Check out some of the biggest promoters of the premarket:
Starbucks (SBUX) – Starbucks said its second quarter tax profit would likely drop by 47% due to the impact of the coronavirus and that it was abandoning full-year forecasts. The coffeehouse chain is also suspending its share buyback program, although it will continue to pay its dividend.
Costco (COST) – Costco posted a 9.6% jump in sales from the same store in March, thanks in large part to virus storage.
Walt Disney (DIS) – Walt Disney said that subscription numbers for its Disney + streaming service have exceeded 50 million globally. The jump was driven by global home return orders, as well as the introduction of the service in India, where 8 million people joined.
Anthem (ANTM) – Health insurer shares have been downgraded to “hold back” from “buy” at Jefferies, which said that a virus-induced recession will push more members of the managed care organization into the lower margin Medicaid category .
Visa (V), Mastercard (MA) – According to the Wall Street Journal, both payment networks have had increases in the sliding fees in the works for months. The increases were expected before the COVID-19 pandemic, and the document states that it is unclear whether tax increases will be implemented if the pandemic persists.
Diageo (DEO) – The liquor maker made the 2020 sales and profits forecast and also suspended the $ 5.6 billion share buyback program. However, the company said it would pay the April dividend as expected.
United Parcel Service (UPS) – The delivery service has been downgraded to “neutral” from “buy” at UBS, citing a drop in business-to-business volume and an overall drop in earnings.
Big Lots (BIG) – The discount retailer has been upgraded to “neutral” since the “sale” of JPMorgan Chase, both on the basis of an assessment and the easing of liquidity concerns.
Zoom Video (ZM) – According to the Financial Times, the United States Senate has told members not to use Zoom’s conference app due to security concerns. This follows Google’s move on Wednesday to ban employees from using Zoom on their laptops.
UBS (UBS), Credit Suisse (CS) – Swiss banks postpone part of their 2019 dividends, bowing to pressure from European regulators. Banks were the last two major banks to make such a move, claiming that their financial positions were strong enough to support dividend payments.
BlackRock (BLK) – BlackRock will not lay off any workers this year due to the coronavirus epidemic, according to CEO Larry Fink. He also said that the world’s largest asset manager will offer full-time pay to support staff even if they cannot come to work.
Nautilus (NLS) – Nautilus expects higher sales in the first quarter as home return orders increase demand for its sports equipment.
Progressive (PGR): Progressive is the latest automotive insurer to announce customer reimbursements due to a significant drop in driving. Progressive will repay approximately $ 1 billion in the form of credits for the April and May awards. The unit of Allico (ALL) and Berkshire Hathaway (BRKB) Geico had been among those who previously announced such moves.
Stitch Fix (SFIX) – Stitch Fix drew its 2020 guide due to growing uncertainty about the impact of the coronavirus. CEO Katrina Lake said the online styling service anticipated the impact on its business, but not to what extent its distribution centers would be shut down.