Market Insider

Stocks making the biggest moves premarket: HON, PFE, WMT, AIG, MSFT & more

A trader works on the floor of the New York Stock Exchange (NYSE) in New York.
Michael Nagle | Bloomberg | Getty Images

Check out which companies are making headlines before the bell:

Honeywell – Honeywell announced a planned spin-off of its Homes Products and Transportation Systems Businesses into two separate publicly traded companies. It expects those moves to be completed by the end of 2018.

Pfizer – The drugmaker said it would consider strategic alternatives for its consumer health-care business, which has $3.4 billion in annual sales. Pfizer said it may sell or spin off the division, or decide to retain it.

Wal-Mart – The retail giant announced a $20 billion share buyback program, as well as a financial outlook that is roughly in line with Street estimates. The company also projected a three percent or better increase in fiscal 2019 sales. The announcement comes ahead of the company's meeting with analysts in Arkansas.

AIG — The insurer predicted third-quarter catastrophe losses of about $3 billion. Most of that amount stems from damage caused by Hurricanes Harvey and Irma, as well as the earthquakes in Mexico.

Microsoft – Microsoft is the latest company to investigate whether Russians bought U.S. election-related ads on various Microsoft platforms, including its Bing search engine.

Ferrari – CEO Sergio Marchionne told Italy's Repubblica that the automaker will have a new SUV ready in 30 months, adding that it will be something "totally different that only resembles an SUV."

Jabil Circuit – Jabil Circuit was downgraded to "sell" from "neutral" at Goldman Sachs, which also set a price target on the contract electronics manufacturers stock of $26 per share compared to yesterday's close of $29.48. Goldman feels Street expectations for the semiconductor universe are overly optimistic and cautioning that Jabil's earnings have been among the most volatile.

General Electric – GE is on watch again today, after the Dow component fell nearly four percent yesterday following the appointment of a new chief financial officer and the addition of Trian's Ed Garden to its board of directors.

Activision Blizzard, Electronic Arts – These and other video game stocks could be pressured today following a Wall Street Journal "Heard On The Street" column that said recent success could set a high bar for the holiday shopping season. It added that gamers are playing fewer titles for longer times, making it harder for new games to break out.

Tiffany, Coach, Michael Kors – These and other luxury goods stocks could benefit from better-than-expected sales reported by LVMH, the world's biggest luxury goods company.

Blue Apron – The meal kit provider will be on watch after Germany-based competitor HelloFresh announced plans for an initial public offering in Europe that could value it at up to $1.8 billion. HelloFresh's biggest market is in the U.S., where it has been spending heavily on advertising and promotion.

Eli Lilly – The drugmaker's shares were downgraded to "neutral " from "outperform" at Credit Suisse, which said it sees limited drivers to push Lilly stock higher following a 13 percent jump since August.