Market Insider

Check out the companies making headlines before the bell:

Apple — Goldman Sachs lowered its price target for Apple shares to $165 per share from $187 a share, saying that accounting for a planned Apple TV+ free trial is likely to have a material negative impact on average selling prices.

Broadcom – Broadcom reported adjusted quarterly profit of $5.16 per share, beating consensus estimates by 3 cents a share. The chip maker’s revenue came in slightly below Wall Street forecasts, however, and Broadcom gave a cautious forecast for semiconductor market demand.

Baker Hughes – Baker Hughes was indicted for allegedly exposing workers to toxic chemicals at a construction site. Two of the oilfield services company’s subsidiaries and an employee were also named in the indictment, which involves 25 felony assault charges. Baker Hughes denied the claims and said it was committed to safety for its workers.

SmileDirectClub – Shares of the maker of teeth straightening kits remain on watch, after debuting Thursday with a 28% decline. That was the worst first-day performance of any of the so-called “unicorn” initial public offerings this year.

Merck — News agency Reuters asked a U.S. judge to unseal documents regarding risks related to Merck’s Propecia baldness drug. Reuters had published a story revealing accusations that Merck did not fully disclose potential risks related to the drug.

Amazon – Amazon’s Whole Foods grocery chain will require part-time employees to work 30 hours per week to receive health benefits beginning January 1, up from the current 20 hours.

Square – The mobile payments company is testing a new feature on its popular Cash App that would enable free stock trades, according to a Bloomberg report. The report said that if the feature is successful, it could pose a challenge to more established online brokers like E*Trade and TD Ameritrade.

General Electric – GE CEO Larry Culp told an investment conference he expects asset sales to bring in about $38 billion in cash, as GE moves to pare down its debt load.

Advance Auto Parts – Citi upgraded the auto parts retailer’s stock to “buy” from “neutral,” while downgrading rival O’Reilly Automotive to “neutral” from “buy.” Citi cited sales momentum and other factors for the Advance Auto Parts upgrade, and said its O’Reilly downgrade was based on valuation.

Southwest Airlines – Macquarie upgraded the airline’s stock to “outperform” from “neutral,” saying Southwest will be able to more fully utilize its new revenue management system and more efficiently schedule its aircraft once the grounding of its Boeing 737 Max fleet ends.

Articles You May Like

3 Big Stock Charts for Friday: Electronic Arts, Centurylink and Wynn Resorts
‘The most important chart in the world’ offers a warning sign for stocks
3 Reasons Altria’s Investment in Cronos Group Stock Is Positive for CRON
The market’s trip to new highs is different this time, and it’s a bullish sign
Stocks making the biggest moves premarket: RH, Dave & Buster’s, GameStop, GE, Costco & more

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.