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Stocks with the biggest pre-market gains
Take a look at some of the companies making moves in pre-market trading:
- Crocs — Williams Trading upgraded the footwear company’s stock to buy from hold, sending its shares up more than 1%. The investment firm said Crocs’ hiring of actress Sydney Sweeney as the face of its Heydude brand could help reverse negative sales trends.
- Agilent Technologies — The lab supplies company’s fiscal third-quarter results beat Wall Street expectations, sending its shares up more than 2%. The company reported earnings of $1.32 per share, excluding items, on revenue of $1.58 billion. Analysts polled by LSEG expected earnings of $12.6 billion per share and revenue of $1.56 billion.
- Nordson — Shares of adhesives company Nordson rose more than 3% after the company reported better-than-expected third-quarter results. Nordson earned $2.41 per share, excluding items, on revenue of $661.6 million. Analysts polled by FactSet expected $2.33 per share on revenue of $656.5 million.
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– Brian Evans Oct 14 ’17 at 14:25
Advance Auto Parts shares fall after earnings miss and forecast cut
Shares Advanced Auto Parts The auto parts supplier reported second-quarter earnings that missed analysts’ expectations, sending its shares down more than 11% in premarket trading.
The company earned 75 cents per share. Analysts polled by StreetAccount expected earnings of 93 cents per share. The company also lowered its earnings forecast to between $2 and $2.50 per share. It previously expected earnings between $3.75 and $4.25 per share.
AAP down
The stock rose after Bloomberg reported that Carlyle agreed to buy Advance Auto Parts’ Worldpac business for $1.5 billion.
– Fred Ebert Oct 29 ’17 at 14:25
Deutsche Bank rises after settling majority of Postbank lawsuit claims
US stocks Deutsche Bank The stock rose more than 2% after it announced a settlement for multiple plaintiffs in a long-running case related to its acquisition of Postbank.
The German bank said it had reached a settlement of 31 euros ($34.53) per share with more than 80 plaintiffs, or nearly 60 percent of the total, in a lawsuit alleging that Deutsche Bank underpaid when it bought Postbank more than a decade ago.
The stock price will rise by more than 15% in 2024.
—Alex Haring, Jenny Reid
European stocks open slightly higher
European stocks opened slightly higher on Thursday as investors focused on the Federal Reserve’s indications on the future path of interest rates.
Pan-European STOXX 600 The index rose 0.10% in early trade, with most sectors and major bourses in the green. Travel and leisure stocks rose 0.44%, while mining stocks fell 0.55%.
Earlier, the pan-European benchmark index closed higher on Wednesday, with most sectors in positive territory as the market rebounded after a break in Tuesday’s upward momentum.
STOXX 600.
Urban Outfitters sales remain problematic
Urban Outfitters easily beat earnings estimates ($1.24 vs. $1.00) while revenue was roughly in line with analyst forecasts. But shares fell as the apparel retailer reported disappointing same-store sales figures.
The company’s namesake brand remains a big problem. Sales at Urban Outfitters stores open at least a year fell 9.3% in the latest quarter — higher than Wall Street’s expectations of 8.3%. It was the ninth straight quarter of same-store sales declines for the brand.
The 9% decline in the latest quarter also exacerbated severe weakness over the past two years. In the same period last year, same-store sales at the Urban Outfitters brand fell 14%, compared with a 9% decline in the quarter two years ago.
— Robert Hen
Four of the 11 S&P 500 sectors hit new 52-week highs on Wednesday
The health care, utilities, real estate and consumer staples sectors of the S&P 500 all hit new 52-week highs on Wednesday, according to FactSet data. No stock closed more than 0.74% below its 52-week high (utilities), and real estate closed just 0.08% below its 52-week high.
Energy stocks in the S&P 500 had their longest winning streak since reaching 52 weeks, last hitting that level on April 5, followed by materials stocks on April 9.
The largest percentage declines since their 52-week highs were also in energy, down 9.7%, followed by communications services, down 5.56% (since July 5), and information technology, down 5% (July 10).
Although the materials sector last traded at a 52-week high in April, it has only fallen 1.4% since then.
—Scott Schnipper
Snowflake, Zoom, Urban Outfitters and more stocks rise after the close
Check out the companies making headlines in after-hours trading.
- snowflake — Shares of the software company fell nearly 7% even though it beat quarterly results and slightly raised its full-year product revenue forecast. Snowflake reported fiscal second-quarter adjusted earnings of 18 cents per share, topping the 16 cents per share expected by analysts polled by LSEG. The company had revenue of $869 million for the quarter, topping analysts’ expectations of $851 million.
- Urban Outfitters — Same-store sales disappointed analysts, sending the retailer’s shares down about 4%. Sales at Urban Outfitters brand stores open at least a year fell 9.3% in the second quarter, compared with analysts’ expectations for an 8.3% decline. At the same time, the company’s earnings and revenue beat expectations.
- Zoom Video — Zoom shares edged up 2.7% after reporting strong second-quarter results that beat expectations. The company reported adjusted earnings of $1.39 per share and net income of $1.16 billion, beating earnings of $1.21 per share. Zoom also announced that its chief financial officer, Kelly Steckelberg, will leave the company.
For more information, read here.
– Pia Singh May 24 ’17 at 14:25
Stock index futures opened slightly higher on Wednesday
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