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

Joy Global (JOY)— The mining equipment maker reported adjusted quarterly profit of 17 cents per share, matching estimates, while revenue fell short of analysts’ forecasts as the commodity price slump continues to impact Joy Global’s customers.

Nvidia (NVDA) — Evercore upgraded the graphics chipmaker’s stock to “buy” from “hold,” even after a 181 percent year-to-date run up, noting that 2017 should be another good year for AI-related offerings.

21st Century Fox (FOX) — Brean Capital upgraded the media company’s stock to “buy” from “hold,” saying the sell-off following Fox’s bid to buy the rest of Britain’s Sky was overdone.

Alphabet (GOOGL)— Alphabet’s Google unit is reportedly racing to hire more conservatives for its lobbying arm, according to Reuters, after years of enjoying President Barack Obama’s support and positioning itself for a Hillary Clinton presidency.

Johnson & Johnson (JNJ) — Johnson & Johnson has dropped is bid for Swiss drugmaker Actelion. However, Actelion confirmed it is in talks about a “strategic transaction,” with both Reuters and Dow Jones reporting that France’s Sanofi is the company talking with Actelion.

Qualcomm (QCOM) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan Chase with a price target of $70.

Pridential Financial (PRU) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley.

Nordson (NDSN) rallied 7% in after-hours trading after it reported Q4 adjusted EPS of $1.39, better than consensus of $1.24, and said it sees Q1 EPS of 74 cents-84 cents, above consensus of 70 cents.

Hertz Global Holdings (HTZ) declined 4% in after-hours trading after CEO John Tague said he will retire January 2 and Kathryn Marinello will become the new CEO.

PBF Energy (PBF) dropped 2% in after-hours trading after it announced a public offering of 10 million shares of common stock.

Wells Fargo (WFC) lost 1% in after-hours trading after U.S. regulators said the bank could not unwind its business in the event of a failure and rejected its living will for a second time.

Callon Petroleum (CPE) fell almost 3% in after-hours trading after it announced a public offering of 34 million shares of common stock.

RCI Hospitality Holdings (RICK) climbed nearly 4% in after-hours trading after it reported Q4 adjusted EPS of 31 cents, better than consensus of 21 cents.

HEICO (HEI) slid 1% in after-hours trading after it reported Q4 net sales of $363.3 million, below consensus of $372.5 million.

Wabash National (WNC) gained almost 2% in after-hours trading after it reinstated its quarterly dividend of 6 cents per share, its first dividend in 8 years.

Peak Resorts (SKIS) jumped 15% in after-hours trading after the U.S. CIS gave approval needed for funds raised in Mount Snow’s EB-5 offering to be released from escrow immediately.

Global Eagle Entertainment (ENT) surged nearly 20% in after-hours trading after Southwest Airlines extended the use of Global Eagle’s Airconnect connectivity system and services.

Eagle Bulk Shipping (EGLE) slumped 9% in after-hours trading after it announced a $100 million private placement of approximately 22 million shares of common stock.

Source: FoxBusiness, Barchart, CNBC, Bloomberg, Reuters