Stocks making the biggest moves premarket: JPM, UNH, DAL, AAPL, TLRY & more

Stock Market

Check out the companies making headlines before the bell:

JPMorgan ChaseThe bank reported quarterly profit of $1.98 per share, below the consensus estimate of $2.20, with revenue essentially in line. Consumer, community, and business banking results beat forecasts, but investment bank and wealth management results did not.

UnitedHealth GroupThe health insurer reported adjusted quarterly profit of $3.28 per share, 7 cents above consensus, while revenue also beat Wall Street forecasts. The company also reaffirmed its prior full-year forecast.

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Delta Air LinesThe airline beat Street forecasts by 3 cents with adjusted quarterly earnings of $1.30 per share, with revenue in line with Street forecasts. Delta also reported a better-than-expected 3.2 percent increase in passenger-revenue-per-available-seat mile.

AppleA German court threw out a patent suit against Apple by Qualcomm, reversing a recent decision that banned the sale of some iPhones in Germany. Qualcomm plans to appeal this latest decision in the long-running legal battle between the two companies.

CVS HealthCVS said it expects Walmart pharmacies to leave its pharmacy-benefit-management network in a dispute over pricing.

Tilray – The lockup on share sales by insiders at the cannabis producer expires Tuesday. Separately, Tilray announced a revenue sharing partnership with Authentic Brands group to develop and market consumer cannabis products.

OracleThe enterprise software maker’s shares were downgraded to “equal-weight” from “overweight” at Morgan Stanley, which said it does not see the catalysts needed to drive the stock higher this year. Morgan Stanley’s top picks in the sector for 2019 are, Microsoft, and Palo Alto Networks.

Take-Two InteractiveThe video game maker has signed a licensing deal with the NBA players union for its “NBA 2K” franchise, according to The Wall Street Journal. Take-Two will reportedly pay up to $41.1 billion over seven years.

Sherwin-WilliamsThe paint company issued weaker-than-expected preliminary quarterly results, citing weak sales growth by its North American stores in October and November. The company does add that sales rebounded somewhat in December.

Dave & Buster’s Entertainment – Dave & Buster’s raised its revenue guidance for the fiscal year ending Feb. 3. The operator of entertainment and dining venues said it is seeing success in driving comparable-store sales higher and that its new locations are delivering excellent returns.

Volkswagen, Ford Motor – The automakers are set to announce an alliance today at the Detroit auto show that will focus on commercial vehicles and expand into electric and self-driving technology, according to Reuters.

PG&E – The shares continue to be pressured following the utility’s announcement Monday that it intended to file for Chapter 11 bankruptcy protection.

Exelixis The drugmaker received FDA approval for its Cabometryx tablets designed to treat patients with a rare form of liver cancer.

Energizer Holdings – Energizer announced preliminary first-quarter net sales of about $572 million, above the consensus Refinitiv estimate of $570.7 million. The battery maker is set to release its full quarterly results on Feb. 5.

Canopy Growth – The cannabis producer is adding to Monday’s gains, which came after an announcement that it was granted a license to produce hemp products in New York state.

Intel – Chief Strategy Officer Aicha Evans is leaving the chipmaker to become CEO at autonomous vehicle startup Zoox.

Viacom – Viacom was upgraded to “buy” from “hold” at Pivotal Research in a valuation call. Analyst Brian Wieser also increased his price target on the stock to $36 per share from $33.

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