Check out some of the biggest movers in the premarket:
IBM ( IBM ) — IBM fell 5.9% in premarket action, despite beating top and bottom estimates for the second quarter. IBM warned of a $3.5 billion impact on revenue due to the strong US dollar.
NCR ( NCR ) – NCR jumped 11.5% in premarket trading after The Wall Street Journal reported that private equity firm Veritas Capital was in exclusive talks to buy the financial technology provider.
Cinemark ( CNK ) – Shares of the movie theater operator were up 4.6% in premarket action after Morgan Stanley upgraded them to “overweight” from “equal weight”. Morgan Stanley said the return of consumers to movie theaters represented a trend that was not reflected in the share price.
Halliburton ( HAL ) — The oil services company’s shares rose 1.8% in premarket trading after beating top and bottom-line estimates for the second quarter. Profit rose nearly 41% from a year earlier as a surge in oil prices spurred a significant increase in drilling demand.
Johnson & Johnson ( JNJ ) — The health care company reported quarterly earnings of $2.59 per share, 5 cents per share above estimates. Revenue also beat forecasts. However, J&J cut its full-year guidance due to the strength of the US dollar rather than operational issues.
Hasbro ( HAS ) — The toymaker beat estimates by 21 cents a share, with quarterly earnings of $1.15 a share. Revenues were very slightly below forecasts. Hasbro said it continues to take steps to cut costs and ensure it has enough inventory for the holiday season.
Boeing (BA) — Boeing is close to a deal to sell a small number of 787 Dreamliners to aircraft leasing company AerCap Holdings, according to people familiar with the matter who spoke to The Wall Street Journal. Boeing added 1.3% in shares ahead of the market launch.
Truist Financial ( TFC ) – Shares of the banking company rose 1.9% in premarket trading after it reported better-than-expected profit and revenue for the latest quarter. Truist said the results reflected strong loan growth and widening net interest margins.
Sunrun ( RUN ), Sunnova Energy ( NOVA ) — Piper Sandler downgraded shares of both solar companies to “neutral” from “overweight,” noting both the failure of President Joe Biden’s “Build Back Better” program to pass Congress, so are cash flow prospects in a potentially recessionary environment. Sunrun fell 3.3% in premarket trading, while Sunnova lost 2.8%.
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