See which businesses are in the news before the bell rings.
VF Corp: After the North Face and JanSport parent company reported better-than-expected quarterly results, its shares surged by about 20%. With $2.76 billion in revenue during the second quarter of its fiscal year.
Ford Motors: Although the automaker slightly exceeded analysts’ third-quarter expectations, its shares fell 7% after it guided to the low end of its previously announced full-year earnings guidance.
Cadence Design Systems: The stock surged more than 5% after the electronic design company’s third-quarter earnings exceeded Wall Street estimates.
Following better-than-expected results, F5’s stock jumped more than 10%. For the fourth fiscal quarter, F5 reported $3.67 adjusted earnings per share on revenue of $747 million, estimates of $3.45 earnings per share on $731 million in revenue for the same period.
BP: Shares fell more than 2% after the British oil giant reported its lowest quarterly results in nearly four years, including an underlying replacement cost profit of $2.3 billion for the third quarter.
McDonald’s: In the third quarter, the fast food business reversed a dip in same-store sales and generated revenue and profitability that exceeded analyst projections. Nonetheless, shares experienced a premarket decline of over 2%.
Pfizer: After the vaccine manufacturer exceeded Street forecasts and revised its guidance, citing revenue growth from Covid-related products, shares rose 1.3%. Pfizer reported $1.06 per share in adjusted earnings on $17.7 billion in sales.
Shares of Trex increased 7% as the composite deck manufacturer exceeded Street forecasts. Compared to the 32 cents analysts surveyed by FactSet anticipated.
Boot Barn: The western clothing retailer’s shares dropped over 7% after its second-quarter earnings, which were predicted to be 95 cents per share.
Crypto stocks: As bitcoin crossed $70,000 for the first time since June, equities that are correlated with its price increased during premarket trading. Coinbase, a cryptocurrency exchange operator, saw a 3% increase. MicroStrategy, a Bitcoin proxy, saw a 5% increase after ending Monday at its highest level since March 2000.
JetBlue’s stock fell 7% after the airline reported declining revenue for the fourth quarter. JetBlue stated that it anticipates fourth-quarter revenue to drop between 3% to 7% year over year.
D.R. Horton: Following the homebuilder’s dismal fourth-quarter earnings, the stock fell 10%. Profits were $3.92 per share, which was less than the $4.17 per share that LSEG’s poll of experts had predicted. $10 billion in revenue was less than the consensus expectation of $10.22 billion.
Robinhood Markets: Following market closure on Wednesday, shares increased by over 1% as Mizuho raised its price target on the financial services platform in anticipation of the company’s third-quarter earnings results.
PayPal: Following the release of third-quarter revenue that fell short of forecasts, the company’s shares dropped 3%. The $7.85 billion in revenue was less than the $7.88 billion that FactSet’s poll.
Source (CNBC)
