Top Stories
Top Stories
Market Insider

Early movers: NKE, WFC, DB, T, TPX, & more

Stocks to Watch: September 28, 2016

Check out which companies are making headlines before the bell:

Nike — The athletic footwear and apparel retailer reported quarterly profit of 73 cents per share, 17 cents a share above estimates. Revenue also beat forecasts, but the shares are under pressure as Nike reports future orders up a less-than-expected seven percent.

Wells Fargo — Chief Executive Officer John Stumpf will forfeit $41 million in equity awards following the recent sales scandal, while former community banking head Carrie Tolstedt will give up $19 million in equity awards.

BlackBerry — BlackBerry reported a breakeven quarter, surprising analysts who had expected a five cents per share loss. Revenue was well below forecasts, however, and the maker of mobile phone software also announced the departure of its chief financial officer, James Yersh.

Deutsche Bank — CEO John Cryan told a German newspaper that the bank did not need any government assistance or a capital increase. The shares have been under pressure on worries that an anticipated multibillion-dollar fine from the U.S. Justice Department could damage the bank's finances.

AT&T — UBS downgraded the stock to "neutral" from "buy," pointing to lower earnings growth and increasing competition in the wireless business.

Tempur Sealy — Tempur Sealy cut its 2016 outlook, with the mattress company saying sales for the current quarter are coming in below expectations.

Macy's — The retailer's shares were downgraded to "neutral" from "outperform" at Credit Suisse, saying Macy's is now in an "execution phase" of a strategic shift and that investors are likely to wait to see results.

Twitter — Mizuho downgraded Twitter to "underperform" from "neutral" on a valuation basis, saying it was skeptical about most of the takeover rumors circulating through Wall Street.

Alphabet — Wedbush downgraded the Google parent's stock to "underperform" from "neutral," on a variety of concerns about future monetization of online search.

Cintas — Cintas earned an adjusted $1.26 per share for its latest quarter, 17 cents a share above estimates. The uniform maker's revenue was slightly above forecasts. The company also raised its full-year forecast, as sales improved for both its uniform rental business and its facility services unit.

Sonic — The fast food chain projected current-quarter earnings below current Wall Street consensus, citing slower customer traffic and lower spending at its restaurants.

Coty — Coty will replace Diamond Offshore in the S&P 500, which is moving to the S&P MidCap 400. Coty, a maker of beauty and fragrance products, is in the process of buying a chunk of Procter & Gamble's beauty business, and its stock will join the S&P 500 after the close of trading on Friday.

ABInBev — The beer brewer's shareholders have approved its $100 billion takeover of rival SABMiller, and SABMiller shares have done the same in separate votes today.

SAP — SAP will invest $2.2 billion in "Internet of Things"-related investments through the end of 2020. Europe's biggest software maker wants to take advantage of an estimated $280 billion market.

Royal Bank of Scotland — RBS will pay $1.1 billion to resolve U.S. claims involving mortgage-backed securities that it sold to credit unions ahead of the 2008 financial crisis.

Harmonic — Harmonic struck a warrant agreement with NBCUniversal and CNBC parent Comcast, under which Comcast will buy shares in the provider of video infrastructure technology.

By CNBC's Peter Schacknow

Questions? Comments? Email us at