Stocks making the biggest moves premarket: AutoNation, Wayfair, Citigroup, Ford & more

Stock Market

Check out the companies making headlines before the bell:

AutoNation – The car retailer reported adjusted quarterly profit of $1.10 per share, 4 cents a share shy of estimates. Revenue also came in below analysts’ forecasts. Separately, the company announced that CEO Mike Jackson will step down March 11 and become executive chairman. He’ll be succeeded as CEO by Carl Liebert, the chief operating officer of financial services company USAA.

Wayfair – The online furniture retailer reported an adjusted quarterly loss of $1.12 per share, smaller than the loss of $1.28 per share that analysts were expecting. Revenue also topped Wall Street forecasts, as the company’s active customer count jumped 15.2 percent from a year earlier to 15.2 million.

Kraft Heinz – Kraft Heinz reported adjusted quarterly profit of 84 cents per share, 10 cents a share below estimates. The food company’s revenue also missed Wall Street forecasts. Additionally, Kraft said it had received a Securities and Exchange Commission subpoena regarding its accounting policies and procedures.

Citigroup – Jefferies upgraded the bank’s stock to “buy” from “hold,” pointing to an attractive valuation and a view that Citi will beat the Street’s consensus earnings estimates.

Hewlett Packard Enterprise — HPE beat estimates by 7 cents a share,with adjusted quarterly profit of 42 cents per share. The enterprise computing company fell very slightly short of Street revenue forecasts, and HPE raised its full-year outlook.

Zillow Group – Zillow CEO and co-founder Spencer Rascoff has stepped down from that position, effective immediately. Another Zillow co-founder, Rich Barton, will take over as CEO, a job he had held from 2005 to 2010. The real estate website operator also reported adjusted quarterly profit of a penny a share, matching forecasts, while fourth-quarter revenue and current-quarter revenue guidance were both above analysts’ forecasts.

Ford Motor – Ford said it had hired outside investigators to look into its fuel economy and testing procedures after workers raised concerns about those processes. The automaker said the probe does not involve the use of so-called “defeat” devices, which have been used to deceive government emissions tests.

Dropbox – Dropbox beat estimates by 2 cents a share, with adjusted quarterly profit of 10 cents per share. The file sharing and storage company also saw revenue beat expectations. The company also forecast a drop in operating margins, putting pressure on the stock. Bank of America/Merrill Lynch subsequently upgraded the stock to “buy” from “neutral,” saying any sell-off would represent a buying opportunity.

Intuit – Intuit earned an adjusted $1 per share for its fiscal second quarter, while the maker of TurboTax also reported better-than-expected revenue.

The Trade Desk – The programmatic advertising technology company reported adjusted quarterly profit of $1.09 per share, 30 cents a share better than analysts had predicted. Revenue also beat estimates.

First Solar – First Solar reported quarterly earnings of 49 cents per share, missing the consensus estimate of 64 cents a share. The solar equipment company saw revenue fall below Wall Street forecasts, and First Solar cut its 2019 gross margin forecast.

Roku – Roku came in 2 cents a share ahead of estimates, with quarterly profit of 5 cents per share. Revenue was also above forecasts and the maker of video streaming devices issued an upbeat 2019 outlook. – gave a much weaker-than-expected forecast for 2019 after announcing that it had ended its exclusive partnership with the U.S. Postal Service.

Apple – Apple is teaming up with China’s Ant Financial and several local banks to offer interest-free financing on purchase of its iPhones.

Newmont MiningBarrick Gold is considering a hostile bid for rival mining company Newmont, according to a report in Australia’s Globe and Mail newspaper. The bid under consideration is said to be for $19 billion in stock.

Tesla – Tesla began deliveries of its Model 3 automobile in China slightly ahead of schedule.

Baidu – Baidu reported better-than-expected sales and profit for its fourth quarter, with strength in its online marketing business as well as its streaming service iQiyi. Baidu said that it spent heavily on content and promotion for the iQiyi service, however.

Newell Brands – Newell CEO Michael Polk is under pressure from the consumer products company’s board of directors to prove his turnaround plan is working, according to The Wall Street Journal.

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