Take a look at some of the biggest movers in the premarket:
Clorox (CLX) – The household products maker reported quarterly earnings of $3.22 per share, compared to a consensus estimate of $2.32 a share. Revenue also topped forecasts, as Clorox continued to benefit from purchases by homebound consumers amid the pandemic. Clorox also raised its full-year sales guidance. The shares were up 2.8% in premarket trading as of 7:35 a.m. ET.
Estee Lauder (EL) – The cosmetics maker earned $1.44 per share, well above the 90 cents a share consensus estimate. Revenue also beat forecasts and Estee Lauder announced a 10% dividend increase to 53 cents per share. The shares jumped 4% in premarket trading as of 7:35 a.m. ET.
Marathon Petroleum (MPC) – Marathon lost an adjusted $1.00 per share, less than the loss of $1.70 per share expected by Wall Street analysts. Revenue came in below estimates, however, amid significantly lower demand due to the pandemic’s economic impact. The shares were down slightly in premarket trading as of 7:35 a.m. ET.
AMC Networks (AMCX) – The cable network operator reported quarterly earnings of $1.32 per share, 4 cents a share above estimates. Revenue also exceeded forecasts. AMC said it expects to have 5 million to 5.5 million paid streaming video subscribers by the end of the year.
Lemonade (LMND) – Piper Sandler began coverage of the direct-to-consumer insurance provider with an “overweight” rating, noting Lemonade’s technology-forward competitive advantage.
Waste Management (WM) – Waste Management earned $1.09 per share for its latest quarter, 7 cents a share above estimates. Revenue also topped forecasts. The company said it was pleased with its performance despite a challenging economic backdrop. The shares added 1% in premarket trading as of 7:35 a.m. ET.
Dunkin’ Brands (DNKN) – Dunkin’ agreed to be acquired by Arby’s owner Inspire Brands for $8.8 billion in cash, or $106.50 per share, the largest North American restaurant acquisition since Burger King owner Restaurant Brands (QSR) acquired the Tim Hortons chain in 2014. The shares jumped 6% in premarket trading as of 7:35 a.m. ET.
Nielsen Holdings (NLSN) – Nielsen is selling its consumer goods data unit to private-equity firm Advent International for $2.7 billion. With the deal, Nielsen has abandoned its previously announced plan to split itself into two separate publicly traded companies. Separately, Nielsen reported better-than-expected profit and revenue for its latest quarter. The shares surged 8% in premarket trading as of 7:35 a.m. ET.
Bank of America (BAC) – Bank of America said nearly $10 billion of its consumer loan portfolio was in a deferral program as of Oct. 21.
JPMorgan Chase (JPM) – JPMorgan Chase raised its stake in its China securities joint venture to 71%, after buying a 20% stake from one of its local partners.
Under Armour (UAA) – Under Armour was upgraded to “buy” from “hold” at Stifel Financial, following its upbeat quarterly earnings report on Friday. Stifel cites a number of factors, including improved revenue quality for the athletic apparel maker.
View original post