Stock Groups

Snap, Intel, Zoom Video, Boston Beer & more

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See which companies are making the headlines even before the bell rings.

Snap – Shares of the Snapchat parent plunged 19.5% in the premarket after the company warned of slowing growth due to the recent changes in Apple’s iOS privacy rules. These rules make it harder to target users with ads and gather data. Snap beat Wall Street estimates by nine cents, with an adjusted quarterly profit (17 cents) per share. However its revenue was slightly lower than Wall Street’s forecasts.

Intel – Intel tumbled 10% in premarket trading after the chip maker predicted lower profit margins over the next few years due to ongoing investments in new technology. Intel posted adjusted quarterly earnings at $1.71 per shares, surpassing the consensus estimate. However, sales fell short of analysts’ expectations.

Boston Beer – The brewer of Sam Adams beer reported an unexpected quarterly loss, due to a decline in sales of its Truly hard seltzer brand despite efforts to grow in that category. Boston Beer stock declined 3.3% during premarket actions.

Whirlpool – The appliance maker’s stock fell 3.4% in the premarket, following a warning of “elevated” supply constraints. Whirlpool’s adjusted quarterly earnings were $6.68/share, which beat the $6.12 consensus estimate. But sales fell below expectations.

Digital World Acquisition – The SPAC that is merging with Trump Media & Technology Group is soaring another 59.8% in the premarket after more than quadrupling in Thursday’s trading. Former President Trump founded the company and plans to roll out its beta version of its social media network in March.

Mattel – Mattel surged 7.5% in premarket trading after the toy maker said supply chain disruptions would not prevent it from having a strong holiday season. Mattel reported an adjusted quarterly profit per share of 84 cents, which beat the consensus estimate by 74 cents.

Honeywell – The industrial conglomerate beat estimates by 3 cents with adjusted quarterly earnings of $2.02 per share, although revenue was slightly short of forecasts. Honeywell stated that it has seen strong growth in all segments but still faces tough supply chain challenges.

American Express – The financial services giant earned $2.27 per share for the third quarter, beating the $1.80 consensus estimate, with revenue also topping Wall Street forecasts. Record cardmember spending was a key driver of the results. American Express saw a 1.4% increase in premarket sales.

Urban Outfitters – The apparel retailer’s stock added 2.7% in the premarket after Citi upgraded it to “buy” from “neutral,” citing a more favorable risk-reward profile following a 25% slump in the stock since Urban Outfitters last reported quarterly earnings in August.

Zoom Video Communications – J.P. Morgan Securities upgraded the stockTo “overweight”, from “neutral”, because the stock already represents a post-pandemic slowdown of remote video communication. It stated that growth will slow to a halt in the fourth quarter, but then pick up due to increased adoption by companies. Zoom saw 2.9% growth in premarket trades.

VF Corp. – The maker of The North Face and other apparel brands tumbled 8.1% in the premarket, after it missed both top and bottom line estimates for its latest quarter. VF stated that it has seen accelerated demand, but its recovery was impeded by additional pandemic-related disruptions.

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