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Stocks making the biggest moves premarket: Home Depot, Caterpillar, Tesla & more

Peter Schacknow

Check out the companies making headlines before the bell:

Home Depot HD – The home improvement retailer earned $2.09 per share for the fourth quarter, below the $2.16 a share consensus estimate. Home Depot also noted a 16-cents-a-share one-time impairment loss related to its Interline Brands unit. Revenue was below forecasts, as well. The company did announce a 32 percent quarterly dividend hike, as well as a new $15 billion stock buyback authorization.

Caterpillar CAT – The stock was downgraded to "sell" from "buy" at UBS , which predicted that the majority of the heavy equipment maker's end markets will peak this year, and that revenue and margins will come under pressure in 2020 as demand declines.

Mallinckrodt MNK – The drugmaker earned an adjusted $2.18 per share for its latest quarter, compared to the consensus estimate of $1.92 a share. Revenue was well above estimates, and Mallinckrodt also gave a better-than-expected earnings forecast for 2019.

J.M. Smucker SJM – The food producer reported adjusted quarterly profit of $2.26 per share, 25 cents a share above estimates. Revenue also beat analysts' forecasts. The results were helped by increasing contributions from some of the company's newer products.

Discovery Communications DISCA – The cable channel owner and programmer beat estimates by 2 cents a share, with adjusted quarterly profit of 82 cents per share. Revenue was slightly below Wall Street forecasts. Discovery made optimistic comments about 2019 as it expands and adds to its global content platforms.

Tesla TSLA – The Securities and Exchange Commission asked a federal judge to hold Tesla CEO Elon Musk in contempt of court , saying he violated a settlement reached last year by tweeting about the automaker's projected production volumes last week. Musk on Tuesday lashed out at the SEC in response, tweeting: "Something is broken with SEC oversight."

Shake Shack SHAK – Shake Shack reported adjusted quarterly profit of 6 cents per share, beating the consensus estimate of 3 cents a share. Higher prices helped push the restaurant chain's revenue above forecasts as same-restaurant sales rose 2.3 percent. However, Shake Shack's forward guidance was largely below Wall Street projections.

Etsy ETSY – Etsy beat estimates by 11 cents  a share, with quarterly earnings of 32 cents per share. The online arts and crafts marketplace saw revenue beta forecasts, as well. Etsy also issued strong 2019 revenue guidance.

Hertz Global HTZ  — Hertz lost 55 cents per share for its latest quarter, smaller than the 90 cents a share that analysts were expecting. The car rental company's revenue also beat Wall Street forecasts, and Hertz said it had strong momentum going into 2019.

Amazon AMZN – Amazon announced the addition of former PepsiCo CEO Indra Nooyi to its board of directors. Nooyi is the second woman to join the board this month, following the appointment of Starbucks SBUX Chief Operating Officer Rosalind Brewer.

Amgen AMGN – Amgen won a court decision confirming patents for its cholesterol drug Repatha , turning back a challenge from Sanofi SAN-FR and Regeneron Pharmaceuticals REGN . Sanofi and Regeneron jointly developed the competing drug Praluent, and said they disagreed with the ruling and would seek to have it overturned.

Foot Locker FL – Foot Locker was downgraded to "hold" from "buy" at Pivotal Research in a valuation call. The athletic apparel and footwear retailer's stock is up 21 percent over the past 12 months, and Pivotal also points to tough comparisons in coming quarters.

Tenet Healthcare THC – Tenet reported adjusted quarterly profit of 51 cents per share, well above the consensus estimate of 28 cents a share. The hospital operator's revenue also came in above analysts' forecasts, and it said it had meaningfully improved its financial performance during 2018.



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