Market Insider

Early movers: Viacom, JPMorgan Chase, Norwegian, Hertz & more

Stocks to Watch: November 9, 2016

Check out which companies are making headlines before the bell:

Viacom —The media company reported adjusted quarterly profit of 69 cents per share, four cents above estimates, although revenue missed forecasts. Viacom said ratings at its networks are stabilizing and that movie studio Paramount is developing successful new films.

Norwegian Cruise Line — The cruise line operator beat estimates by three cents with adjusted quarterly profit of $1.62 per share, with revenue essentially in line. Revenue set a record as the company added new ships, and it issued an outlook mostly above current Street consensus.

JPMorgan Chase — Baird downgraded the bank's stock to "neutral" from "outperform", saying the bank is still a great company and should still be considered a core holding, but that the stock is near fair value.

Walgreens Boots Alliance —The drug store operator filed suit against lab testing company Theranos, alleging breach of contract. Walgreens is seeking to recover the $140 million it invested in Theranos, according to the Wall Street Journal.

GoPro — The maker of high definition cameras recalled its new "Karma" drone after some of the remote-controlled jets lost power during flight. The company said it knows of no injuries or damage caused by the problem.

Hertz — Investor Carl Icahn more than doubled his stake in Hertz, in the wake of the stock getting battered in the wake of a disappointing quarter and cutting its outlook. Icahn now holds a nearly 34 percent stake in the car rental company, compared to an earlier stake of about 15.2 percent.

Herbalife —Icahn also raised his stake in Herbalife, now holding about 24.2 percent of the nutritional products maker compared to the prior 23.1 percent.

TripAdvisor —The online travel website operator earned an adjusted 53 cents per share for its latest quarter, one cent above estimate, while revenue fell short of forecasts. Results were hurt by higher expenses and lower hotel revenue.

US Steel —The steelmaker's stock was upgraded to "buy" from "hold" at Jefferies, which said the steel industry may benefit from heightened protectionism and increased infrastructure spending in a Trump presidency.

Dish Network — The satellite TV operator fell four cents short of estimates with quarterly earnings of 64 cents per share, though revenue was very slightly above forecasts. Dish lost 116,000 paid subscribers during the quarter, fewer than expected.

Wendy's —The restaurant operator beat estimates by eight cents with quarterly profit of 18 cents per share, and revenue also beat forecasts as North American same-restaurant sales rose 1.4 percent. Wendy's also raised its full-year forecast.