blog

Stocks making the biggest moves in the premarket: Herbalife, GitLab, Textron and more

Markets set to open slightly higher
VIDEO0:5500:55
Markets set to open slightly higher
Morning Report

Take a look at some of the biggest movers in the premarket:

Herbalife Nutrition (HLF) – Herbalife tumbled 9.8% in premarket trading after the nutrition and health products company announced a $250 million convertible note offering. Herbalife plans to use the proceeds to repurchase existing debt and for general corporate purposes.

related investing news

Oppenheimer upgrades General Electric, says the industrial giant's outlook is improving
CNBC Pro
Oppenheimer upgrades General Electric, says the industrial giant's outlook is improving

GitLab (GTLB) – GitLab shares surged 18.7% in the premarket following better-than-expected quarterly results for the maker of development operations software, with a smaller loss than analysts had anticipated and sales that exceeded consensus estimates. GitLab also issued an upbeat outlook.

Textron (TXT) – Textron rallied 9.6% in the premarket after the company's Bell unit won a U.S. Army contract to provide next-generation helicopters. The contract could potentially be worth about $70 billion over a period spanning decades.

AutoZone (AZO) – AutoZone beat top and bottom line consensus for its latest quarter, with the auto parts retailer also reporting a larger-than-expected rise in comparable-store sales. AutoZone has been benefiting from consumers investing in their existing cars amid still-high vehicle prices.

Signet Jewelers (SIG) – The jewelry retailer reported quarterly profit of 74 cents per share, well above the 31 cents a share consensus estimate. Revenue beat consensus estimates as well. Signet's same-store sales decline of 7.6% was in line with analysts' estimates. The stock surged 8.1% in premarket action.

JPMorgan Chase (JPM) – The bank's stock rose 1.5% in the premarket after Morgan Stanley double-upgraded it to "overweight" from "underweight," pointing to a variety of factors including growing market share for the company's Consumer & Community Bank and improved operating leverage.

Royal Caribbean (RCL) – Royal Caribbean lost 2.1% in premarket action after a double-downgrade to "underweight" from "overweight" at J.P. Morgan Securities. The analyst report is generally upbeat on the outlook for cruise stocks but notes that Royal Caribbean is particularly vulnerable to a less favorable market for raising capital given the timing of its future financial commitments.

Axon Enterprise (AXON) – Axon fell 2.7% in premarket action after the Taser maker announced a $500 million convertible notes offering.

General Electric (GE) – General Electric was upgraded to "outperform" from "perform" at Oppenheimer, which also set a price target of $104 per share. The report is upbeat on GE's aviation and power operations, among other factors. GE shares rose 1.4% in the premarket.

Source: https://www.cnbc.com/2022/12/06/stocks-making-the-biggest-moves-in-the-premarket-herbalife-gitlab-textron-and-more.html


Related Posts