Early movers: UNH, JNJ, BAC, HOG, NFLX, TSLA, CAB, BUFF & more
BUZ INVESTORS Early movers Johnson & Johnson beat estimates by six cents a share, with adjusted first-quarter profit of $1.83 per share. Revenue fell short of estimates. The health care company did raise its full-year forecast, and also said the acquisition of Actelion should be completed this quarter.
Netflix reported quarterly profit of 40 cents per share, three cents a share above estimates. Revenue matched forecasts, but the big focus for investors is subscriber guidance and the conflicting views surrounding it. Some are focusing on a slowdown in both U.S. and international subscriber additions, others are focusing on an upbeat forecast for those numbers later in the year.
A hazardous chemical spill occurred at Tesla’s Gigafactory battery facility in Nevada, but there were no serious injuries.
Cabela’s will sell its banking assets to Synovus Financial, clearing the way for the retailer of sporting goods and outdoor products to be bought by Bass Pro Shops. Cabela’s had planned to sell both its credit card portfolio and its banking assets to Capital One Financial, but the plan was opposed by regulators. Capital One will still go ahead with its purchase of the credit card portfolio.