Check out the companies making headlines ahead of time. Disney — Shares rose 7.8% after the entertainment giant reported a 50% increase in its dividend and higher-than-expected fiscal first-quarter earnings of $1.22 per share, compared with LSEG's consensus forecast of 99 cents. The company said it expects adjusted earnings to rise 20% to $4.60 per share in fiscal 2024, raising positive guidance for Disney. Ally Financial – Shares added 1.9% after Morgan Stanley upgraded the lender from equal weight to overweight. Ally is a strong way to play the upcoming low interest rates. PayPal — Shares fell 9.4% after the online payments leader posted slightly disappointing guidance for the full year and first quarter, despite the company's fourth-quarter earnings and revenue beating estimates. PayPal forecast that first-quarter revenue per share growth would decline to the mid-single digits year-over-year, compared to the LSEG consensus estimate of 8.7% growth. The company said on January 30 that it would lay off about 2,500 employees, or 9% of its workforce. New York Community Bancorp – Shares continued their pre-market decline, losing about 4.7%. The stock fell dramatically on Tuesday after Moody's downgraded its long-term credit ratings to junk due to concerns over risk management challenges, extending the bank's sell-off triggered by its quarterly loss on January 31 and a dividend cut. NYCB was also affected. With Wednesday's shareholder lawsuit, the company added to the stock's woes as it tries to reassure investors. Arm Holdings – Shares of the chipmaker surged more than 28% after reporting a fiscal third-quarter earnings beat. Arm reported adjusted earnings of 29 cents per share on revenue of $824 million. The company also released fourth-quarter earnings and revenue guidance that exceeded analysts' expectations. Apollo Global Management – Shares of the asset management firm rose nearly 3% after topping fourth-quarter earnings estimates. The company adjusted for $1.91 per share, compared with the $1.73 analysts expected, according to FactSet's Street Account. The company posted $32 billion in inflows in the quarter, bringing its total assets under management to $651 billion. American Express – Shares fell 1.6% following Morgan Stanley's downgrade from overweight to equal weight. The bank said that American Express's discounting earnings had declined and that good news from earnings and dividend hikes was now being reflected in prices. Maersk – Shares tumbled nearly 13% after the Danish shipping giant pointed to “high uncertainty” in its 2024 earnings outlook due to Red Sea disruptions and an oversupply of cruise ships. Maersk also said it would suspend share buybacks. — CNBC's Jesse Pound, Tanaya Maciel, Lisa Kailai Hahn and Michael Fox Theobald contributed reporting.
Stocks making biggest moves in premarket: DIS, PYPL, ARMand more
