Wednesday’s Pre-Market Look: Stocks In The News Before The Open

Wendy’s (WEN) – Nelson Peltz’s Trian increased its stake in the restaurant chain to 23.45 percent from the prior 15.6 percent.

Southwest Airlines (LUV) – The air carrier reported a 7.2 percent increase in revenue passenger miles in November from a year earlier.

Lowe’s (LOW) – The home improvement retailer reiterated its prior guidance for fiscal 2016 prior to its meeting with analysts and investors Wednesday in Mooresville, North Carolina.

UnitedHealth Group (UNH) – The health insurer was upgraded to buy from hold by Cantor Fitzgerald, which points to an upbeat outlook at last week’s investor day. Cantor said the stock has room to move higher despite a 34 percent year-to-date gain, due to factors including market share gains and the elimination of exchange losses.

3M (MMM) – RBC upgraded the Dow component to sector perform from underperform, with a recent drop in the stock making its risk/reward profile more balanced. RBC does say that health care exposure could hurt 3M due to possible new Trump initiatives, but it is raising its price target for 3M to $171 from $155.

Discover Financial Services (DFS) was upgraded to ‘Outperform’ from ‘Neutral’ at Wedbush with a 12-month target price of $78.

Best Buy (BBY) was rated a new ‘Buy’ at Loop Capital with a price target of $58.

ABIOMED (ABMD) was rated a new ‘Buy’ at Guggenheim Securities with a 12-month target price of $150.

MasterCard (MA) gained almost 1% in after-hours trading after it boosted its quarterly dividend to 22 cents a share from 19 cents, and then approved a $4 billion stock buyback program, effective upon completion of a previous program that has $1.3 billion remaining.

Western Digital (WDC) rallied over 5% in after-hours trading after it renewed a royalty-bearing cross licensing agreement with Samsung through 2024, and then raised guidance on Q2 adjusted EPS to $2.10-$2.15 from an October 26 view of $1.85-$1.95.

Dave & Buster’s Entertainment (PLAY) jumped 12% in after-hours trading after it reported Q3 EPS of 25 cents, well above consensus of 14 cents, and then raised guidance on fiscal 2017 comparable store sales to up +3.1%-3.6% from a prior view of +2.25%-3.25%.

Bluebird Bio (BLUE) fell over 2% in after-hours trading after it proposed a $200 million stock offering.

HealthEquity (HQY) dropped over 4% in after-hours trading after it reported Q3 EPS of 10 cents, below consensus of 12 cents.

AeroVironment (AVAV) tumbled nearly 10% in after-hours trading after it reported a Q2 loss per share of -18 cents, a much bigger loss than expectations of -1 cent, and then said it sees a Q3 loss per share of -34 cents to -38 cents, more than consensus of -24 cents.

Ensco PLC (ESV) declined over 6% in after-hours trading after it started a private placement of $650 million senior notes due 2014.

Sigma Designs (SIGM) sank over 10% in after-hours trading after it said it expects Q4 revenue of $42 million-$45 million, weaker than consensus of $57.4 million.

TerraForm Power (TERP) slid nearly 2% in after-hours trading after it said it sees completing the rest of its 2016 filings and regaining full compliance by March.

Source: Barchart, CNBC, FoxBusiness, Bloomberg, Reuters