Market Insider

Stocks making the biggest moves premarket: VFC, HGV, WMT, HOG & more

Wall Street set for a lower open amid Turkey crisis
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Wall Street set for a lower open amid Turkey crisis

Check out the companies making headlines before the bell:

VF Corp. – The maker of brands like North Face, Timberland, Lee, and Wrangler has announced plans to split into two separate publicly traded companies. One will keep the VF name and sell apparel and footwear, while the other will operate VF's denim and outlet businesses.

Hilton Grand Vacations – Hilton Grand Vacations said its board has terminated Chief Financial Officer James Mikolaichik for "conduct and behavior not consistent with the company's policies." The timeshare company said the behavior was not related to any issues involving its business or financial reporting.

Walmart – Walmart's Japanese supermarket unit Seiyu is drawing interest from Japan discount retailer Don Quijote holdings, which said it would be interested in buying Seiyu if Walmart puts it up for sale. The Nikkei business daily had reported last month that Walmart would sell Seiyu, but Walmart responded by saying it had not decided to sell.

Harley-Davidson – Harley is once again the target of criticism by President Donald Trump, who tweeted that many Harley owners plan to boycott the company if it goes ahead with plans to move manufacturing overseas. Harley has said EU tariffs imposed by the US would cost the company up to $45 million for the remainder of this year and up to $100 million next year. The motorcycle maker did not respond to requests for comment on the President's latest tweets.

Tesla – The company and CEO Elon Musk have been sued by investors who claim that the company and Musk fraudulently schemed to squeeze short sellers. The accusations center on Musk's tweets last week about taking the company private and saying funding had "been secured." Separately, Reuters is reporting that Saudi Arabia's Public Investment Fund has shown no interest in financing a privatization of the automaker.

Cheniere Energy – The Houston-based energy producer has signed a 25-year supply agreement with Taiwan state-owned oil and gas company CPC, beginning in 2021. The deal is valued at about $25 billion.

Papa John's – Papa John's is offering financial help for its U.S. franchise holders for the remainder of the year. Papa John's sales have been hit amid controversial remarks made by founder John Schnatter. The company will reduce royalty payments, food prices and other costs.

JPMorgan Chase – JPMorgan is partnering with Expedia to provide its credit card users with more flight and hotel options, according to a source. The new deal with the operator of the Expedia, Travelocity, Orbitz, and Hotwire websites began over the weekend.

Walt Disney — Regional sports networks now owned by 21 are drawing interest from multiple potential buyers, according to Bloomberg. They include Alphabet's YouTube unit, Sinclair, Amazon, Apollo Global, Blackstone, and others. Walt Disney is acquiring the sports networks along with other assets in a recently finalized deal, but had to agree to sell them to win regulatory approval.

Dollar Tree – Dollar Tree was upgraded to "overweight" from "neutral" at Atlantic Equities, which cites an "inflection in sentiment" regarding the discount retailer. The firm also feels the market is not fully appreciating Dollar Tree's moves to shore up its Family Dollar operation.

Nielsen Holdings — Elliott Management now has a more than 8 percent stake in Nielsen, according to The Wall Street Journal, and plans to push the TV-ratings firm to sell itself.

Blue Apron – Blue Apron competitor HelloFresh said it no longer expected to break even during its fourth quarter. The meal kit company said it would increase growth-supporting investments and now expects to break even on an adjusted basis sometime during 2019.