Check out the companies making headlines in the premarket Wednesday:
Levi Strauss — The denim apparel maker posted third-quarter earnings of 31 cents a share on revenue of $1.45 billion, sending its stock up nearly 1% in the premarket. Analysts polled by Refinitiv expected a profit of 28 cents a share on $1.44 billion in revenue. But Levi Strauss also struggled to grow its wholesale business in the Americas, its largest market.
American Airlines — The airline extended cancelations of Boeing 737 Max flights until mid-January as reviews for the planes’ proposed software changes drag on. The Federal Aviation Administration said in a statement it is “following a thorough process, not a prescribed timeline, for returning the Boeing 737 Max to passenger service.”
Apple — An analyst at Canaccord Genuity hiked his price target on Apple to $260 per share from $240, citing surveys showing “iPhone 11 strength.” The analyst said: “With the stronger than anticipated initial sales for the launch of this year’s iPhone lineup, we believe the September quarter results could come in at the high end of guidance.”
Johnson & Johnson — A jury in Philadelphia ruled one of Johnson & Johnson’s subsidiaries must pay $8 billion in a case involving a linking Risperdal to male breast growth.
Domino’s Pizza — Domino’s was downgraded to “hold” from “buy” at Argus Research. The research firm cited increasing competition from services such as DoorDash, GrubHub and Uber Eats, noting they will “restrict same-store sales growth” for Domino’s moving forward.
FireEye — Shares of the cybersecurity company jumped more than 4% in the premarket on the back of strong revenue guidance for the third quarter. FireEye said it expects revenues for the quarter to come in at, or above, the high end of a range between $217 million to $221 million.
U.S. Steel — CFO Kevin Bradley announced his resignation, effective Nov. 4, but will remain with the company as an advisor to CEO David Burritt. Christine Breves, chief supply chain officer, will succeed Bradley as CFO.