Stocks making the biggest moves premarket: Campbell Soup, Alphabet, Salesforce & more
Check out the companies making headlines before the bell:
Campbell Soup (CPB) – Campbell Soup reported a better-than-expected quarterly profit, although sales were slightly below expectation as organic sales fell by 1%. The company saw an increase in its share of the soup market for the first time in 10 quarters.
Alphabet (GOOGL) – The company announced that co-founder Larry Page would step down as CEO, replaced by the CEO of its Google unit, Sundar Pichai. The company’s other co-founder, Sergey Brin, will give up his title as president, although both Brin and Page will remain on the board of directors.
Salesforce.com (CRM) – Salesforce reported quarterly earnings of 75 cents per share, beating the consensus estimate of 66 cents a share. The business software provider’s revenue exceeded forecasts as well. Salesforce is seeing demand rise as more businesses move to the cloud. The company also issued a 2020 profit forecast above the Street’s outlook.
Workday (WDAY) – Workday beat estimates by 15 cents a share, with quarterly profit of 53 cents per share. The human resources software company’s revenue also came in above estimates and Workday raised its full-year forecast as more companies sign up for subscriptions. The company gave a weaker-than-expected outlook for next year, however.
Mastercard (MA) – Mastercard announced a 21% increase in its quarterly dividend, to 40 cents a share from the prior 33 cents a share. It also announced a new $8 billion share repurchase program.
Qualcomm (QCOM) – Qualcomm will appeal a South Korean High Court decision to uphold a record $873 million fine against the chipmaker. The fine had been imposed for allegedly unfair business practices.
Johnson & Johnson (JNJ) – J&J said new tests had shown that its Johnson’s Baby Powder product contained no asbestos. The Food and Drug Administration had said earlier this year that investigations had found trace amounts in the product. The new tests were conducted by two different third-party laboratories.
Boeing (BA) – In a blow to the jet maker, United Airlines (UAL) announced a new 50-jet order for Airbus A321XLR jets to fly between the U.S. East Coast and Europe. Those jets will replace the airline’s 53 Boeing 757-200 jets beginning in 2024.
Constellation Brands (STZ) – The spirits maker sold its Ballast Point craft beer unit to Illinois-based Kings & Convicts Brewing for an undisclosed amount. Constellation had bought Ballast Point in 2015 for $1 billion, still a record sale price for a craft brewery.
GoPro (GPRO) – The high definition camera maker said its new Hero8 camera saw record sales as the holiday season kicked off. CEO Nick Woodman said the strong holiday season start positions the company well to report a profit this year and increase sales and profits in 2020.