Stocks making the biggest moves in the premarket: P&G, Gilead, Schlumberger, Boeing, Apple & more

Stock Market

Take a look at some of the biggest movers in the premarket:

Procter & Gamble (PG) – The consumer products giant earned $1.17 per share for its latest quarter, beating consensus estimates by 4 cents a share. Revenue came in below analysts’ projections. Organic sales were up 6% during the quarter thanks in large part to pandemic-related stockpiling, and the company maintained its prior forecast for organic sales. P&G cut its outlook for full-year revenue growth due to currency factors.

Gilead Sciences (GILD) – A report in a health care publication said Gilead’s experimental drug remdesivir was seeing clinical trial success in treating Covid-19 patients.

Schlumberger (SLB) – The oilfield services company beat estimates by a penny a share with quarterly profit of 25 cents per share. Revenue was below Street forecasts. Schlumberger slashed its quarterly dividend by 75% to 12 1/2 cents from 50 cents. Schlumberger took a one-time charge of $8.5 billion during the quarter related to impairments resulting from the coronavirus outbreak and the severe decline in oil prices.

Regions Financial (RF) – The bank reported quarterly earnings of 14 cents per share, missing the consensus estimate of 23 cents a share. Revenue also came in below forecasts. Regions increased its credit loss provision to $373 million from $96 million at the end of the prior quarter and said its capital and liquidity levels were strong as it deals with challenging conditions stemming from the coronavirus outbreak.

Moderna (MRNA) – The drugmaker will receive $483 million in government funding to help accelerate the development of its experimental coronavirus vaccine.

Boeing (BA) – Boeing will resume limited commercial jet production in the Seattle area on Monday, following a three-week shutdown. The jet maker had suspended all production in the region in response to virus concerns and travel restrictions.

Apple (AAPL) – Apple was downgraded to “sell” from “neutral” at Goldman Sachs, which points to the potentially significant effect of the coronavirus on demand for Apple’s iPhone.

Intuitive Surgical (ISRG) – The surgical device maker reported quarterly profit of $2.69 per share, beating consensus estimates by 15 cents a share. Revenue also topped expectations, driven by an 11% increase in the installed base of the company’s da Vinci surgical systems and an increase in procedures using da Vinci.

Uber Technologies (UBER) – Uber said results for the March quarter will take a roughly $2 billion hit, to write down the value of various minority equity investments that have been impacted by the coronavirus outbreak. The ride-hailing service also said a financial assistance program for drivers and delivery workers would cut up to $21 million off revenue for the first quarter and up to $80 million for the second quarter.

Southwest Airlines (LUV) – Southwest is asking its unions to consider potential concessions to aid in what’s expected to be a slow industry recovery, according to a Reuters report.

Facebook (FB) – Facebook canceled all large in-person events through June 2021, and said employees would be required to work from home through at least the end of May.

Lululemon (LULU) – Lululemon said Chief Financial Officer Patrick Guido will leave the company on May 8 to take a job in a different industry. Guido had joined the athletic apparel maker in 2018.

Cedar Fair (FUN) – The amusement park operator said it expects first-quarter revenue to fall by to $15 million from $25 million a year ago due to the virus outbreak, and that it has suspended up to $100 million in nonessential capital projects. Cedar Fair has also suspended the company’s quarterly distribution.

Products You May Like

Articles You May Like

How Real Money Trading Helps You Gain Valuable Experience
Stock Trading Mistake: When You Are Right, But Still Lose
Active Stock Trading Time Zones & Hours
Stocks to Buy on Lumber Crash

Leave a Reply

Your email address will not be published.