Johnson & Johnson, Goldman Sachs, fuboTV and more

News Update - Pre-Markets

Here are the companies making headlines before the bell:

Johnson&Johnson (JNJ) – Shares of Johnson & Johnson are up 1.4% premarket after beating sales and earnings estimates for the third quarter, helped by growth in pharmaceutical sales. J&J has trimmed its earnings outlook as it remains cautious on the impact of a strong US dollar.

Hasbro (HAS) — The toymaker reported adjusted quarterly earnings of $1.42 per share, 10 cents below Street’s forecasts, with earnings in line with estimates. Hasbro lowered its sales forecast earlier this month, noting increased consumer sensitivity to higher prices. Hasbro slipped 3.5% in premarket trading.

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Goldman Sachs (GS) — Goldman earned $8.25 per share in the third quarter, beating the consensus estimate of $7.69, while revenue also beat Wall Street forecasts. Goldman is up 2.3% premarket. (AMZN) – Amazon is up 2.3% in premarket trade after Citi named it a top pick for both a hard and soft economic landing and said it would do well in both scenarios.

fuboTV (FUBO) – fuboTV gained 10.4% in pre-market after the sports-focused streaming service announced it would be ending its sports betting business and also raised its revenue outlook.

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XPO logistics (XPO) – XPO released preliminary third-quarter revenue guidance that came in slightly below analysts’ estimates and would represent the smallest quarterly revenue since 2015. However, the transportation company also raised its earnings guidance, and the stock rose 1.5% in premarket trading.

north current (JWN) – Anne Bramman, Nordstrom’s chief financial officer, will step down in December. The retailer has launched a search for a new CFO, with Chief Accounting Officer Michael Maher acting as interim CFO. Nordstrom is up 1.7% premarket.

intel (INTC) – Intel’s Mobileye unit is targeting approximately $16 billion in its IPO, according to an SEC filing. The Wall Street Journal had reported that Intel originally expected the self-driving car division to be valued at around $50 billion, but had downgraded those expectations significantly. Intel added 1.2% in premarket measures.

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target (TGT) — The retailer’s stock is up 3% premarket after Jefferies upgraded it to a buy from a ‘hold’ and said Target will benefit from an easing of supply chain issues and improved inventory positioning. Target shares were higher yesterday after CEO Brian Cornell made optimistic comments at a Yahoo Finance conference.


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