Look at the firms that are generating news in the premarket trade.
Hasbro: The toy company’s third-quarter financial performance came in lower than anticipated, sending shares down 9.2%. Excluding adjustments, Hasbro’s revenue of $1.5 billion generated $1.64 per share of earnings, compared to the $1.70 per share that LSEG’s poll of analysts predicted for earnings and revenue at $1.64 billion.
Squibb-Myers Bristol-Myers Premarket trading for the pharmaceutical business saw a 4% drop in shares after it revealed a drop in sales of its well-known blood cancer treatment Revlimid, citing competition from generic versions. While reporting revenue that was in line with forecasts, Bristol-Myers exceeded earnings projections.
Southwest – After third-quarter revenue disappointed Wall Street, the airline saw a 3.3% decline. In contrast to LSEG’s survey of analysts, Southwest reported $6.53 billion in revenue. The business reported that its earnings per share met forecasts and that, as demand levelled down, it would reduce capacity growth in 2024.
Hershey: The maker of candies and snacks had a 2.7% increase in shares following the release of a solid third-quarter earnings report. With $3.03 billion in revenue, Hershey made $2.60 per share, excluding items. In a study conducted by LSEG, analysts projected $2.95 billion in revenue and $2.45 in earnings per share. For both lines, the business maintained its full-year projections.
Shares of Royal Caribbean increased 1.7% after the company topped third-quarter projections on both metrics. Analysts surveyed by LSEG predicted $3.46 in earnings per share on revenue of $4.08 billion, but the cruise line reported earnings of $3.85 per share, excluding items, and revenue of $4.16 billion.
Go to Overstock.com. A lower-than-expected revenue stream caused the e-commerce brand to fall 3.3%. In the third quarter, Overstock.com brought in $373.3 million, a lot less than the $396 million analysts polled by FactSet had anticipated.
UPS: Following its third quarter earnings announcement, the transportation company’s shares witnessed a premarket decrease of 3%. In contrast to FactSet’s forecasts of $1.52, UPS reported earnings per share for the period of $1.57. $21.18 billion in revenue as opposed to $21.4 billion predicted.
Metadata Bases — Amidst better-than-expected third-quarter performance, the parent company of Facebook and Instagram saw a nearly 4% decline after announcing declining advertising revenue for this quarter.
SupportNow — With better-than-expected quarterly earnings and good prospects for subscription revenue for the current term, the software stock increased by more than 3%. Despite revenue of $2.29 billion, ServiceNow reported earnings per share of $2.92.
Source (CNBC)
