Connect with us

First News in the World

Bank of America, UAL, Amazon & more

Stocks making the biggest moves after hours: Box, Coupa and more


Bank of America, UAL, Amazon & more

Check out the companies making headlines before the bell:

Bank of America – The bank reported quarterly profit of 74 cents per share, beating consensus by 3 cents a share. Revenue was just above forecasts, with the bank’s results helped in part by stronger retail banking performance. Net interest income came in slightly below analysts’ forecasts, however.

United Airlines – United earned an adjusted $4.21 per share for the second quarter, beating the consensus estimate of $4.09 a share. The airline’s revenue also beat estimates, and revenue per available seat mile rose 2.5%. United still expects profits to rise despite capacity cuts caused by the grounding of Boeing’s 737 Max jet.

CSX – CSX came in 3 cents a share shy of forecasts, with quarterly profit of $1.08 per share. The rail operator’s revenue missed estimates, as well. CSX’s results were impacted by the ongoing U.S.-China trade dispute, and the company also cut its full-year revenue forecast.

PNC Financial – PNC beat estimates by 6 cents a share, with quarterly profit of $2.88 per share. Revenue was also slightly above Street forecasts, aided by a rise in interest income and in loan volume.

Qualcomm – The Justice Department asked a federal appeals court to put enforcement of an antitrust ruling against the chip maker on hold. DOJ officials pointed to support for that move from the Energy and Defense Departments, which say it would be impossible to replace Qualcomm’s role in 5G technology.

Nu Skin Enterprises – Nu Skin said second-quarter earnings would come in below forecasts, due to reduced revenue in China for the maker of personal care products. Nu Skin also points to negative impact from a falling dollar.

DouYu International (DOYU) – DouYu priced its U.S. initial public offering at $11.50 per share, at the low end of the expected range. The China-based video streaming service, which is backed by Chinese internet giant Tencent, will debut today on the Nasdaq.

IAC/InterActiveCorp – IAC is paying $250 million to buy a stake in car-sharing app company Turo. The deal will make IAC Turo’s largest shareholder. – Amazon struck a deal with German regulators that overhauls its terms of service for third party merchants. The deal will end a seven-month investigation. Amazon is facing a formal European Union investigation into its dealings with those third party merchants.

Sprint – The mobile operator said a security breach exposed subscriber information, according to a letter to customers obtained by ZDNet. Sprint said it was informed of the hack in late June.

Cintas – Cintas reported adjusted quarterly profit of $2.07 per share, beating the consensus estimate of $1.93 a share. Revenue also came in above forecasts, on the strength of growth in its uniform rental and safety segments.

Hershey – The chocolate maker was upgraded to “neutral” from “sell” at Goldman Sachs, based on the decision by competitor Mars to follow Hershey’s lead in raising prices.

Ralph Lauren – The apparel maker’s stock was downgraded to “sell” from “neutral” at Goldman, citing headwinds in the core North American market as well as brand-specific challenges.

Levi Strauss – Goldman also downgraded the jeans maker’s stock to “sell” from “neutral,” noting an elevated valuation compared to peers even amid solid brand momentum.

Beyond Meat – Restaurant chain Tim Hortons announced the addition of the company’s plant-based burgers to its lunch and dinner menus. The action by the Restaurant Brands Internationalowned company follows news yesterday that Blue Apron was adding Beyond Meat as an option for its meal kits.

Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

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


To Top
error: Content is protected !!