Friday Pre-Market Look: Stocks In The News Before The Open

ByGary Kaltbaum

Wells Fargo (WFC) was downgraded to ‘Underperform’ from ‘Market Perform’ at BMO Capital Markets.

Goldman Sachs Group (GS) was upgraded to ‘Outperform’ from ‘Neutral’ at Macquarie Research with a 12-month target price of $245.

Salesforce.com (CRM) rallied over 5% in pre-market trading after it reported Q3 adjusted EPS of 24 cents, above consensus of 21 cents, and said it sees Q4 revenue between $2.267 billion-$2.277 billion, higher than consensus of $2.24 billion.

Marvell Technology Group Ltd (MRVL) jumped over 6% in after-hours trading after it reported Q3 adjusted EPS of 20 cents, well above consensus of 12 cents, and said it sees Q4 adjusted EPS between 17 cents-21 cents, higher than consensus of 13 cents.

The Gap (GPS) fell over 8% in pre-market trading after it reported Q3 comparable sales were down -3%. The retailer will be closing more stores than initially expected.

Ross Stores (ROST) rallied over 3% in after-hours trading after it reported Q3 EPS of 62 cents, higher than consensus of 56 cents and raised guidance on full-year EPS to $2.78-$2.81 from an August 18 view of $2.69-$2.75.

Applied Materials (AMAT) lost almost 4% in after-hours trading after it said Q4 new orders fell -16% q/q and backlog fell -7% q/q to $4.58 billion.

SolarCity (SCTY) gained nearly 2% in after-hours trading after Tesla shareholders overwhelmingly approved the merger with SolarCIty by an 85% vote.

Nuance Communications (NUAN) rose over 1% in after-hours trading after it reported Q4 adjusted EPS of 41 cents, higher than consensus of 39 cents.

Williams-Sonoma (WSM) fell 4% in after-hours trading after it reported Q3 net revenue of $1.25 billion, below consensus of $1.26 billion.

Sportsman’s Warehouse Holdings (SPWH) climbed over 1% in after-hours trading after it raised its view on 2016 revenue to $789 million-$794 million, above consensus of $788.1 million.

Post Holdings (POST) gained almost 2% in after-hours trading after it reported Q4 adjusted EPS of 61 cents, higher than consensus of 44 cents.

Synutra International (SYUT) surged over 20% in after-hours trading after it agreed to a merger pact to go private with Beams Power Investment.