Global Courant 2023-04-27 17:45:42
Check out the companies making headlines before the bell:
Meta platforms – Shares rose 12% after Facebook’s parent company beat Wall Street’s top- and bottom-line expectations and issued optimistic outlook. Meta Platforms posted its first revenue increase in about a year.
Teladoc Health – The telemedicine company saw its stock rise more than 7% after sales in the last quarter beat analysts’ estimates. The company also raised the bottom of its sales and adjusted its EBITDA guidance, though it posted a larger-than-expected loss in the last quarter. DA Davidson cited stable results and increasing confidence following Teladoc’s earnings.
Harley Davidson – Harley-Davidson rose 4.4% after the motorcycle maker beat profit and revenue expectations, according to Refinitiv consensus estimates. HOG reported first-quarter earnings of $2.04 per share versus an estimate of $1.39, on $1.56 billion in revenue that topped the $1.36 billion consensus.
Bank of the First Republic – The San Francisco-based lender was up 3% premarket after falling nearly 30% during Wednesday’s session. The slide came as the bank looked for a possible bailout deal.
KLA Corporation – The semiconductor equipment maker added 3% after KLAs most recent results of the third quarter of the financial year better than top and bottom line estimates, according to FactSet consensus estimates.
Ebay – The e-commerce platform rose 3% after Q1 earnings and revenue beat expectations, and issued better-than-expected guidance. Ebay reported earnings of $1.11 per share, better than analysts’ consensus of $1.07, on revenue of $2.51 billion, which beat Wall Street’s $2.48 billion estimate.
Eli Lilly and Co Shares of the Indianapolis-based drugmaker rose more than 3% after it reported higher-than-expected first-quarter sales and raised its full-year expectations at both highs and lows. Lilly generated $6.96 billion in revenue, more than the $6.86 billion analysts had expected, according to Refinitiv. However, adjusted earnings per share were 11 cents below estimates of $1.62.
Southwest airlines – The Dallas-based airline saw its shares fall 4% after a larger-than-expected loss for the first quarter due to the holiday crisis, when it canceled more than 16,000 flights at the end of December. The incident resulted in a $325 million revenue impact for the first quarter, Southwest said.
Roku – Shares rose 1.8% after Roku’s first-quarter revenue beat expectations, and it issued second-quarter revenue expectations that went beyond what Wall Street had expected. The TV streaming platform said its revenue in the last quarter was $741 million, much better than its consensus estimate of $708.5 million, according to Refinitiv. Roku issued a second quarter revenue expectation of $770 million, beating the analyst consensus of $768 million. Otherwise, Roku slightly missed earnings expectations in the just-ended quarter, posting a loss of $1.38 per share compared to forecasts for a loss of $1.37 per share.
Honeywell International – Honeywell rose 1.8% after beating earnings and revenue expectations in the last quarter. The conglomerate reported first-quarter earnings of $2.07 per share ex-items, beating Wall Street’s $1.93, on revenue of $8.86 billion that topped the consensus of $8. 52 billion.
US airlines – The Fort Worth, Texas-based airline rose 0.4% premarket after first-quarter earnings matched estimates, though revenue beat expectations. American reported first-quarter earnings of $0.05 per share ex-items, in line with Wall Street, on $12.19 billion in revenue, compared to analysts’ $12.20 billion.
Merck & co. – The New Jersey-based pharmaceutical maker advanced about 1.5% after beating estimates in its most recent quarter. Merck reported first-quarter earnings of $1.40 per share ex-items, beating analysts’ estimate of $1.32, on revenue of $14.49 billion that surpassed consensus of $13.78 billion , says Refinitiv.
Northrop Grumman – The defense contractor rose 1.6% after first-quarter earnings of $5.50 per share ex-items beat analysts’ estimate of $5.09, according to Refinitiv, while revenue of $9 .3 billion was higher than the consensus of $9.173 billion.
Caterpillar – The construction equipment maker earned an adjusted $4.91 per share last quarter, more than the $3.78 expected by the Refinitiv consensus, on revenue of $15.86 billion versus an estimate of $15.255 billion. Caterpillar shares fell 0.1% in early trading.
Bristol-Myers Squibb Company – Bristol Myers posted earnings of $2.05 per share ex-items in the last quarter, beating forecasts for $1.97 per share, according to Refinitiv. Revenue of $11.34 billion exceeded expectations of $11.49 billion. The stock gained 0.1% premarket.
Comcast – Shares of the media conglomerate rose 3.5% premarket trading after posting better-than-expected revenue in the first quarter, according to Refinitiv, despite losses at its Peacock streaming service and a decline in residential broadband subscribers. Comcast owns NBCUniversal, the parent company of CNBC.
Serve now – Stocks fell 1.1% premarket after a 17% year-to-date run-up in the latest earnings entry. The cloud computing provider earned $2.37 per share ex items in the last quarter, beating Wall Street’s $2.04 on $2.10 billion in revenue versus the analyst consensus of $2.08 billion, according to Refinitiv.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
– CNBC’s Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed to the reporting.
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