strong sales.

Spotify – The music streaming service posted an unexpected profit for its latest quarter, with analysts having anticipated a loss. Revenue also exceeded forecasts, and Spotify's monthly average users jumped 28 percent to 191 million.

Generac – The maker of home and commercial power generators beat consensus estimates by 35 cents a share, with adjusted quarterly profit of $1.43. Revenue also beat Wall Street forecasts. Generac saw strength in all its markets, as well as an increase in profit margins.

Tempur Sealy – The mattress retailer fell 16 cents a share short of estimates, with adjusted quarterly profit of $1.02 per share. Revenue also missed Street forecasts. Sales fell short of estimates in both domestic and international markets, and profit margins were loss than expected, as well. The company also cut its earnings forecast.

Hanesbrands – The apparel maker matched Street forecasts with adjusted quarterly profit of 55 cents per share, but revenue fell short of estimates. The company said overall performance was partly impacted by the Sears bankruptcy, but gave what it calls a "confident" outlook.

AIG – AIG lost an adjusted 34 cents per share for the third quarter, surprising analysts who had expected a profit of 6 cents per share. The insurance company's results were impacted by significant catastrophe losses in North America and Japan.

Fitbit – Fitbit earned an adjusted 4 cents per share for its latest quarter, compared to expectations of a 1 cent per share loss. The wearable fitness device maker's revenue also topped estimates, although the company did give mixed current-quarter guidance.

Roku – Wedbush upgraded the maker of streaming video devices to "outperform" from "neutral," saying a recent pullback in the stock was overdone and that it has built an exceptional platform to support its players.

Allstate – Allstate reported adjusted quarterly profit of $1.93 per share, shy of the $2.21 a share consensus estimate. The insurer's revenue came in above Street forecasts, however, and the company also announced a new $3 billion stock buyback plan.

Las Vegas Sands, Wynn Resorts — Shares in the casino operators may benefit from the news that gambling revenue in Macau rose 2.6 percent in October from a year earlier to about $3.4 billion, the highest monthly figure in four years. Gambling revenue in the Chinese territory has now risen for 27 straight months.

Royal Dutch Shell – Royal Dutch Shell posted its highest quarterly profit in four years during the third quarter, helped by rising oil and gas prices.

Pfizer – Pfizer was downgraded to "market perform" from "outperform" at BMO Capital Markets in what the firm said is a valuation call. The drugmaker's stock is up almost 19 percent so far this year.

SeaWorld Entertainment – SeaWorld was upgraded to "overweight" from "sector weight" at Keybanc, which cites higher confidence that the theme park operator will have a successful turnaround.

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