Johnson & Johnson, Goldman Sachs, fuboTV and more

News Update - Pre-Markets

Here are the companies making headlines before the bell:

Johnson & Johnson (JNJ) – Johnson & Johnson shares rose 1.4% in premarket trading after beating top- and bottom-line estimates for the third quarter, helped by growth in pharmaceutical sales. J&J cut its earnings outlook as it maintains caution due to the impact of a strong US dollar.

Hasbro (HAS) — The toy maker reported adjusted quarterly earnings of $1.42 per share, falling 10 cents from Street forecasts, with revenue matching estimates. Hasbro had cut its sales forecast earlier this month, noting increased consumer sensitivity to higher prices. Hasbro fell 3.5% in premarket trading.

Goldman Sachs (GS) – Goldman earned $8.25 per share for the third quarter, beating the consensus estimate of $7.69, while earnings also topped Wall Street forecasts. Goldman rose 2.3% in premarket trading. (AMZN) — Amazon added 2.3% in premarket trading after Citi named it a top pick for both a hard and soft economic landing, saying it would perform well under both scenarios.

fuboTV (FUBO) – fuboTV rose 10.4% in the premarket after the sports-centric streaming service announced it would eliminate its sports betting business and also raised its sales outlook.

XPO logistics (XPO) — XPO issued a preliminary third-quarter sales forecast that was slightly below analyst estimates and would be its smallest quarterly sales since 2015. However, the transportation company also raised its earnings forecast, and the stock rose 1.5% in premarket trading.

Nordstrom (JWN) – Nordstrom CFO Anne Bramman is stepping down in December. The retailer has started a search for a new CFO, with chief accounting officer Michael Maher as interim CFO. Nordstrom rose 1.7% in the premarket.

Intel (INTC) — Intel’s Mobileye unit is targeting a valuation of about $16 billion in its initial public offering, according to an SEC filing. The Wall Street Journal had reported that Intel had initially expected a value of around $50 billion for the self-driving car unit, but that it had lowered those expectations significantly. Intel added 1.2% in premarket action.

Goal (TGT) — Shares of the retailer jumped 3% in premarket trading after Jefferies upgraded it to “buy” from “hold,” saying Target will benefit from an easing of supply chain issues and improved inventory placement. Target shares rose yesterday after CEO Brian Cornell made positive comments at a Yahoo Finance conference.

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