Stocks - Yelp, General Electric Slump in Pre-market; Walt Disney, Hertz Rise
Stocks in focus in pre-market trade Friday:
· Walt Disney (NYSE:DIS) stock rose 1.59% as of 8:15 AM ET (13:15 GMT) after the company beat Wall Street estimates on the top and bottom lines on Thursday. It reported earnings of $1.48 a share on revenue of $14.31 billion.
· Lions Gate Entertainment (NYSE:LGFa) stock increased 5% after its earnings came in higher than expected.
· General Electric (NYSE:GE) stock was down 2% after J.P. Morgan cut its price target on the stock to $6 from $10, due to its earnings being worse than expected, CNBC reported.
· New Age Beverages (NASDAQ:NBEV) stock sank 19% after the company announced a secondary offering of common stock.
· Hertz Global (NYSE:HTZ) stock soared 17.80% following earnings after the bell yesterday that topped Street estimates by more than 40 cents per share.
· Yelp (NYSE:YELP) stock plunged 31.5% after it issued downside fourth-quarter guidance after the bell yesterday and said its new account growth slowed.
· Potbelly (NASDAQ:PBPB) stock tumbled 14%. The sandwich store chain missed earnings and revenue forecasts and also issued guidance below consensus.
· E. W. Scripps (NASDAQ:SSP) stock rose 3% following quarterly results that beat on the top and bottom lines.
· Tribune Media (NYSE:TRCO) stock gained 2% following earnings that handily topped forecasts, thanks in part to strong revenue from political advertising.
· Finisar Corporation (NASDAQ:FNSR) stock rose 5.3% after news that laser and optical products maker II-VI will buy Finisar, which is a major supplier to Apple (NASDAQ:AAPL), in a $3.2 billion deal.