Stocks making the biggest moves premarket: Lear, Intel, Colgate & more

Stock Market

Check out the companies making headlines before the bell:

Colgate-Palmolive – The consumer products company reported profit of an adjusted 74 cents per share for its latest quarter, while revenue and organic sales growth also beat forecasts. Colgate was helped by stronger demand on North America, however the company is also predicting lower sales and earnings for 2019.

DR Horton – The home builder missed consensus estimates by 2 cents a share, with quarterly profit of 76 cents per share. Revenue beat Wall Street forecasts, however. DR Horton said rising prices and higher interest rates have moderated demand for homes.

Lear Corp. – The automotive systems maker earned an adjusted $4.05 per share for its latest quarter, beating the consensus estimate of $3.92 a share. Revenue came in slightly below forecasts. Lear said its results were solid despite a challenging macroeconomic environment and a 5 percent drop in global vehicle production.

Starbucks – Starbucks reported adjusted quarterly profit of 68 cents per share, beating estimates by 3 cents a share. The coffee chain’s revenue also beat forecasts, and U.S. comparable-store sales were up 4 percent from a year ago.

Intel – Intel beat estimates by 6 cents a share, with adjusted quarterly earnings of $1.28 per share. The chipmaker’s revenue missed forecasts, however, and it issued lower-than-expected guidance for the current quarter. Intel pointed to weaker demand in China as a key reason for its revenue weakness.

Oracle – Oracle said Google’s legal arguments to dismiss a nearly decade-old copyright case have already been examined and discredited. The Alphabet unit had asked the Supreme Court to reverse a ruling that revived a copyright case brought by Oracle back in 2010 involving the use of Oracle’s Java programming language.

MasterCard – MasterCard announced a deal to buy U.K. payments company Earthport for $304.1 million. Earthport had previously had a deal in place to be bought by rival Visa, but Earthport has now withdrawn its recommendation of that transaction.

Microsoft – Microsoft’s Bing search service has been restored in China, following a disruption that saw the service unavailable in that country. Microsoft said the company is investigating exactly why Bing was disrupted.

Ericsson – Ericsson beat analysts’ forecasts with its fourth-quarter earnings and revenue. The Swedish telecom equipment maker benefited in part from rising demand for 5G equipment.

Discover Financial Services – Discover exported quarterly profit of $2.03 per share, falling 3 cents a share short of consensus forecasts. Revenue was in line with estimates, but results were hurt by loan losses among other factors.

Western Digital – Western Digital missed estimates by 6 cents a share, with adjusted quarterly profit of $1.45 per share. The disk drive maker saw revenue fall slightly below analysts’ forecasts. Revenue was down almost 21 percent from a year earlier, on waning demand for smartphone storage, however the company also said revenue will improve in the second half of this year and that it planned to cut costs.

E*Trade Financial – E*Trade matched estimates with quarterly earnings of $1.03 per share, but the online brokerage’s revenue fell short of analysts’ forecasts.

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