Global Courant 2023-04-21 17:08:58
In this photo illustration, a Procter and Gamble logo displayed on a smartphone with stock market rates in the background.
Omar Marquis | Rocket | Getty Images
Check out the companies making headlines before the bell:
Procter & Gamble Company – Shares rose about 1.5% in the premarket after the consumer goods giant’s revenue and earnings for the fiscal third quarter beat Wall Street expectations. Procter & Gamble also raised its fiscal 2023 organic sales growth forecast to 6% from its previous forecast of 4% to 5%.
CSX Corporation – Shares rose 2.4% after CSX’s first-quarter results beat expectations. The trucking company reported 48 cents per share and revenue of $3.71 billion. Analysts polled by Refinitiv had expected earnings of 43 cents per share on revenue of $3.58 billion.
W. R. Berkley – Shares of the commercial line insurer fell 3% after posting net earned premiums of $2.49 billion in the first quarter. That’s lower than the $2.53 billion analysts had expected, according to FactSet consensus expectations. The company also reported operating earnings per share of $1, down from $1.10 per share a year ago.
PPG Industries – Shares rose 0.8% in the premarket after PPG Industries released better-than-expected second-quarter guidance. The paint maker expects adjusted earnings to be $2.05 to $2.15 per share, beating analyst estimates of $1.96 per share.
Context logic – ContextLogic shares rose 16% in premarket trading following the online ecommerce platform announced a $50 million share repurchase program.
Regions Financial – Shares were up 0.6% after the company reported mixed quarterly results. The regional bank posted earnings per share that beat estimates while revenue remained in line with expectations, according to Refinitiv’s consensus expectations. However, it posted net interest income of $1.42 billion, surpassing FactSet’s consensus estimate of $1.4 billion.
Schlumberger NV – Energy stocks fell 0.6% even after the drilling company beat first-quarter expectations on top and bottom line. The company reported adjusted earnings of 63 cents per share on revenue of $7.74 billion. That’s more than the consensus expectation for earnings per share of 60 cents on revenue of $7.44 billion, according to Refinitiv.
Freeport-McMoRan – Shares of the mining company fell 1.1% in premarket ahead of Freeport-McMoran’s conference call discussing the latest quarterly results.
AT&T – Telecommunications stock rose 0.8% after HSBC upgraded AT&T to a buy rating. The Wall Street firm is recommending that investors buy shares in the telecommunications giant, which fell sharply the day before due to missed sales.
Philip Morris International – The stock was up 0.3% after Goldman Sachs said it remains bullish on Philip Morris International even after the sharp drop in tobacco share earnings. The company reiterated a buy recommendation.
— CNBC’s Michelle Fox contributed reporting
