Stocks - Target, Kohl’s, Aurora Cannabis Soar in Premarket, Hertz Global Tumbles

Investing.com

Tue, Mar 5, 2019, 3:18 AM

In this article:

Investing.com - Stocks in focus in premarket trade Tuesday:

• Target (NYSE:TGT) stock soared 6.70% by 8:14 AM ET (13:14 GMT) after the company reported better-than-expected comparable store sales for the fourth quarter and provided a forecast for full-year profit that topped estimates.

• Hertz Global (NYSE:HTZ) sank 7.95% after SEC filings showed that activist investor Carl Icahn’s investment firms sold off 5 million shares, dropping his total stake to 28.91%.

• GameStop (NYSE:GME)stock jumped 5.36% after the company announced a new $300 million stock repurchase program, replacing the $170 million remaining in the prior authorization.

• Kohl's (NYSE:KSS) stock advanced 5.16% after quarterly earnings beat on the top and bottom lines.

• Aurora Cannabis (NYSE:ACB) stock gained 4.57% after Cowen initiated coverage on the stock with an outperform rating and put the company on its list of top picks, according to CNBC.

• Salesforce.com (NYSE:CRM) stock slumped 1.20% after the company provided a weak guidance for the first quarter.

• Papa John's (NASDAQ:PZZA) stock may see movement in the regular session after the company announced that it had reached a settlement agreement for its former chairman John Schnatter to resign from the board if a mutually acceptable independent director could be found.

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Altria tops first quarter sales on higher pricing, robust demand for smokeless alternatives
Like other tobacco giants, Altria has been revamping its portfolio of products to keep up with consumers switching from traditional tobacco products to vapes or other alternatives and as inflation-hit smokers switched to cheaper brands. The company's net revenue came in at $5.58 billion in the first quarter, topping analyst expectations of $4.71 billion, while profit on an adjusted basis came in line with expectations. Last year, Altria launched a lower-priced version of its flagship Marlboro brand and finalized its acquisition of e-cigarette startup NJOY Holdings, expanding its portfolio to include pod-based vapes.
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Stocks - Target, Kohl’s, Aurora Cannabis Soar in Premarket, Hertz Global Tumbles

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