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Stocks to Watch: October 17, 2016

Check out which companies are making headlines before the bell:

Bank of America — Bank of America earned 41 cents per share for its latest quarter, beating estimates by seven cents, with revenue also beating forecasts. Strong trading results helped make up for weakness in some of the bank's consumer businesses.

Hasbro — The toymaker reported quarterly profit of $2.03 per share, easily beating estimates of $1.74, with revenue also topping analyst estimates. Hasbro did especially well in its partnered offerings, such as the Disney Princess and "Frozen" product lines.

Supervalu — The supermarket operator is selling its Save-A-Lot business to an affiliate of Canadian private equity firm Onex Corporation for nearly $1.37 billion.

Tesla — German officials are asking the automaker to stop including the Autopilot function in its ads. The country's transport minister is concerned that drivers might feel their attention is not needed while behind the wheel of the vehicle. Separately, a product announcement scheduled for today has been pushed back to Wednesday, with CEO Elon Musk tweeting that the unnamed new product needed a few more days of refinement.

Deutsche Bank — Deutsche Bank is considering changes to its U.S. strategy, according to Reuters. The bank is not likely to abandon the U.S. market, but it may considering scaling down its activities here. Deutsche Bank is currently fighting a proposed $14 billion Justice Department fine over financial crisis era mortgage bond sales.

McDonald's — The restaurant chain is losing a number of senior executives, including chief field officer Karen King and senior vice president Erik Hess. That comes on the heels of other departures, including soon-to-retire McDonald's USA President Mike Andres, chief administrative officer Pete Bensen, and high-growth markets division chief David Hoffmann.

Mentor Graphics — Mentor has hired Bank of America to explore strategic alternatives including a potential sale, according to Reuters. Activist hedge fund Elliott Management has an 8.1 percent stake in the software maker and feels Mentor's shares are significantly undervalued.

Constellation Brands — The spirits maker is near a deal to sell its Canadian wine business to the Ontario Teachers' Pension Plan for about $760 million, according to a Wall Street Journal report.

Walgreens Boots Alliance — Walgreens has been upgraded to "buy" from "hold" at Jefferies, which has also increased its price target for the drug store operator's stock to $95 per share from $87. Jefferies feels investors are underestimating both the fundamental positives as well as the incremental benefits that will be provided by its acquisition of Rite-Aid.

Wells Fargo — Wells Fargo was downgraded to "market perform" from "outperform" at Keefe Bruyette & Woods, which cut its price target to $48 from $57. Keefe Bruyette does not feel the price is low enough to reflect the uncertainty surrounding the change in the bank's sales practices.

Dunkin' Brands — RBC downgraded Dunkin' to "sector perform" from "outperform," saying the stock's price already reflects the donut chain's acceleration in sales, the introduction of new beverages, and the launch of its "On-The-Go" mobile ordering platform.

Groupon — Wedbush upgraded Groupon to "outperform" from "neutral," as the site sees increased customer traffic and expands its deal inventory.

Whirlpool — MKM downgraded the appliance maker to "neutral" from "buy," based primarily on a rise in steel prices.