Stocks making the biggest moves in the premarket: Uber, Canada Goose, Hanesbrands & more


Canada Goose (GOOS) – The outerwear maker reported better-than-expected profit and revenue for its fiscal third quarter, but also said the coronavirus outbreak is having a “material negative impact” during the current quarter. The company did add that no supply chain interruptions have occurred as a result of the virus.

Hanesbrands (HBI) – The underwear and activewear company reported quarterly profit of 51 cents per share, matching forecasts. Revenue came in above estimates, however the company gave a lower-than-expected outlook for the current quarter and the full year

Spirit AeroSystems (SPR) – The aerospace components supplier cut its quarterly dividend to 1 cent from 12 cents due to the disruptions caused by the grounding of Boeing’s 737 Max jet. Spirit said the move was in the best interests of the company and its shareholders, and it will consider further action regarding the dividend depending on when the Max returns to service.

Uber Technologies (UBER) – Uber lost 64 cents per share for its latest quarter, 4 cents a share less than Wall Street was anticipating. The ride-hailing service’s revenue was slightly above analysts’ forecasts. Uber expects to lose more than $1 billion this year, but the company said it is on target to be profitable on an adjusted basis by the fourth quarter of this year. It had previously targeted that goal by the end of 2021.

T-Mobile US (TMUS) – T-Mobile beat estimates by 4 cents a share, with quarterly earnings of 87 cents per share. The mobile service provider’s revenue also came in above estimates as it added more monthly phone subscribers.

Pinterest (PINS) – Pinterest reported quarterly earnings of 12 cents per share, 4 cents a share above estimates. The image and interest sharing platform also reported better-than-expected revenue, and Pinterest beat Street forecasts for average revenue per user and gave an upbeat 2020 outlook.

Activision Blizzard (ATVI) – Activision came in 4 cents a share above estimates, with quarterly profit of $1.23 per share. The company reported better-than-expected revenue as well, boosted by a successful quarter for the company’s “Call of Duty: Modern Warfare” game.

Myriad Genetics (MYGN) – Myriad fell 8 cents a share short of estimates, with adjusted quarterly earnings of 23 cents per share. The molecular diagnostics company’s revenue also missed forecasts. Myriad said the shortfall was primarily due to results in its prenatal business. Separately, the company announced that CEO Mark Capone will step down, to be replaced on an interim basis by CFO Bryan Riggsbee.

Verizon (VZ) – Verizon announced a new $100 million share buyback plan, replacing a program that was due to expire February 29. (AMZN) – Amazon CEO Jeff Bezos sold another $666 million in Amazon shares, bringing his total share sales to nearly $3.5 billion over the past week. The transactions were part of a pre-arranged sales plan.

Credit Suisse (CS) – CEO Tidjane Thiam resigned, to be replaced by the bank’s Swiss business chief Thomas Gottstein. His departure comes as Swiss regulators investigate a spying scandal in which the bank was accused of tailing a former wealth manager after he switched to rival UBS (UBS).

ViacomCBS (VIACA) – ViacomCBS is set to unveil a new streaming service that will build on its current CBS All Access service, according to multiple reports.

Aurora Cannabis (ACB) – Aurora Cannabis announced the retirement of CEO Terry Booth, with Executive Chairman Michael Singer taking over as interim CEO. The Canada-based cannabis producer also said it would cut about 500 jobs and take a nearly $753 charge against earnings.

Johnson & Johnson (JNJ) – J&J was ordered to pay $750 million in punitive damages to four people in a New Jersey case. The plaintiffs claimed J&J’s talcum powders caused a rare form of cancer. Johnson & Johnson plans to appeal.

Norton LifeLock (NLOK) – Norton LifeLock reported better-than-expected earnings and revenue for its fiscal third quarter. The cybersecurity company also issued an upbeat current-quarter earnings outlook.

EBay (EBAY) – EBay shares are under pressure after New York Stock Exchange owner Intercontinental Exchange (ICE) said it was no longer interested in exploring deal options with the e-commerce platform.

Workday (WDAY) – The maker of human resources software was added to the “Conviction” list at Goldman Sachs, which notes recent underperformance by the stock and the prospects for an acceleration of subscription growth revenue.

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