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Stocks making the biggest moves premarket: Tiffany, JetBlue, Autodesk

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Stocks making the biggest moves premarket: Tiffany, JetBlue, Autodesk


A shopper carries a Tiffany & Co. retail bag on Fifth Avenue in New York, May 30, 2019.

Victor J. Blue | Bloomberg | Getty Images

Check out the companies making headlines before the bell:

Tiffany – Tiffany earned $1.12 per share for its latest quarter, beating estimates by 8 cents. Revenue and comparable stores were below estimates, but the luxury goods retailer reported double-digit growth in mainland China and also maintained its full-year sales and earnings outlook.

Movado – The watch maker reported adjusted quarterly earnings of 36 cents per share, missing the consensus estimate of 50 cents, and revenue also fell below Wall Street forecasts. Movado also cut its full-year outlook, citing category challenges, unfavorable currency trends, the impact of tariffs, and a volatile global environment.

JetBlue – In what Deutsche Bank labels a “catalyst call”, it is recommending investors buy shares in the airline, saying a 15% pullback over the past three weeks provides an attractive entry point. It also notes that JetBlue has a good balance sheet and solid market position.

Hewlett Packard Enterprise – HPE reported adjusted quarterly profit of 45 cents per share, 5 cents above estimates, though the enterprise technology company did see revenue come in slightly below estimates. HPE also said the computer and storage markets are showing signs of softness in the current quarter.

Toyota Motor – Toyota said it would form a capital alliance with fellow Japanese automaker Suzuki, to help accelerate technological development. Toyota will take a 4.9% stake in Suzuki as part of the deal, while Suzuki will receive around 0.2% of Toyota’s outstanding shares.

Intel – The chipmaker and its private equity partners may list cybersecurity company McAfee this fall at a valuation of at least $8 billion, according to a Bloomberg report.

Autodesk – Autodesk reported adjusted quarterly profit of 65 cents per share, 4 cents above estimates, while the maker of computer-aided design software also saw revenue come in above Wall Street forecasts. However, the stock is under pressure after Autodesk lowered its fiscal 2020 earnings forecast and narrowed its sales outlook, pointing to trade and economic uncertainty.

Hershey – Hershey is buying nutrition bar maker ONE Brands in a deal worth about $325 million, complementing its existing Oatmega nutrition bar business. Hershey expects to complete the deal by the fourth quarter of this year.

Papa John’s – Papa John’s was upgraded to “buy” from “hold” at Stifel Nicolaus, which points to the naming of former Arby’s President Rob Lynch as its new Chief Executive Officer. Stifel also raised its price target on the pizza chain’s stock to $60 per share from $42.

Monster Beverage – The beverage maker was named a “Top Pick” at Credit Suisse, which points to upbeat trends for Monster’s Reign performance energy drink.

Chico’s FAS – The clothing retailer reported a breakeven quarter on an adjusted basis, matching estimates, but revenue and comparable store sales fell below analyst forecasts.

WATCH: An analyst breaks down Tiffany’s EPS beat, revenue miss


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