Stocks making the biggest moves premarket: MS, TXT, IBM, UAL, CSX, LUV, AMZN & more
Check out the companies making headlines before the bell:
Morgan Stanley â" The firm reported quarterly profit of $1.45 per share, 20 cents a share above estimates. Revenue also beat forecasts. CEO James Gorman said results were strong across all business and in all regions.
Textron â" The maker of the Bell Helicopter and Cessna aircraft brands reported quarterly profit of 72 cents per share, well above the consensus estimate of 48 cents a share. Revenue also topped forecasts. Separately, Textron announced the sale of its tools and test equipment business to Emerson Electric for $810 million.
IBM â" IBM reported adjustedfirst-quarter profit of $2.45 per share, beating estimates by 3 cents a share. Revenue also exceeded forecasts, however shares are under pressure this morning after the company issued a lower-than-expected full-year profit forecast. Analysts say IBM's legacy hardware business is continuing to hurt growth and profit margins.
United Continental â" United came in 10 cents a share ahead of estimates, with adjusted first-quarter profit of 50 cents per share. The airline's revenue came in marginally above forecasts. Higher passenger fares helped negate the effects of higher fuel prices and a series of winter storms.
CSX â" CSX earned 78 cents per share for the first quarter, 12 cents a share ahead of consensus forecasts. The rail operator's revenue beat estimates, as well. The results were boosted by a substantial drop in its operating ratio, with expenses at 63.7 perc ent of revenue compared to 73.2 percent a year earlier.
Southwest Airlines â" Southwest remains on watch following Tuesday's accident that killed one passenger. The airline said it would fully cooperate with the Federal Aviation Administration and the National Transportation Safety Board as those agencies investigate the accident.
Amazon.com â" Amazon announced a new international shopping feature that allows customers from around the world to shop for items shipped from the United States. Amazon will offer a variety of shipping and currency options. Separately, Amazon and Best Buy are teaming up to sell Amazon Fire-powered smart TVs.
Tesla â" Tesla wants to ramp up Model 3 production to 6,000 cars per week by the end of June, according to auto news website Electrek citing a le tter to employees from CEO Elon Musk.
Intuitive Surgical â" The company reported adjusted quarterly profit of $2.44 per share, beating the consensus estimate of $2.07 a share. The medical device maker's revenue was well above forecasts, on increasing sales of its da Vinci robotic surgical device.
Norwegian Cruise Line â" Deutsche Bank upgraded the cruise line operator's stock to "buy" from "hold," pointing to several positive factors including the possible initiation of a dividend and a closing of the valuation gap with rival Royal Caribbean.
EBay â" Morgan Stanley gave the online marketplace a double upgrade, raising its rating to "overweight" from "underweight." Morgan Stanley bases its call on increasing ad revenue as well as high er volume driven by eBay's new payments system.
Lam Research â" Lam earned an adjusted $4.79 per share for its latest quarter, 41 cents a share above estimates. The manufacturer of chipmaking equipment saw revenue match forecasts, and it gave stronger-than-expected guidance for the current quarter.
VMWare â" Activist investor Carl Icahn has taken a stake in VMWare, according to sources. The stake in the cloud computing company is described as "medium-sized" and Icahn's intentions are unclear.
Ethan Allen â" Ethan Allen expects to have higher marketing costs and delayed deliveries for its third quarter, resulting in lower than expected earnings for the furniture retailer.
Riot Blockchain â" The S ecurities and Exchange Commission has issued a subpoena to the cryptocurrency company whose stock skyrocketed after changing its name, the company said on Tuesday.Source: Google News US Business | Netizen 24 United States