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PRE-MARKET MOVERS: Fastenal fires up in pre-market after earnings top estimates, while Pfizer fizzes higher too

Also in play in pre-market is Morgan Stanley and its promotion and retailer Macy's..
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Shares on Wall Street are set to join other global indices on Wednesday to head lower

US benchmarks are seen starting lower on Wednesday but some stocks are bucking that trend.

Heading higher in before-the-bell trading was Fastenal Company (NASDAQ:FAST), which shot up 7.51% to US$53.25.

The distributor of industrial and construction supplies beat earnings estimates for the second quarter, with net income coming in at US$211.2mln or US$0.74 a share, up from $148.9 million, or US$0.52 a share, in the year-earlier period.

Consensus analyst estimates was for EPS (earnings per share) of US$0.66 and sales of US$1.257bn.

Meanwhile, retail giant Macy's Inc (NYSE:M) shares were unmoved in pre-market deals as it became the latest firm to become the victim of  a data breach.

The famous department store has revealed that hackers have managed to get names and passwords of online customers.

What's more, reportedly, they may have also accessed card numbers and expiry dates.

Also trending in pre-market deals was drugs giant Pfizer Inc (NYSE:PFE), whose shares nudged up 0.053% in before-the-bell trade.

Pfizer surprised by saying today it will defer putting up prices on multiple drugs after heavy pressure from US  president Donald Trump about its pricing methods.

Last but not least, investment banking giant Morgan Stanley (NYSE:MS) was also making headlines before the New York bell.

Shares are down  1.25% at US$47.50 at the time of writing as it emerged that the it had picked Ted Pick its trading chief to become the head of entire institutional securities group.

He will be reporting to Morgan Stanley president Colm Kelleher and the promotion is being seen as a sign he is in a leading position to succeed James Gorman as the chief executive.


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