Market Insider

Stocks making the biggest moves premarket: BA, NFLX, AOBC, KO & more

Ted Cruz
Brendan McDermid | Reuters

Check out which companies are making headlines before the bell:

General Motors, Boeing — Shares of GM and Boeing fell more than 1 percent in the premarket after President Donald Trump's top economic advisor Gary Cohn resigned amid a steel and aluminum tariffs debate. GM and Boeing heavily use metals, so tariffs on steel and aluminum could adversely impact their businesses.

Netflix — Analysts at Stifel downgraded the streaming giant's stock to "hold" from "buy," citing its recent appreciation in value. "We are attracted to Netflix's business and competitive position but believe share price may have sprinted ahead of fundamentals in the short-term," the analysts said.

American Outdoor Brands, BlackRock — American Outdoor Brands, known for manufacturing Smith & Wesson guns, defended their safety efforts in a letter to asset manager BlackRock, its largest shareholder. "The solution is not to take a politically motivated action that has an adverse impact on our company, our employees, our industry, … but results in no increase in public safety," the letter said.

Ross Stores — The off-price retailer reported quarterly earnings and revenue that beat analysts' expectations. Same-store sales, a key metric for retailers, rose 5 percent in the previous quarter, surpassing an expected gain of 3.1 percent.

H&R Block — Shares of H&R Block rose nearly 5 percent in low-volume premarket trading after the company reported a smaller-than-expected loss for the previous quarter. H&R Block lost $1.16 per share last quarter. Analysts polled by Reuters expected a loss of $1.29 a share. The company said in a release it had a "strong tax season."

Autodesk — The design software maker posted a smaller-than-expected quarterly loss, sending its stock surging by 10 percent in the premarket. The company's subscription revenue more than doubled in the previous quarter, totaling $293.7 million.

CVS — The pharmacy chain sold $40 billion in bonds Tuesday to help finance its acquisition of Aetna, a health insurer. CVS agreed to buy Aetna last year for $69 billion.

Amazon — Amazon Prime head Greg Greeley is leaving the e-commerce giant to run Airbnb Homes, one of the company's four business units.

Coca-Cola — Coca-Cola is planning to launch its first alcoholic drink ever in Japan. Multiple reports say the soft drinks company is eyeing Japan's market for "Chu-Hi."