Stocks to Watch: Tesla, Snap, Hertz, Bank of America, Fabrinet
August 21 2018 - 9:39AM
Dow Jones News
By Amrith Ramkumar
Here are some of the companies with shares expected to trade
actively in Tuesday's session. Stock movements reflect premarket
trading. Check back when the market opens for an updated list.
Tesla Inc. -- Up 0.1%: Some Tesla suppliers are worried about
the auto maker's financial strength after production of the Model 3
car drained some of its cash, The Wall Street Journal reported late
in Monday's session.
Snap Inc. -- Up 0.4%: The social-media firm fell for the fifth
straight session Monday, its longest streak of consecutive declines
since early May.
Bank of America Corp. -- Up 0.3%: Bank of America's brokerage
arm Merrill Lynch will pay $8.9 million to settle charges it failed
to disclose a conflict of interest, the Securities and Exchange
Commission said late in Monday's session.
Medtronic PLC -- Up 4.6%: The medical-device company beat
expectations for earnings and revenue from its first fiscal
quarter. Medtronic also raised its organic revenue growth outlook
to 4.5% to 5.0% from 4.0% to 4.5% and maintained its earnings
outlook of $5.10 to $5.15.
Coty Inc. -- Down 4.9%: The cosmetics firm missed revenue
estimates while beating earnings expectations by a penny.
Kohl's Corp. -- Down 3.2%: The department-store chain beat
analysts' expectations for earnings and sales in its latest quarter
and raised its profit outlook for the year.
JM Smucker Co. -- Down 3.3%: The owner of brands such as
Smucker's coffee, Folgers and Dunkin' Donuts cut its full-year
outlook to reflect the sale of its U.S. baking business to close at
the end of August, although the company beat earnings
estimates.
Hertz Global Holdings Inc. -- Down 2.8%: Hertz selected Jamere
Jackson, the former finance chief of Nielsen, to lead its finance
team and succeed Thomas Kennedy, who resigned to pursue the next
stage of his career.
Fabrinet -- Up 7.3%: The optical-equipment specialist exceeded
revenue expectations in its most recent quarter.
This is an expanded version of the "Stocks to Watch" section of
our Markets newsletter. To receive it every morning via email,
click here.
Write to Amrith Ramkumar at amrith.ramkumar@wsj.com
(END) Dow Jones Newswires
August 21, 2018 09:24 ET (13:24 GMT)
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