Stocks making the biggest moves in the premarket: Urban Outfitters, Target, KB Home & more
Take a look at some of the biggest movers in the premarket:
Urban Outfitters (URBN) – Urban Outfitters shares are under pressure after the apparel retailer said comparable holiday season sales fell 9%, and also announced the departure of Trish Donnelly as CEO of the Urban Outfitters Group unit. Sheila Harrington, CEO of the company’s Free People Group division, will now also be in charge of the Urban Outfitters Group. The stock fell 10% in premarket trading as of 7:36 a.m. ET.
Target (TGT) – The retailer said its holiday season comparable sales rose 17.2%, with comparable in-store sales up 4.2% and digital sales more than doubling. The average customer ticket was up 12.3% from a year earlier. The shares rose 1% in premarket trading as of 7:36 a.m. ET.
Visa (V) – Visa and fintech company Plaid called off their planned $5.3 million merger. The Justice Department sued in November to stop the deal on antitrust grounds, and Visa CEO Al Kelly said the litigation would have taken substantial time to fully resolve.
Twitter (TWTR) – Twitter was upgraded to “buy” from “neutral” at MKM Partners, which said Twitter is poised to leave negative sentiment stemming from the pandemic and its actions surrounding President Donald Trump behind. The shares rose 1% in premarket trading as of 7:36 a.m. ET.
KB Home (KBH) – KB Home reported quarterly earnings of $1.12 per share, beating the consensus estimate of 93 cents a share. The home builders’ revenue also topped Wall Street forecasts. The company said housing market conditions continue to be “robust,” and expects meaningfully higher revenue and earnings this year. The shares added 4.8% in premarket trading as of 7:36 a.m. ET.
Regeneron Pharmaceuticals (REGN) – The U.S. government will buy 1.25 million additional doses of Regeneron’s Covid-19 antibody cocktail for about $2.63 billion. The doses will be delivered in the first half of the year and used to treat high-risk, non-hospitalized Covid patients. The shares gained 2.7% in premarket trading as of 7:36 a.m. ET.
Alphabet (GOOGL) – Alphabet’s YouTube unit suspended President Trump’s channel, saying it incited violence that led to last week’s assault on the U.S. Capitol.
Ford (F) – Ford reported a 6% increase in China car sales in 2020 compared to a year earlier, its first annual increase in China since 2017.
Walt Disney (DIS) – The company’s Disney+ service commanded 6% of consumer video streaming time in December, according to new data from Nielsen. Netflix dominated with 28% of streaming time, but that was down from 31% in December 2019.
American Tower (AMT) – The cellular tower company bought the European and Latin American telecom tower businesses of Spain’s Telefonica for $9.4 billion in cash.
Nio (NIO) – Nio priced its offering of $1.3 billion in convertible notes. The China-based electric vehicle maker plans to use the proceeds for general corporate purposes and to strengthen its balance sheet.
Bausch Health (BHC) – The health-care products maker said its fourth-quarter and full-year 2020 sales would exceed its prior guidance. The preliminary data come ahead of today’s presentation by Bausch at the J.P. Morgan Healthcare Conference.
Ally Financial (ALLY) – The financial services company announced a new $1.6 billion share repurchase program.