Stocks making the biggest moves in the premarket: Disney, Comcast, Slack, Gap, Apple & more
Take a look at some of the biggest movers in the premarket:
Walt Disney (DIS) – Walt Disney announced it will close Disneyland and other theme parks in Southern California through the end of the month, in response to the coronavirus outbreak. NBCUniversal and CNBC parent Comcast (CMCSA) is taking similar action, closing its Universal Studios theme park in Southern California with plans to reopen March 28.
Slack Technologies (WORK) – Slack lost 4 cents per share for its latest quarter, 1 cent a share less than analysts were expecting. The workplace messaging platform provider's revenue came in above estimates, however Slack forecast lower-than-expected billings for this year and reported a surge in expenses during the most recent quarter.
Gap (GPS) – Gap reported quarterly earnings of 58 cent per share, 17 cents a share above estimates. The clothing chain's revenue also came in above Wall Street forecasts, and Gap forecast better-than-expected 2020 profit. The company warned, however, that it expects a $100 million revenue hit this quarter due to the coronavirus outbreak.
United Airlines (UAL) – United said it would keep its regular schedule for flights to the U.S. from Europe through March 19, but will cut back its schedule after that date. That follows news of the 30-day ban on flights announced by President Donald Trump on Wednesday.
Apple (AAPL) – Apple reopened its 42 branded stores in China, after shutting them down in early February due to the coronavirus outbreak.
Broadcom (AVGO) – Broadcom withdrew its 2020 revenue forecast, the latest chipmaker to do so following coronavirus-related supply disruptions.
Oracle (ORCL) – Oracle beat estimates by a penny a share, with quarterly profit of 97 cents per share. The business software company's revenue was slightly above analysts' forecasts, boosted by growth in Oracle's cloud business.
Ulta Beauty (ULTA) – Ulta reported quarterly profit of $3.89 per share, 16 cents a share above estimates. Comparable sales were also above estimates, although the cosmetics retailer's revenue was slightly below consensus and its full-year outlook was also below estimates.
DocuSign (DOCU) – DocuSign earned 12 cents per share for its fourth quarter, well above the consensus estimate of 5 cents a share. The electronic signature technology provider's revenue also beat forecasts and the company gave better-than-expected forward guidance.
The Buckle (BKE) – The accessories retailer reported quarterly earnings of 96 cents per share, 9 cents a share above estimates. Revenue was essentially in line with expectations. Comparable-store sales were up 3.3%, above the Refinitiv consensus estimate of a 2.5% rise.