Here are the companies making headlines before the bell:
Johnson & Johnson (JNJ) – Johnson & Johnson shares rose 1.4% in the premarket after beating top and bottom line estimates for the third quarter, helped by growth in pharmaceutical sales. J&J did narrow its earnings outlook, as it maintains caution due to the impact of a strong U.S. dollar.
Hasbro (HAS) – The toymaker reported adjusted quarterly profit of $1.42 per share, falling 10 cents shy of Street forecasts, with revenue matching estimates. Hasbro had cut its sales forecast earlier this month, noting increased consumer sensitivity to higher prices. Hasbro slid 3.5% in premarket trading.
Goldman Sachs (GS) – Goldman earned $8.25 per share for the third quarter, beating the $7.69 consensus estimate, while revenue topped Wall Street forecasts as well. Goldman rose 2.3% in the premarket.
Amazon.com (AMZN) – Amazon added 2.3% in premarket trading after Citi named it a top pick for both a hard and soft economic landing, saying it would perform well under either scenario.
fuboTV (FUBO) – fuboTV rallied 10.4% in the premarket after the sports-centered streaming service announced it would eliminate its sports betting business and also raised its sales outlook.
XPO Logistics (XPO) – XPO issued a preliminary third-quarter sales forecast that was slightly below analyst estimates and would be its smallest quarterly sales since 2015. However, the transportation company also raised its profit forecast, and the stock rose 1.5% in premarket trading.
Nordstrom (JWN) – Nordstrom Chief Financial Officer Anne Bramman will step down in December. The retailer has launched a search for a new CFO, with Chief Accounting Officer Michael Maher serving as interim CFO. Nordstrom rose 1.7% in the premarket.
Intel (INTC) – Intel’s Mobileye unit is targeting a value of about $16 billion in its initial public offering, according to an SEC filing. The Wall Street Journal had reported that Intel had initially expected a roughly $50 billion valuation for the self-driving car unit, but had scaled those expectations down substantially. Intel added 1.2% in premarket action.
Target (TGT) – The retailer’s stock jumped 3% in the premarket after Jefferies upgraded it to “buy” from “hold,” saying Target will benefit from an easing of supply chain issues and improved inventory positioning. Target shares had risen yesterday after CEO Brian Cornell made bullish comments at a Yahoo Finance conference.
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