Stocks making the biggest moves premarket: CMCSA, ORCL, RCL, MIK, TSLA & more

Stock Market

Check out the companies making headlines before the bell:

Comcast – Comcast is offering $65 billion for 21st Century Fox assets that Fox had already agreed to sell to Walt Disney. The bid by the NBCUniversal and CNBC parent is worth $35 per share and represents a 20 percent premium over Disney’s all-stock offer. Disney is lining up financing for a possible counteroffer that would include a cash component, according to The Wall Street Journal. Fox acknowledged receiving the bid and said it would review it.

Oracle – J.P. Morgan Securities downgraded the business software maker’s stock to “neutral” from “overweight,” saying the company’s fundamental performance has been inconsistent even as the stock price has been rising.

Royal Caribbean – The cruise line operator is buying a 66.7 percent stake in privately held luxury cruise line Silversea Cruises for $1 billion.

Michaels – The crafts retailer beat estimates by a penny a share, with adjusted quarterly profit of 39 cents per share. Revenue also beat forecasts. Michaels posted a comparable-store sales increase of 0.4 percent compared to a year earlier. However, Michaels gave a weaker-than-expected current-quarter forecast and said comparable sales would be about flat.

Tesla – CEO Elon Musk has bought an additional 72,500 shares of the automaker, worth about $24.9 million, according to a Securities and Exchange Commission filing. Musk now owns about 33.7 million shares worth about $11.6 billion.

Tailored Brands – The company reported adjusted quarterly profit of 50 cents per share, 2 cents a share above estimates. The apparel retailer’s revenue also topped forecasts. However, the parent of Jos. A. Bank, Men’s Wearhouse, and other apparel chains posted a 2.1 percent increase in comparable-store sales, falling below a 2.5 percent consensus estimate.

Gap – The apparel retailer named former Billabong International and Eddie Bauer CEO Neil Fiske as president and chief executive officer of its flagship Gap apparel brand.

Unilever – Unilever said it was “extremely unlikely” that the consumer products maker’s stock would remain in Britain’s FTSE 100 index once it moves its headquarters to the Netherlands.

General Electric – GE was urged by France’s finance minister to stick to its commitment to create 1,000 jobs at energy producer Alstom. GE had made that commitment when it bought Alstom’s energy business in 2015, but GE subsequently said the target was out of reach.

Microsoft – Microsoft is working on technology that would eliminate cashiers and checkout lines from stores, according to a Reuters report. That would represent a challenge to Amazon’s automated grocery stores.

Mylan – The drugmaker said it was informed by the Food and Drug Administration that its generic version of GlaxoSmithKline’s inhaled lung drug Advair could not be approved because of “minor deficiencies.” It was Mylan’s second rejection for its generic Advair product.

Twitter – Twitter has retooled its service to more prominently suggest news stories and real-time events for users to follow. The changes will be rolled out to Twitter mobile app users over the next few months.

Apple – Apple is working on a feature that The Wall Street Journal said may make it more difficult for law enforcement officials to retrieve data from iPhones. Apple said the feature is designed to strengthen safeguards against all potential intruders and that it is not designed to frustrate law enforcement efforts.

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