Take a look at some of the biggest premarket engines:
IBM ( IBM ) – IBM fell 5.9% in premarket trading despite beating second-quarter top- and bottom-line estimates. IBM warned of a $3.5 billion impact on earnings due to the strong US dollar.
NCR ( NCR ) – NCR rose 11.5% in the premarket 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 rose 4.6% in premarket trading after Morgan Stanley upgraded the stock to “overweight” from “equal weight.” Morgan Stanley said the return of consumers to movie theaters represents a trend that is not reflected in the share price.
Halliburton ( HAL ) – Shares of the oil services company rose 1.8% in premarket trading after beating top-line and bottom-line estimates for the second quarter. Profits were up nearly 41% year over year as a jump in oil prices fueled a big increase in drilling demand.
Johnson & Johnson ( JNJ ) – The healthcare company reported quarterly earnings of $2.59 per share, beating estimates by 5 cents per share. Revenues also beat forecasts. However, J&J cut its full-year guidance due to a stronger US dollar rather than operational issues.
Hasbro ( HAS ) – The toy maker beat estimates by 21 cents a share, with quarterly earnings of $1.15 a share. Profits were 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. Boeing added 1.3% to the market.
Truist Financial ( TFC ) – Shares of the banking company rose 1.9% in premarket trading after reporting better-than-expected quarterly earnings and revenue. Truist said its results reflected strong loan growth and net interest margin expansion.
Sunrun ( RUN ), Sunnova Energy ( NOVA ) – Piper Sandler downgraded both solar stocks from “overweight” to “neutral,” noting President Joe Biden’s “Build Back Better” agenda failed to pass Congress and cash flow outlook in a potentially recessionary environment. Sunrun fell 3.3% in premarket trading, while Sunnova lost 2.8%.