logo-loader

PRE-MARKET MOVERS: Jack in the Box slips lower but Williams Companies gains ground

Last updated: 08:12 17 May 2018 EDT, First published: 03:12 17 May 2018 EDT

1526559224_shutterstock_145960664

US stocks are seen starting lower. Following the trend, Jack in the Box Inc (NASDAQ:JACK) saw its shares slip 3.2% lower at US$88.45 after the fast-food restaurant reported earnings and revenue, which were below expectations.

While same-store sales were higher than expected, system same-store sales missed expectations.

Elsewhere, Williams Companies Inc (NYSE:WMB) shares added 2.23% on pre-market deals to US$27.98 after the natural gas infrastructure specialist unveiled a deal to buy the outstanding shares of Williams Partners (NYSE:WPZ) in a deal valued at an eye-watering US$10.5 billion.

NetEase Inc (NASDAQ:NTES) shares  crashed over 9% lower before the New York bell to US$242 as its gross profits tumbled by 20% to US$949mln year-on-year for the three months to end March. The Chinese group put decreased revenue from mobile games such as Onmyoji and New Ghost as the main reason for the drop.

Cisco Systems Inc (NASDAQ:CSCO) shares are down 3.9% before the bell at US$43.40. It came after the tech firm's fourth-quarter forecasts came up short of Wall Street’s most optimistic projections.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

5 hours, 8 minutes ago