Goal, Restaurant Manufacturers, Disney & extra

Take a look at the businesses making headlines earlier than the bell:

Restaurant Manufacturers Worldwide — Restaurant Manufacturers reported weaker-than-expected quarterly earnings as gross sales in its Tim Horton’s enterprise unexpectedly fell. The corporate posted a revenue of 55 cents per share. Analysts polled by Refinitiv anticipated earnings of 58 cents per share. Tim Horton’s gross sales fell 0.6% within the quarter, whereas analysts anticipated a 2% improve.

Goal — An analyst at Barclays upgraded the retailer’s inventory to “chubby” from “equal weight, ” noting the corporate is forward of Amazon in same-day deliveries and “has constructed a provide chain that fulfills e-commerce primarily from shops (the place next-day supply is far simpler), which stands in a stark distinction to most retailers.”

Anadarko Petroleum — Anadarko introduced it would retake sale negotiations with Occidental Petroleum after agreeing to promote its enterprise to Chevron. Anadarko mentioned Monday that Occidental’s bid could possibly be “superior” Chevron’s.

American Airways — The airline was upgraded to “purchase” from “maintain” by Deutsche Financial institution though American just lately lowered its full-year earnings steerage. “We predict the resetting of expectations by administration basically establishes a ‘ground’ for AAL’s share worth and supplies the corporate a bit extra ‘cushion’ round its earnings targets,” the analyst mentioned in a observe.

Gardner Denver — Shares of the Gardner Denver surged practically 30% within the premarket after The Wall Avenue Journal reported the economic firm was in talks to merge with a division of Ingersoll-Rand. The deal, the report mentioned, would worth Gardner Denver at round $15 billion and would contain money and inventory.

Walt Disney — J.P. Morgan hiked its worth goal on Disney to $150 per share from $137 a share after Marvel’s “Avengers: Endgame” film shattered field workplace information, hauling in $1.2 billion in its world debut. “The underlying enterprise continues to carry out very properly with a number of notable catalysts forward that we imagine might proceed to drive outperformance,” in response to J.P. Morgan.

Spotify Expertise — The music streaming firm mentioned it now has 100 million paid subscribers for its premium service, overshadowing a larger-than-forecast quarterly loss. Spotify shares rose practically 4% earlier than the bell.

CVS Well being — CVS slipped within the premarket after Credit score Suisse downgraded the inventory to “impartial” from “outperform,” citing “traditionally excessive” leverage and its pharmacy operations being negatively impacted by efforts to decrease prescription drug prices.

Boeing — The Wall Avenue Journal reported the airplane maker didn’t inform Southwest Airways, its largest 737 Max buyer, {that a} security function within the plan was turned off. The report additionally mentioned Southwest didn’t learn about this till after the Lion Air crash final month.

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