Take a look at some of the biggest movers in the premarket:
Deere (DE) â The heavy equipment maker reported quarterly earnings of $1.63 per share, beating the consensus estimate of $1.25 a share. Revenue also exceeded forecasts. Deere said it sees signs of stabilization in the U.S. farm sector, and that the relaxation of trade tensions is improving farmer confidence.
Coca-Cola (KO) â The beverage giant said the coronavirus outbreak would cut its current-quarter earnings by a penny to 2 cents per share, but adds that it still expects to achieve its prior full-year earnings targets.
T-Mobile US (TMUS), Sprint (S) â The mobile operators announced amended terms of their merger which will reduce the stake of Sprint shareholder SoftBank, while T-Mobile parent Deutsche Telekom will have a slightly higher stake.
Chewy (CHWY) â The pet products seller was upgraded to “outperform” from “sector perform” at RBC Capital, on what the firm calls a “highly favorable” risk-reward outlook. RBC said Chewy has strong sustainable fundamentals, including upbeat revenue growth and expanding profit margins.
Dropbox (DBX) â Dropbox reported quarterly earnings of 16 cents per share, beating consensus by 2 cents a share. The online file storage company beat revenue estimates as well. Dropbox also raised its profit margin outlook and announced a $600 million share buyback program.
First Solar (FSLR) â First Solar earned an adjusted $2.02 per share for the fourth quarter, short of the $2.72 per share profit that Wall Street analysts had anticipated. The solar power company’s revenue also came in below estimates and First Solar gave weaker-than-expected revenue guidance.
Wells Fargo (WFC) â The bank is close to settlements with the Securities and Exchange Commission and the Department of Justice over probes into its sales practices, according to The New York Times. The paper said the settlements could be announced as soon as today.
HP Inc. (HPQ) â HP adopted a so-called “poison pill” to help fend off Xerox’s (XRX) attempt to buy the computer and printer maker. The poison pill gives shareholders the right to buy more shares at a discount if any one entity acquires 20% of outstanding shares, diluting the group’s stake.
Fitbit (FIT) â Fitbit posted an unexpected loss of an adjusted 12 cents per share, compared to predictions of a 3 cents per share profit. The maker of wearable fitness devices also saw its revenue come in below forecasts, as it sold more devices but at lower prices.
Texas Roadhouse (TXRH) â Texas Roadhouse beat estimates by 9 cents a share, with quarterly earnings of 61 cents per share. The restaurant chain’s revenue beat forecasts as well with same-restaurant sales up 4.4%. Texas Roadhouse also announced a 20% dividend increase.
Sprouts Farmers Market (SFM) â Sprouts earned 27 cents per share for the fourth quarter, nearly doubling the 14 cents a share consensus estimates. The organic grocery chain’s revenue was slightly above forecasts, andÂ the company gave a better-than-expected full-year earnings outlook.
Pilgrim’s Pride (PPC) â Pilgrim’s Pride fell 10 cents a share short of estimates, with quarterly profit of 14 cents a share. The poultry producer’s revenue came in above Wall Street forecasts. Pilgrim’s Pride said it saw difficult market conditions in some key markets, most notably Mexico.