Stocks - Tyson, Fox Rise Premarket; Uber, Dollar Tree Fall
Investing.com - Stocks in focus in premarket trading on Monday:
• Tyson Foods (NYSE:TSN) stock rose2.4% in premarket trade by 8:20 AM ET (12:20 GMT) after the food conglomerate posted strong earnings, despite revenue being below expectations. Its top line was supported by an increase in its beef and prepared foods division, which helped offset mixed poultry results. The company maintained its profit guidance for the full-year at EPS of $5.75 to $6.10.
• Target (NYSE:TGT) stock slipped 0.9% under broader market pressure, despite being upgraded to “buy” from “hold” at Deutsche Bank (DE:DBKGn), according to CNBC.
• HSBC (NYSE:HSBC) was down 1.9% after its board ousted CEO John Flint, a 30-year veteran at the bank, less than a year-and-a-half after he took over in the top position. The bank is accelerating cost cuts to address unsatisfactory performance at its U.S. operations.
• Fox Corp (NASDAQ:FOXA) stock gained 1% on news that it is buying online finance broker Credible Labs for $397 million in cash.
• Uber (NYSE:UBER) stock declined 2% after Sky News reported that London's transport regulator is unlikely to approve its application for a five-year operating license, and instead only issue a twelve-month one. London is one of Uber's biggest markets in the world.
• Dollar Tree (NASDAQ:DLTR) stock fell 1.9% after Deutsche Bank (DE:DBKGn) downgraded the retailer to “hold” from “buy,” noting concerns over trade tariffs that now look likely to be extended to lower-value Chinese imports.
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