Stock Groups

Chevron, Exxon Mobil, Newell Brands and more

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Take a look at the top companies that made headlines long before the bell rang.

Chevron (CVX) – Chevron gained 2.1% in the premarket after posting its highest quarterly profit in 8 years amid surging energy prices. Chevron reported an adjusted 2.99 per share, surpassing the $2.21 consensus estimate. Revenue also beat Wall Street estimates.

Exxon Mobil (XOM) – Exxon exceeded estimates by 2 cents with adjusted quarterly earnings of $1.58 per share, though revenue came in below analyst forecasts. Exxon saw higher profits due to stronger demand, as well as increased prices. This was the fourth consecutive year of highest profit. Exxon gained 1.5% through premarket trading.

Newell Brands (NWL) – The company behind consumer product brands like Rubbermaid, Sunbeam and Sharpie earned an adjusted 54 cents per share for the third quarter, 4 cents above estimates, with revenue slightly above forecasts. It raised its full year outlook in spite of supply chain and inflation problems and saw its stock rise 2% during premarket action.

Colgate-Palmolive (CL) – The personal care products company beat estimates by 2 cents with adjusted quarterly earnings of 81 cents per share and revenue also beating analyst predictions. Colgate, like many companies, said that it faces higher raw material and logistic costs.

Momentive Global (MNTV) – The parent of SurveyMonkey agreed to be bought by customer service platform operator ZendeskZEN stock for $4.13billion. Momentive Global fell 5.7%, and Zendesk plunged 18.5% during the premarket.

Apple (AAPL) – Apple matched estimates with quarterly earnings of $1.24 per share, but revenue fell below analyst forecasts for the first time since 2016. Premarket stock falls 3.6% due to supply-chain issues that impacted iPhone production and other Apple products.

Amazon.com (AMZN) – Amazon earned $6.12 per share for the third quarter, well below the $8.92 consensus estimate, with revenue also falling below forecasts. Amazon also cited issues in supply chains and referred to shortages of labor. Amazon shares declined 4.5% premarket.

Starbucks (SBUX) – Starbucks beat estimates by a penny with an adjusted quarterly profit of $1.00 per share, but the coffee chain’s revenue and global comparable-store sales fell short of Wall Street forecasts. Starbucks’ results were particularly affected by the resurgence in Covid-19 sales in China. Starbucks lost 5.2% during premarket actions.

Gilead Sciences (GILD) – Gilead earned an adjusted $2.65 per share for its latest quarter, surpassing the $1.75 consensus estimate, while the drugmaker’s revenue exceeded forecasts by a comfortable margin. Gilead reported strong demand for the antiviral Covid-19 treatment, remdesivir. However, full-year sales estimates of non-Covid drugs are not expected to reach previous estimates. The stock also lost 1.7% at premarket.

U.S. Steel (X) – U.S. Steel surged 9.2% in premarket trading after it reported an adjusted quarterly profit of $5.36 per share, compared with a $4.85 consensus estimate. Steel shipments increased more than expected, which in turn led to an increase in revenue. U.S. Steel also reported a raise of its quarterly dividend by 5 cents from the 1 cent and a 300 million stock buyback.

Western Digital (WDC) – The disk drive maker tumbled 11.2% in premarket trading after the company provided weaker-than-expected current-quarter financial guidance. Like other tech companies in the sector, Western Digital is also being affected by supply chain problems. However, it beat expectations by four cents and posted an adjusted quarterly profit $2.49 per shares.

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