A look at companies in the spotlight before the open: American Airlines — Shares fell 6% after the airline weakened its third-quarter profit guidance. American now expects unit revenue to fall as much as 4.5% amid industry-wide overcapacity and weak fares. Honeywell — Shares fell nearly 5% after industry giant Honeywell issued an outlook that was worse than analysts’ expectations, overshadowing a better-than-expected quarterly performance. The company expects third-quarter earnings per share in the range of $2.45 to $2.55. This is below Street accounts’ expectations of $2.58 per share. Southwest Airlines — Shares of the low-cost carrier fell 5% despite better-than-expected second-quarter results. Southwest reported adjusted earnings per share of 58 cents on revenue of $7.35 billion. Analysts surveyed by LSEG had expected earnings of 51 cents per share on revenue of $7.32 billion. The company warned that revenue per average seat mile in the current quarter could fall compared to the same period a year ago, while non-fuel costs could increase by up to 13%. RTX — The aerospace and defense goods manufacturer rose 3% after second-quarter profit beat expectations. RTX reported earnings per share, excluding items, of $1.41, beating analysts’ estimates of $1.30 per share, according to LSEG. The company also posted revenue of $19.79 billion, also beating expectations. Hasbro – The toy maker surged more than 6% after raising its full-year guidance. Second-quarter profit and revenue also beat expectations. Hasbro reported earnings per share, excluding items, of $1.22, beating the consensus estimate of 78 cents per share, according to LSEG. AbbVie — Shares of the biopharmaceutical company fell about 3% despite reporting better-than-expected second-quarter results.AbbVie said earnings per share excluding items were $2.65, beating expectations of $2.57 per share, according to LSEG. Revenue was $14.46 billion, beating expectations of $14.03 billion. Dow — The chemical company lost about 5% after second-quarter sales and profits fell short of expectations. Dow said earnings per share excluding items were 68 cents on revenue of $10.92 billion. Analysts surveyed by LSEG had expected earnings per share of 72 cents and revenue of $11.01 billion. International Business Machines — Shares rose 3% after the technology company’s quarterly results beat expectations. The company reported second-quarter revenue of $15.77 billion and adjusted earnings of $2.43 per share. Analysts surveyed by LSEG had expected earnings per share of $2.20 on revenue of $15.62 billion. IBM said it expects full-year free cash flow to be slightly higher than it did in April and that it is seeing more business related to generative artificial intelligence. Northrop Grumman — The defense company rose 3% after reporting better-than-expected second-quarter sales and profits and raising its outlook. Northrop Grumman posted earnings per share of $6.46 on revenue of $10.22 billion. Analysts surveyed by LSEG expected earnings per share of $5.93 on revenue of $10.02 billion. Keurig Dr Pepper — The beverage company rose nearly 5% after reporting quarterly results in line with expectations and restating its full-year outlook. Keurig Dr Pepper posted adjusted earnings per share of 45 cents on revenue of $3.92 billion.Nasdaq — Shares rose 2% after the financial services company reported second-quarter results that slightly beat analysts’ expectations. Excluding items, Nasdaq said earnings per share were 69 cents on revenue of $1.16 billion. Analysts had expected earnings of 64 cents per share and revenue of $1.13 billion. KLA Corporation — The chipmaker rose more than 2% after reporting better-than-expected fourth-quarter results. KLA reported adjusted earnings of $6.60 per share, beating analysts’ expectations of $6.15 per share, according to LSEG. Revenue was $2.57 billion, beating expectations of $2.52 billion. The company raised its first-quarter adjusted earnings and revenue forecasts. ServiceNow — The software stock jumped 6% in premarket trading after the company reported better-than-expected earnings amid surging demand for workflow automation. ServiceNow also raised its full-year outlook, predicting full-year subscription revenue of $10.575 billion to $10.585 billion, beating analysts’ expectations of $10.565 billion, according to LSEG. The company also announced that Chief Operating Officer CJ Desai will step down amid an ongoing investigation into the hiring of a former U.S. Army official. Molina Healthcare — The managed care company rose 10%. Molina reaffirmed its full-year adjusted earnings guidance of at least $23.50 per share, beating the consensus estimate of $23.09 per share, according to FactSet. Second-quarter results also beat expectations on sales and profits. Align Technology — The Invisalign clear aligner maker fell about 6% after it issued guidance and quarterly revenue that fell short of analysts’ expectations. Second-quarter adjusted earnings were $2.41 per share, compared with $2.30 per share expected by analysts surveyed by LSEG. Revenues of $1.03 billion for the quarter were slightly below the consensus estimate of $1.04 billion. The company said it expects clear aligner volume and systems and services revenue to decline due to seasonality in the third quarter. Edwards Lifesciences — Missed expected guidance by more than 23%, sending shares lower. Second-quarter adjusted earnings were 70 cents per share, just 1 cent above Street expectations, according to LSEG. The company expects third-quarter revenue of $1.56 billion to $1.64 billion, while analysts were expecting $1.62 billion. Chipotle — Shares of the fast-casual chain rose about 2%. Chipotle beat earnings and revenue expectations as foot traffic at its stores increased. Profits also rose year over year, driven by price increases that helped offset some of the costs. For the quarter, Chipotle reported adjusted earnings per share of 34 cents on revenue of $2.97 billion, while analysts surveyed by LSEG had expected 32 cents per share on revenue of $2.94 billion. Ford Motor Co. — The automaker’s shares plunged 13% after a lengthy warranty issue caused second-quarter profits to fall short of analysts’ expectations. Ford reported adjusted earnings per share of 47 cents, well below the consensus estimate of 68 cents, according to LSEG. Auto revenues of $44.81 billion were slightly above expectations of $44.02 billion. Viking Therapeutics Inc. — Shares rose more than 14% after the drug development company said it was moving its experimental obesity drug VK2735 into Phase 3 clinical trials. The drug reduced body weight by 15 percent after 13 weeks of treatment. The company said an oral version of the drug will begin Phase 2 trials in the fourth quarter. CNBC’s Yun Lee, Jesse Pound, Christina Cheddar-Burke and Fred Imbert contributed to this report.
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