Market Insider

Stocks making the biggest moves premarket: CarMax, BlackBerry, Winnebago, Apple & more

VIDEO0:4700:47
Futures point to further Wall Street gains

Check out the companies making headlines before the bell:

BlackBerry (BB) – The provider of security software and services earned 3 cents per share for the third quarter, a penny a share above estimates. Revenue also came in above Wall Street forecasts. The company said it saw sequential revenue growth across all of its software businesses.

CarMax (KMX) – The auto retailer earned $1.04 per share for its third quarter, falling short of the $1.16 a share consensus estimate. Revenue was above forecasts, however, and comparable-dealer sales were up 7.5% compared to the consensus 6.2% estimate of analysts surveyed by Refinitiv. CarMax noted an increase in advertising expenses during the quarter.

Winnebago (WGO) – The recreational vehicle maker beat estimates by 15 cents a share, with quarterly profit of 73 cents per share. Revenue also came in well above forecasts, boosted by strong sales in both the motor home and towables segments.

Apple (AAPL) – Piper Jaffray raised its price target on the stock to $305 per share from $290 a share, pointing in part to high early interest in a potential 5G iPhone.

Nike (NKE) – Nike reported quarterly earnings of 70 cents per share, 12 cents above estimates. The athletic footwear and apparel maker's revenue came in above Wall Street forecasts as well. Nike shares have come under pressure despite the beat, after rising in 11 of the past 12 days and closing at a record high Thursday.

Biogen (BIIB) – Biogen announced a $5 billion stock buyback program. The drug company said the new buyback is in addition to a $5 billion program previously authorized in March.

Facebook (FB) – Facebook experienced a data breach that exposed personal data from more than 267 million users, according to cybersecurity experts. Facebook said it is investigating, but added that it appears the exposed data was from a period of time before new security improvements implemented over the past few years.

Royal Dutch Shell (RDSA) – The energy producer expects to take an impairment charge of up to $2.3 billion during the fourth quarter, based on the macroeconomic outlook. It also cut its forecast for quarterly oil production.

Scholastic Corp. (SCHL) – Scholastic reported adjusted quarterly profit of $2.06 per share, beating the consensus estimate of $1.77a share. The children's book publisher's revenue also beat forecasts, helped by growth in the company's book fairs business.

Michaels Cos. (MIK) – Michaels was downgraded to "underweight" from "equal-weight" at Morgan Stanley, which said the arts and crafts retailer faces challenges to revenue growth and profit margins. It also cut its price target on the stock to $5 per share from $7 a share.

Citigroup (C), JPMorgan Chase (JPM) – Wells Fargo Securities analyst Mike Mayo raised his price target on Citi to $97 per share from $85 a share, citing increasing earnings and the ongoing presence of activist investor ValueAct. Mayo also raised his price target on JPMorgan to $150 a share from $125 per share, after raising earnings estimates for the bank based on an improving credit environment.