Market Insider

Stocks making the biggest moves premarket: Verizon, Cigna, Clorox, Dunkin', Yum, Wayfair & more

Markets set to open higher after the Fed dampened hope for more cuts

Check out the companies making headlines before the bell:

Verizon – Verizon reported adjusted quarterly profit of $1.23 per share, 3 cents a share above estimates. Revenue came in below Wall Street forecasts, however. Verizon added a net 245,000 phone subscribers during the quarter, above the 163,000 that analysts surveyed by FactSet had been forecasting.

Cigna – The insurer earned an adjusted $4.30 per share for the second quarter, beating the consensus estimate of $3.74 a share. Revenue also exceeded forecasts, with overall results getting a boost from strength in Cigna's health-services unit.

Clorox – The household products maker beat estimates by 5 cents a share, with quarterly profit of $1.88 per share. Revenue missed forecasts, however, and Clorox gave a weaker-than-expected fiscal 2020 forecast on weakness in its household segment as well as unfavorable exchange rates in certain markets.

Dunkin' Brands – The restaurant chain came in 4 cents a share above estimates, with second-quarter profit of 86 cents per share. Revenue was short of forecasts, however. Comparable sales at U.S. Dunkin' locations rose 1.7%, better than expected, but comparable sales at U.S. Baskin-Robbins locations were short of forecasts.

DuPont – DuPont, one of the companies that emerged from the breakup of DowDupont, reported adjusted quarterly profit of 97 cents per share, 13 cents a share above estimates. The specialty materials maker saw revenue fall short of forecasts, however, and said it expects organic sales to fall slightly this year.

Wayfair – The luxury home goods retailer lost $1.35 per share for its latest quarter, matching Street forecasts. Revenue beat estimates, but the bottom line was impacted by a more than 50% increase in operating expenses.

Yum Brands – The restaurant chain beat consensus by 6 cents a share, with adjusted quarterly profit of 93 cents per share. Revenue beat estimates as well. Comparable-restaurant sales rose 5%, beating the forecast of 3.1% by analysts surveyed by Refinitv.

Qualcomm – Qualcomm reported adjusted quarterly profit of 80 cents per share, 5 cents a share above Street forecasts. The chipmaker's revenue came in below estimates and the company gave a current-quarter earnings forecast that falls largely below consensus, as it strips out business from China's Huawei Technologies.

Fitbit – Fitbit lost 14 cents per share for its latest quarter, 4 cents a share less than Wall Street had projected. The fitness-device maker saw revenue beat estimates, however Fitbit cut its full-year sales forecast on disappointing sales of its new Versa Lite smartwatch.

Thomson Reuters – Thomson Reuters raised its sales and profit outlook for 2019 and 2020 after reporting a 4% increase in organic revenue for the second quarter, its biggest rise since 2008. Separately, Thomson Reuters and co-owner Blackstone finalized a deal to sell their Refinitiv data business to London Stock Exchange for $27 billion in stock.

Las Vegas Sands, Wynn Resorts – The casino operators are on watch after new numbers showed gaming revenue in Macau dropped 3.5% from a year earlier, slightly below analysts' forecasts. – Amazon is in early-stage talks to buy a 26% stake in India's Reliance Industries, according to the Economic Times. Reliance is India's largest brick and mortar retailer.

Beyond Meat – Beyond Meat priced a secondary offering of 3.25 million new shares at $160 per share, 18.6% below Wednesday's closing price for the plant-based burger maker's stock.

BlackRock – The asset management firm is no longer in talks to buy private-equity firm Pamplona's stake in cybersecurity firm Cofense, according to The Wall Street Journal. BlackRock already holds a stake in Cofense, and the potential deal was designed to address national security concerns expressed by government officials about Pamplona and its links with wealthy Russians, according to the paper.