Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more
Check out the companies making headlines before the bell:
Netflix – Netflix shares are under pressure, after its membership growth numbers came in well below analysts' forecasts. The video streaming service reported quarterly profit of 85 cents a share, beating the consensus estimate of 79 cents a share. Revenue was below Street forecasts.
UnitedHealth – The health insurer reported adjusted quarterly profit of $3.14 per share, beating estimates by 10 cents a share. Revenue was essentially in line with expectations. UnitedHealth also raised its full-year forecast, as it experiences growth across all its businesses.
Goldman Sachs – The investment bank reported profit of $5.98 per share, well above the consensus estimate of $4.66 a share. Revenue also topped forecasts, and Goldman said its first-half returns were its strongest in nine years. Goldman also announced that Chief Executive Officer Lloyd Blankfein will step down on September 30, to be succeeded by President and Chief Operating Office David Solomon.
Johnson & Johnson – Johnson & Johnson earned an adjusted $2.10 per share for the second quarter, 3 cents a share above estimates. Revenue also came in above forecasts on improved sales of J&J’s cancer drugs.
Comerica – The regional bank reported profit of $1.87 per share for the second quarter, beating the consensus estimate of $1.64 a share. Revenue was also above Street forecasts, helped by loan growth and higher fee income.
Amazon.com – Amazon suffered through website glitches Monday as its annual Prime Day got underway. Amazon said many of the glitches had been solved as the day progressed, with the promotion set to continue until 3 a.m. ET Wednesday morning.
Walmart – Walmart struck a five-year agreement with Microsoft for expanded use of Microsoft’s cloud and artificial intelligence technology. The retailer said the goal is to make shopping faster and easier for its customers.
IBM – IBM is accusing daily deals provider Groupon of using its patented technology without permission, and is asking a jury to award it $167 million. Groupon is accused of breaching e-commerce technology that IBM has licensed to companies, but the company said IBM is overestimating the reach of its patents.
Plains All American – Plains was rejected in its bid for an exclusion to the Trump administration’s tariff on imported steel. The pipeline operator’s request was denied after the Commerce Department said suitable product was available from domestic producers.
KKR – The private-equity firm is buying digital audiobook producer RBmedia for an undisclosed amount, noting that spending on audiobooks will be up about 20 percent this year to $900 million.
International Game Technology – The slot machine maker’s sports betting platform will be used by FanDuel, initially being rolled out at the Meadowlands Racetrack in East Rutherford, NJ.
Redfin — The residential real estate brokerage announced a 3.5 million secondary common stock offering, as well as a $125 million convertible note offering.