Stocks making the biggest move premarket: DE, AMZN, GS, BJ, GPS & more
Check out the companies making headlines before the bell:
Deere – The heavy equipment maker earned an adjusted $2.30 per share for its fiscal fourth quarter, 15 cents a share shy of estimates. Revenue also came in short of Street forecasts. Deere said sales improved from a year ago, thanks to strength in the farm and construction markets.
Amazon.com – The online retail giant is seeking to persuade brick-and-mortar retailers to accept its Amazon Pay service, according to The Wall Street Journal. The paper said Amazon is beginning that effort with gas stations, restaurants, and other merchants that don't compete directly with Amazon.
Goldman Sachs – The investment bank's stock was downgraded to "equal-weight" from "overweight" at Morgan Stanley, which also cut its price target on the stock to $226 from $291. Morgan Stanley cited the risks to Goldman stemming from the 1MDB investigation.
BJ's Wholesale Club – BJ's beat estimates by 5 cents a share, with quarterly profit of 39 cents per share. The warehouse retailer's revenue also came in above forecasts and BJ's gave upbeat guidance for the current quarter.
Gap – Gap reported quarterly earnings of 69 cents per share, beating consensus by a penny a share. The apparel retailer's revenue was also slightly above estimates, however comparable-store sales were flat, with results hurt by slow results at the namesake Gap brand stores.
Foot Locker – Foot Locker came in 3 cents a share ahead of estimates, with adjusted quarterly profit of 95 cents per share. Revenue edged past Street expectations, helped by improved sales in shoes and women's apparel.
Autodesk – Autodesk reported quarterly profit of 29 cents per share, 2 cents a share above estimates. The design software maker's revenue also came in above Street forecasts. Autodesk gave upbeat guidance for the current quarter, and announced the acquisition of construction software maker Plangrid for $875 million.
Mylan – Mylan received a Food and Drug Administration warning letter earlier this month detailing concerns over conditions at its manufacturing facility in West Virginia. The drugmaker said it is addressing the issues raised in that letter, which include "inadequate" cleaning for manufacturing equipment.
Facebook — CEO Mark Zuckerberg told CNN that he had no plans to step down from the chairman's role despite calls to do so, and that he hopes to work with Chief Operating Officer Sheryl Sandberg "for decades to come."
Walgreens, Humana – Walgreens and Humana are in preliminary talks to take stakes in each other, according to The Wall Street Journal. The drugstore chain and the health insurer already have a partnership related to serving senior citizen, and the paper said that the talks also include the idea of expanding that venture.
Barnes & Noble – Barnes & Noble lost 38 cents per share for its second quarter, 3 cents a share smaller than analysts had anticipated. The bookstore chain's revenue was slightly below estimates, however, and comparable-store sales fell a less-than-expected 1.4 percent.
Apple – Apple is in talks with the Department of Veterans Affairs to provide portable electronic health records to military veterans, according to The Wall Street Journal.
Lowe's – Lowe's was downgraded to "hold" from "buy" at Stifel Nicolaus, which cites both macroeconomic concerns as well as execution issues at the home improvement retailer.