Check out among the largest movers within the premarket:
Conagra Brands (CAG) – The meals producer reported quarterly revenue of 75 cents per share, 9 cents a share above estimates. Income additionally exceeded consensus and Conagra gave a current-quarter earnings forecast vary that largely exceeds estimates because the pandemic helps spur a surge in demand.
Micron Technology (MU) – Micron beat estimates by 5 cents a share, with quarterly earnings of 82 cents per share. The chip maker’s income additionally beat forecasts and Micron gave upbeat income steerage as stay-at-home employees and college students boosted demand for its laptop and knowledge middle chips.
Simon Property Group (SPG) – Simon stated it might reopen its 5 remaining closed retail properties inside the subsequent week. The mall operator additionally stated a lot of its tenants have reported larger than anticipated gross sales since reopening their doorways.
Apple (AAPL) – 5G iPhone shipments in 2020 could also be a lot weaker than anticipated, in response to sources who spoke to DigiTimes. These sources put present estimates at 15 million to 20 million models this yr in comparison with a previous forecast of 30 million to 40 million.
Xilinx (XLNX) – Xilinx raised its fiscal first-quarter income steerage, with the specialty chipmaker saying its enterprise had been helped by the loosening of restrictions on gross sales to Chinese language corporations.
Wells Fargo (WFC) – Wells Fargo stated it would cut its dividend to preserve capital, with the dimensions of the lower set to be introduced together with its second-quarter earnings report on July 14. The Federal Reserve had requested banks to not improve dividends amid uncertainty surrounding the pandemic, following financial institution stress checks. JPMorgan Chase (JPM), Citigroup (C), Bank of America (BAC), Goldman Sachs (GS), and Morgan Stanley (MS) plan to carry their dividends regular.
Boeing (BA) – Norwegian Air canceled orders for 97 Boeing 737 Max and 787 jets, and plans to hunt compensation for the grounding of the 737 and engine troubles associated to the 787.
Lululemon (LULU) – Lululemon is shopping for dwelling health firm mirror for $500 million, in a transfer designed to permit the athletic attire maker to make the most of a pandemic-related surge in-home health actions.
Uber Technologies (UBER) – Uber is in discussions to purchase meals supply service Postmates for $2.6 billion, in response to The Wall Avenue Journal. Uber had engaged in finally unsuccessful talks final month to purchase Grubhub (GRUB) and mix it with its Uber Eats meals supply unit.
Herman Miller (MLHR) – The workplace furnishings maker reported a quarterly revenue of 11 cents per share, in comparison with consensus forecasts of a lack of 10 cents per share. Income was in need of Wall Avenue forecasts, nonetheless, as gross sales fell 29% from a yr earlier amid the Covid-19 pandemic.
Crocs (CROX) – The informal shoemaker was upgraded to “purchase” from “maintain” at Loop Capital Markets, which cites model momentum. Loop additionally elevated its worth goal on the inventory to $40 from its prior $22.