Take a look at some of the biggest moving agents in the premarket:
Kansas City Southern (KSU) – Rail operator shares rose 18.9% in premarket trading after Canadian National Railway (CNI) offered the company $ 325 per share in cash and shares, surpassing a previous offer of $ 275 per share of the Canadian Pacific (CP). The Canadian national bid also includes $ 200 per share in cash, compared to $ 90 for the Canadian Pacific bid. Canadian National was down 6.3%, while Canadian Pacific was up 4%.
AutoNation (AN) – The auto retailer earned an adjusted $ 2.79 per share in the last quarter, well above the consensus estimate of $ 1.87, while revenue also exceeded estimates. Sales at the same store increased by 27% compared to the previous year. The share increased by 2.5% in the premarket share.
IBM (IBM) – IBM reported quarterly earnings of $ 1.77 per share, exceeding consensus estimates by 14 cents per share. Revenues also exceeded forecasts. The quarterly increase in sales was the best in the last two years, helped by a strong performance of its cloud computing unit. The stock gained 3.4% in the premarket.
Procter & Gamble (PG) – The consumer goods company exceeded estimates by 7 cents per share, with a quarterly profit of $ 1.26 per share. Revenues also exceeded estimates. Among the positive factors for P&G: the continuing strength of the demand for cleaning products. P&G also announced that it will increase prices by one-half to one-percent percentages for a variety of products in September.
Passengers (TRV) – Strong underwriting results and improved return on investment helped Travelers exceed estimates by 36 cents per share, with quarterly earnings of $ 2.73 per share. The company exceeded analysts’ expectations, despite winter storms, which more than doubled the loss of casualties compared to a year ago. The travelers raised their dividend and added $ 5 billion to its share buyback program. The stock increased by 1.7% in premarket trading.
Lockheed Martin (LMT) – The defense contractor’s quarterly results exceeded Wall Street estimates, and the company increased its year-round forecast for a variety of financial indicators, including sales and cash from operations. However, revenues fell slightly below analysts’ forecasts.
Johnson & Johnson (JNJ) – Johnson & Johnson reported quarterly earnings of $ 2.59 per share, compared to a consensus estimate of $ 2.34 per share. Revenues also exceeded forecasts, helped by a recovery in medical devices as well as strong pharmaceutical sales.
United Airlines (UAL) – United lost $ 7.50 a share in the first quarter, higher than analysts’ $ 7.08 loss. The airline’s revenues fell slightly below estimates for the quarter, amid higher fuel costs and further declining demand due to the Covid-19 pandemic. United said it anticipates a return to profitability this year. Shares fell 3.3% in premarket share.
British American Tobacco (BTI), Altria (MO) – These and other tobacco stocks remain under pressure this morning, following a report in the Wall Street Journal that the White House could order tobacco companies to reduce nicotine levels in the UK. all cigarettes. British American Tobacco lost 3% in the premarket, while Altria fell 2.3%.
Tesla (TSLA) – Tesla CEO Elon Musk said the company’s checks indicate that the “Autopilot” function was not hired during a fatal crash in Texas over the weekend that killed two people. Police are still investigating, but say no one was behind the wheel when the car hit a tree. Tesla fell 1% in the premarket.
Zions Bancorp (ZION) – Zions reported quarterly earnings of $ 1.90 per share, compared to consensual estimates of $ 1.16 per share. Revenues also exceeded estimates. The bank mentioned an improved credit environment and what it called a “substantial reversal” of the loan loss provisions it had set at the heart of the pandemic.
Apple (AAPL) – Apple is set to host a virtual event today that is expected to unveil new iPads, iMacs, and “AirTags” that allow users to track the devices they want to avoid.
Xerox (XRX) – Xerox fell 2.8% in premarket trading after missing estimates by 8 cents a share, with quarterly earnings of 22 cents a share. Revenues exceeded expectations. Xerox continued to see an impact of offices closed due to the pandemic.