Market Insider

Stocks making the biggest moves premarket: Boeing, Caterpillar, AT&T, UPS, Anthem, Snap & more

Wall Street set to open in the red

Check out the companies making headlines before the bell:

Boeing – Boeing lost an adjusted $5.82 per share for the second quarter, as it deals with issues related to the 737 Max grounding. The commercial aviation unit lost nearly $5 billion in the second quarter, but the defense and services units posted profits.

AT&T – AT&T matched Wall Street forecasts with adjusted quarterly profit of 89 cents per share, with revenue beating estimates. Growth in AT&T's wireless and media businesses helped make up for a loss of nearly one million pay-TV customers.

Caterpillar – The heavy equipment maker earned $2.83 per share from the second quarter, compared to a consensus estimate of $3.12 a share. Revenue, however, was essentially in line with Street forecasts.

UPS – UPS reported adjusted quarterly profit of $1.96 per share, four cents above estimates, with revenue above forecasts as well. Separately, UPS said it would offer 7-day delivery beginning in 2020. That follows a similar move by rival FedEx, which had announced a 2020 launch of 7-day service in May.

Anthem – The health insurer came in 3 cents a share ahead of forecasts, with adjusted quarterly profit of $4.64 per share. Revenue also beat estimates and Anthem increased its full-year guidance as it raises the lower end of is projected membership growth.

Hilton Worldwide – The hotel operated earned adjusted $1.06 per share for its latest quarter, 4 cents a share above estimates. Revenue also beat forecasts on steady travel demand in the U.S. Hilton raised its full-year earnings forecast, but also lowered the high end of its revenue per available room forecast range amid concerns about a slowing global economy.

VF Corp. – The apparel maker beat estimates by a penny a share, earnings an adjusted 30 cents per share for the quarter. Revenue also exceeded forecasts and the company raised its full-year outlook, on upbeat growth for its Vans sneakers and North Face clothing.

Snap – Snap lost 6 cents per share for its latest quarter, 4 cents a share less than analysts had anticipated. Revenue also topped forecasts, helped by its strongest user growth since it became a public company.

Texas Instruments – Texas Instruments beat consensus forecasts by 7 cents a share, with adjusted quarterly profit of $1.29 per share. The chipmaker's revenue came in above estimates as well. The stock is getting a boost from the results, especially in light of the company's previous warning about a slowdown in demand that may last for a few more quarters.

Visa – Visa reported adjusted quarterly profit of $1.37 per share, 5 cents a share above estimates. Revenue also beat consensus, helped by an overall boost in spending using Visa cards and highlighted by a nearly 9% jump in U.S. payment volume.

Chipotle Mexican Grill – Chipotle earned an adjusted $3.99 per share for its latest quarter, beating the consensus estimate of $3.76. The restaurant chain's revenue was also above estimates, and investors are especially encouraged by a much-stronger-than-expected jump in same-restaurant sales.

iRobot – iRobot shares are under pressure after the Roomba robot vacuum cleaner maker said tariffs resulting from the trade dispute between the U.S. and China will weigh on company results throughout this year. iRobot cut its full-year earnings guidance to a range of $2.40-$3.15 per share from the prior $3.15-$3.40 per share.

Facebook, Amazon, Alphabet – These and other tech companies are on watch today, following an announcement by the Justice Department that it is opening a broad antitrust review of big tech firms.

T-Mobile, Sprint — The proposed merger of T-Mobile and Sprint will be the subject of a leadership meeting today by Germany's Deutsche Telekom, which owns 63 percent of T-Mobile. Separately, Bloomberg reports that Dish Network has agreed to pay $5 billion for wireless assets that T-Mobile and Sprint will sell to gain approval for the deal.

Campbell Soup – Campbell is selling its Australian snacks unit Arnott's to private equity firm KKR for a reported $2.2 billion.

Starbucks — Starbucks is expanding its partnership with Uber's Uber Eats service to deliver coffee and food throughout the U.S. beginning in early 2020.

General Electric – GE has hired advisers to explore a sale of its aircraft financing unit, according to Bloomberg, which also reports that Starwood and Apollo Management have put in bids. GE CEO Larry Culp had said in January that he didn't plan to sell the unit, which could fetch around $4 billion.

Correction: An earlier version gave an incorrect percentage for Chipotle's stronger-than-expected jump in same-restaurant sales.