American Airlines, Blackstone, AT&T and more
Take a look at the top companies that made headlines long before the bell rang.
American Airlines (AAL) – American soared 10.5% in premarket trading after reporting a smaller-than-expected loss and predicting profitability for the current quarter.
United Airlines (UAL) – United lost an adjusted $4.24 per share for the first quarter, 2 cents more than expected, and the airline’s revenue was also slightly below forecasts. United stated that it expected to return profitability in this quarter due to increased travel demand. The stock gained 8.3% during the premarket.
Blackstone (BX) – The private equity firm’s shares jumped 4% in the premarket after reporting better-than-expected profit and revenue for the first quarter, helped by strong results from its real estate and credit operations.
AT&T (T) – AT&T earned an adjusted 63 cents per share for the first quarter, 4 cents above estimates, and beat on the top line as well. Those numbers exclude the results of the now spun-off WarnerMedia unit, with AT&T benefiting from an increase in wireless revenue. AT&T added 1.4% in premarket action.
Tesla (TSLA) – Tesla surged 7.4% in premarket trading after reporting record quarterly profit and beating Wall Street’s top and bottom-line estimates. Tesla acknowledged that its production might be restricted for the remainder, due to shortages in computer parts. However, the company expects to grow deliveries.
Xerox (XRX) – Xerox tumbled 7.3% in the premarket after reporting an adjusted quarterly profit of 12 cents per share, 1 cent below consensus. Inflation pressures and problems in supply chains caused the company’s decline.
Dow Inc. (DOW) – The chemical maker’s stock added 2.1% in the premarket after beating estimates on both the top and bottom lines, helped by strong demand and higher prices.
Sleep Number (SNBR) – Sleep Number shares tanked 10.6% in premarket trading following a top and bottom-line miss for its latest quarter. It earned 9 cents per shared, which is well below the consensus 33-cent estimate. Supply chain problems also had an impact on its results.
Carvana (CVNA) – Carvana lost $2.89 per share for its latest quarter, wider than the $1.44-per-share loss analysts were anticipating. Although revenue beat expectations, the online auto retailer saw its first quarterly sales drop. Carvana’s premarket sales declined 5.1%
Lam Research (LRCX) – Lam Research fell 11 cents short of estimates with adjusted quarterly earnings of $7.40 per share, and the chipmaker’s revenue also fell short of Wall Street forecasts. Lam had higher expenses as it used more money to address supply chain disruptions. Lam experienced a loss of 1.3% in its premarket.
CSX (CSX) – CSX beat estimates by 2 cents with quarterly earnings of 39 cents per share, and the railroad operator’s revenue also topped forecasts. CSX received fewer shipments but this was compensated by an increase on shipping rates. Premarket trading saw a 2.1% increase in CSX.