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Stocks making the biggest moves in the premarket: ViacomCBS, E-Trade, Zillow, IMAX & more

ViacomCBS (VIAC) – In its first income report since the merger of Viacom and CBS was finished in December, the organization revealed quarterly profit of 97 pennies for every offer, underneath the agreement gauge of $1.44 an offer. Income was additionally beneath Wall Street conjectures, however ViacomCBS said the quarter was transitional and that the mix will cut costs by more than anticipated.

E-Trade Financial (ETFC) – E-Trade consented to be purchased by Morgan Stanley (MS) for $13 billion in stock, speaking to an estimation of $58.74 per share dependent on Morgan Stanley’s Wednesday shutting cost.

Norwegian Cruise Line (NCLH) – The voyage line administrator beat evaluates by 3 pennies an offer, with quarterly income of 73 pennies for each offer. Income additionally beat estimates. Norwegian additionally said it was probably not going to accomplish earlier entire year focuses because of the effect of the coronavirus, right now evaluated at 75 pennies for each offer.

Hormel Foods (HRL) – The nourishment maker revealed quarterly benefit of 45 pennies for every offer, a penny an offer beneath gauges. Income beat Wall Street gauges. Independently, Hormel reported the securing of long-term smoked meats provider Sadler’s Smokehouse for an undisclosed sum.

Avis Budget (CAR) – Avis Budget revealed quarterly benefit of 73 pennies for every offer, well over the 50 pennies an offer agreement gauge. The vehicle rental organization’s income was above appraisals also. Avis Budget said the quarter was topped by its best-ever December execution in the U.S.

Zillow (Z) – Zillow lost 26 pennies for each offer for the final quarter, 9 pennies an offer not as much as Wall Street had been anticipating. The online land organization’s income was well above appraisals, driven by an expansion in the quantity of individuals utilizing Zillow’s site to purchase and sell homes.

(IMAX) – IMAX beat assesses by 4 pennies an offer, with quarterly profit of 35 pennies for every offer. The cinema administrator’s income additionally came in above Street conjectures.

Six Flags (SIX) – The amusement park administrator posted a quarterly misfortune contrasted with a year-back benefit. It likewise gave a more fragile than-anticipated profit standpoint for 2020, cut its profit by about 70%, and reported that its CFO intends to resign toward the finish of August.

(UBS) – UBS named ING CEO Ralph Hamers as its Chief Executive Officer, powerful Nov. 1. UBS is the second huge Swiss bank to supplant its CEO this month, with Credit Suisse (CS) doing as such on Feb. 7.

Mosaic (MOS) – Mosaic lost 29 pennies for each offer for the final quarter, more extensive than the 5 pennies an offer misfortune anticipated by Wall Street. The compost maker’s income beat assesses and anticipated a bounce back in manure request this year.

General Electric (GE) – GE is looking for new airplane motor business from Airbus, in the midst of the continuous issues for significant client Boeing (BA). The Wall Street Journal reports GE is in chats with the European fly producer to plan and sell a motor for the freshest Airbus widebody stream, the A330neo.

L Brands (LB) – L Brands sold a controlling stake in its Victoria’s Secret business to private-value firm Sycamore Partners for $525 million. Leslie Wexner will step down as Chairman and CEO of L Brands, saying “now is the ideal time to pass the reins.” L Brands will hold a 45% stake in Victoria’s Secret.

MGM Resorts (MGM) – MGM said it was the casualty of an information rupture, which uncovered subtleties of earlier visitors. The hotel administrator said no money related or secret word information was undermined. ZDNet had announced before that the subtleties of more than 10.6 million visitors were included. (STMP) – earned $2.12 per share for the final quarter, more than twofold the accord gauge of $2.03. The postage administrations supplier likewise observed income come in above estimates, quieting fears that the finish of its arrangement with the U.S. Postal Service would seriously affect its business.

Teva Pharmaceutical (TEVA) – The drugmaker declared that a test treatment for patients with moderate to serious Tourette Syndrome didn’t meet its essential objective in a preliminary.

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