Stocks making the biggest move premarket: FB, NVDA, PCG, JWN & more
Check out the companies making headlines before the bell:
Facebook – COO Sheryl Sandberg responded to a New York Times report that alleged the company ignored and then attempted to cover up how Russia used Facebook to disrupt the 2016 U.S. election. Sandberg acknowledged that Facebook was “too slow” in responding to Russian interference but said allegations saying, “The allegations saying I personally stood in the way are also just plain wrong.”
Nvidia – The chipmaker reported earnings that beat analysts’ estimates on the bottom line but revenue came in slightly weaker-than-expected. Nvidia also gave guidance for fourth-quarter revenue that was sharply below expectations.
PG&E – The utility may get government aid to avoid financial catastrophe, after California’s top utility regulator Michael Picker told analysts and shareholders his agency does not want PG&E to file for bankruptcy protection.
Nordstrom – The retailer reported with its third-quarter earnings that it incorrectly overcharged some of its credit-card customers. Nordstrom wrote down $72 million in credit-card refunds for the quarter.
BlackBerry – The tech company will acquire Cylance, an artificial intelligence and cybersecurity company, for $1.4 billion in cash. BlackBerry intends to use the acquisition to help expand its business unit which makes software for autonomous cars.
Tesla – The company reduced prices on its solar power systems as it looks to make sustainable energy use more affordable. The pricing change will help Tesla’s average customer make savings of between $3,000 and $4,000, a company spokesperson told CNBC.