Latest News

Stocks making the biggest moves premarket: Wyndham Hotels, Dollar Tree, Johnson & Johnson and more

0

Check out the companies making headlines before the bell. Wyndham Hotels & Resorts , Choice Hotels — Choice Hotels dropped 2.3% after the hotel chain proposed buying Wyndham Hotels & Resorts for $90 per share, valuing Wyndham at roughly $7.8 billion. Wyndham’s stock popped 15% on news of the offer. Bank of America — The bank rose 1% premarket after third-quarter results topped Wall Street expectations. Charlotte, NC-based BofA reported 90 cents in earnings per share on $25.32 billion of revenue. Analysts surveyed by LSEG, formerly Refinitiv, were looking for 82 cents in earnings on $25.14 billion of revenue. Bank of America also reaffirmed its full-year guidance for net interest income. Dollar Tree — Shares of the discount retailer gained more than 2% after getting an upgrade from Goldman Sachs to buy from neutral. The investment bank sees strong earnings growth potential and likes DLTR’s compelling valuation. Ollie’s Bargain Outlet, also upgraded to buy at Goldman, added 2.4% on light volume. Bank of New York Mellon — Shares rose 1.1% before the bell on Tuesday after the trust bank beat Wall Street expectations in the third quarter. Bank of New York Mellon earned $1.22 per share on $4.37 billion in revenue in the quarter, exceeding analysts’ estimates on both lines. Consensus estimates from LSEG came to $1.15 earned per share and $4.33 billion in revenue. Johnson & Johnson — Shares of the multinational drug and medical equipment maker gained nearly 2% after third-quarter earnings and sales topped analyst estimates. J & J posted adjusted earnings per share of $2.66 on $21.35 billion in revenue, while analysts polled by LSEG forecast an adjusted $2.52 and $21.04 billion, respectively. Fortrea Holdings — Shares of the contract research company jumped more than 6% before the stovck market open after the Wall Street Journal reported that activist investor Starboard Value had built a stake of more than 5% in the company. Lockheed Martin — The defense stock shed fell more than 1.5% after reporting a 2% gain in quarterly sales but a decline in profit as margins fell in three of its four business units. Lockheed Martin reported earnings of $6.73 per share, surpassing expectations of $6.67 per share, according to estimates from LSEG. Revenue came to $16.88 billion, exceeding analysts’ average estimate of $16.74 billion. — CNBC’s Jesse Pound, Michelle Fox Theobald and Brian Evans contributed reporting.

Johnson & Johnson beats on earnings and hikes outlook as medtech, pharmaceutical sales surge

Previous article

Retail sales rose 0.7% in September, much stronger than estimate

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News