Stocks making the biggest moves premarket: Alibaba, Zillow Group, Biogen, McDonald's, Beyond Meat & more

www.cnbc.com
Date:
Wednesday, May 15, 2019

Alibaba — The Chinese e-commerce giant beat estimates by a wide margin on both the top and bottom lines, driven both by increased user engagement and growth in its cloud business.

Tilray — Tilray reported an adjusted quarterly loss of 27 cents per share, two cents larger than analysts were expecting. The Canadian marijuana producer's revenue did come in above estimates, helped by acquisitions, legalization of recreational marijuana use in Canada and growth in its medical markets.

Aurora Cannabis — Aurora lost five cents per share for its fiscal third quarter, matching forecasts, while revenue fell below analyst estimates. Aurora – which is also a marijuana producer based in Canada – did see a surge in revenue from a year earlier, helped by the same factors that helped Tilray.

Restaurant Brands International — The company's Tim Hortons chain will be testing three breakfast options made with Beyond Meat's meatless patty. The test will begin at select locations in Canada. Separately, Restaurant Brands – which is also the parent of Burger King and Popeyes – announced plans to expand to 40,000 restaurants globally from the current 26,000 over the next eight to ten years.

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