Stocks to Watch: Tesla, Snap, Hertz, Bank of America, Fabrinet

By Amrith Ramkumar 

Here are some of the companies with shares expected to trade actively in Tuesday's session. Stock movements reflect premarket trading. Check back when the market opens for an updated list.

Tesla Inc. -- Up 0.1%: Some Tesla suppliers are worried about the auto maker's financial strength after production of the Model 3 car drained some of its cash, The Wall Street Journal reported late in Monday's session.

Snap Inc. -- Up 0.4%: The social-media firm fell for the fifth straight session Monday, its longest streak of consecutive declines since early May.

Bank of America Corp. -- Up 0.3%: Bank of America's brokerage arm Merrill Lynch will pay $8.9 million to settle charges it failed to disclose a conflict of interest, the Securities and Exchange Commission said late in Monday's session.

Medtronic PLC -- Up 4.6%: The medical-device company beat expectations for earnings and revenue from its first fiscal quarter. Medtronic also raised its organic revenue growth outlook to 4.5% to 5.0% from 4.0% to 4.5% and maintained its earnings outlook of $5.10 to $5.15.

Coty Inc. -- Down 4.9%: The cosmetics firm missed revenue estimates while beating earnings expectations by a penny.

Kohl's Corp. -- Down 3.2%: The department-store chain beat analysts' expectations for earnings and sales in its latest quarter and raised its profit outlook for the year.

JM Smucker Co. -- Down 3.3%: The owner of brands such as Smucker's coffee, Folgers and Dunkin' Donuts cut its full-year outlook to reflect the sale of its U.S. baking business to close at the end of August, although the company beat earnings estimates.

Hertz Global Holdings Inc. -- Down 2.8%: Hertz selected Jamere Jackson, the former finance chief of Nielsen, to lead its finance team and succeed Thomas Kennedy, who resigned to pursue the next stage of his career.

Fabrinet -- Up 7.3%: The optical-equipment specialist exceeded revenue expectations in its most recent quarter.

This is an expanded version of the "Stocks to Watch" section of our Markets newsletter. To receive it every morning via email, click here.

Write to Amrith Ramkumar at [e-mail]

(END) Dow Jones Newswires

August 21, 2018 09:24 ET (13:24 GMT)

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