Comcast, Caterpillar, Merck and more
See which companies are making the headlines even before the bell rings.
Comcast (CMCSA) – The parent of NBCUniversal and CNBC reported adjusted quarterly earnings of 87 cents per share, 12 cents above estimates. Premarket shares rose by 3%, with revenue exceeding expectations as broadband and cable revenues increased.
Caterpillar (CAT) – Caterpillar shares rose 2.5% in the premarket after the heavy equipment maker beat bottom-line estimates for the third quarter despite a slight revenue shortfall. Due to high demand from the construction sector, adjusted earnings were $2.66 per share. This compares with a consensus estimate $2.20.
Merck (MRK) – The drugmaker beat estimates by 20 cents with adjusted quarterly earnings of $1.75 per share, with revenue also topping estimates on stronger sales of vaccines and cancer drugs. Merck’s premarket trading rose by 2.2%.
Tempur Sealy (TPX) – Shares of the mattress company added 2.5% in the premarket after it reported an adjusted quarterly profit of 88 cents per share, 3 cents above estimates. With a significant increase in sales to international markets, revenue also exceeded analyst expectations.
Ford (F) – Ford surged 9.5% in premarket trading, after it earned an adjusted 51 cents per share for the third quarter, well above the 27-cent consensus estimate. Ford raised its full year guidance due to strong demand, even though inventory was being reduced by the global chip shortage. Automaker Ford stated that supply chain restrictions should slow down in this quarter as well as throughout 2022.
eBay (EBAY) – eBay beat estimates by 1 cent with an adjusted quarterly profit of 90 cents per share, and the online marketplace operator’s revenue also topped forecasts. The stock fell 5.1% premarket as eBay released weaker guidance for the current quarter than was expected.
ServiceNow (NOW) – ServiceNow came in 17 cents ahead of estimates with adjusted quarterly earnings of $1.55 per share and revenue beating analyst projects as well. Premarket price decline of 2.5% was caused by the guidance provided by the provider of human resources. This is due to it not being in line for forecasts.
WPP Group (WPP) – WPP easily beat forecasts with its third-quarter results, and the advertising agency operator also raised its sales guidance as companies seek to take advantage of strong consumer spending with new ad campaigns. WPP gained 7.4% in premarket.
Anheuser-Busch InBev (BUD) – The company reported a surprise increase in quarterly profit, and the beer brewer also raised its 2021 earnings forecast. AB InBev’s strong beer sales in Brazil are helping to boost its share price, which soared by 10.2% on the premarket.
Align Technology (ALGN) – Align surged 8.4% in premarket trading after it beat estimates by 27 cents with adjusted quarterly earnings of $2.87 per share. Invisalign Inc. reported higher than expected revenue.
Sleep Number (SNBR) – Sleep Number earned $2.22 per share for its latest quarter, well above the $1.44 consensus estimate, with revenue easily beating forecasts. Premarket shares rose 7.8% and the mattress manufacturer also provided a better-than-expected full year earnings outlook.