Check out the companies that make headlines before the bell:
Snap – Snapchat’s parent company’s share plummeted 19.5% in front of the market after warning that growth would slow due to recent changes in Apple’s iOS privacy rules. These rules make it more difficult to collect information from users and targeted ads. Snap had adjusted quarterly earnings of 17 cents per share, 9 cents above the estimate, but its earnings were slightly below Wall Street’s forecast.
Intel – Intel fell 10% in pre-market transactions after chipmakers predicted lower profit margins over the next few years due to continued investment in new technologies. Intel reported adjusted quarterly earnings of $ 1.71 per share, above the consensus estimate of $ 1.11, but sales were below analysts’ expectations.
Boston Beer-Sam Adams Beer brewers reported an unexpected quarterly loss due to lower sales of the Truly Hardselzer brand, despite striving to grow in that category. Boston beer inventories fell 3.3% due to pre-marketing behavior.
Whirlpool – Consumers’ inventories fell 3.4% pre-marketing in response to warnings of “rising” supply constraints. Whirlpool reported adjusted quarterly earnings of $ 6.68 per share, above the consensus estimate of $ 6.12, but sales were below expectations.
Digital World Acquisition – SPAC, which merges with Trump Media & Technology Group, has surged another 59.8% in the premarket after more than quadrupled in trading on Thursday. The company, founded by former President Trump, plans to beta roll out social networks next month.
Mattel-Mattel surged 7.5% in pre-market transactions after toy makers said they couldn’t prevent the holiday season from booming due to supply chain turmoil. Mattel also outperformed the top and bottom line estimates and reported adjusted quarterly earnings of 84 cents per share compared to a 74 cents consensus estimate.
Honeywell – The industrial conglomerate was 3 cents above expectations, with adjusted quarterly earnings of $ 2.02 per share, but earnings slightly below expectations. Honeywell said it has achieved strong growth in all segments but still faces tough supply chain challenges.
American Express-Financial Services Giants earned $ 2.27 per share in the third quarter, surpassing the consensus estimate of $ 1.80 and earning more than Wall Street forecasts. The results were partially driven by record cardholder spending. American Express rose 1.4% before it went on the market.
Urban Outfitters-Apparel retailer stocks increased 2.7% in the premarket after Citi upgraded from “neutral” to “buy”. August.
Zoom Video Communications-JP Morgan Securities has upgraded its shares from “neutral” to “overweight”. The stock states that it already reflects the post-pandemic slowdown in remote video communications. The company said growth bottomed out this quarter and then accelerated with increased hiring by companies. Zoom rose 2.9% in pre-market trading.
VF Corp. – The North Face and other apparel brand makers fell 8.1% in the premarket after missing both top-line and bottom-line quotes in the last quarter. VF said demand is accelerating, but its recovery is affected by further pandemic-related turmoil.
Snap, Intel, Zoom Video, Boston Beer, etc.
Source link Snap, Intel, Zoom Video, Boston Beer, etc.