American Express, Verizon, Schlumberger and more

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Check out the companies making headlines before the bell:

American Express (AXP) – American Express rose 4.5% in the pre-market after beating estimates for revenue and net income for the second quarter. Cardholders saw record spending, driven by a rebound in travel and entertainment.

Verizon (VZ) – Verizon fell 4.4% premarket after quarterly adjusted earnings fell short of estimates and the company cut its full-year guidance. Verizon sees the growth of its telephone subscribers impacted by the increase in prices.

Schlumberger (SLB) – The oil services company reported better-than-expected second-quarter earnings and revenue and raised its outlook for the full year. Schlumberger is benefiting from increased demand for its services amid higher oil prices. Its stock added 2.3% in premarket trading.

HCA Healthcare (HCA) – HCA jumped 11.4% in the pre-market after beating earnings estimates for its latest quarter. The hospital operator’s better-than-expected results came despite labor market challenges and inflation.

Cleveland-Cliffs (CLF) – The mining company’s stock fell 5.3% in premarket stock after its latest quarterly earnings fell short of Street forecasts, although revenue beat consensus estimates. Cleveland-Cliffs noted its exposure to the automotive sector, where supply chain issues have limited production, and said it expects to benefit as those issues resolve.

Snap (SNAP) – Snap fell 30.3% in premarket after Snapchat’s parent company reported a bigger-than-expected quarterly loss and its slowest sales growth since its IPO. He also said current quarter sales are poised to stagnate from a year ago amid tougher economic conditions and growing competition for digital advertising dollars.

Mattel (MAT) – Mattel fell 1% in premarket trading despite a better-than-expected quarterly performance and strong movie-themed toy sales. However, sales of its American Girl brand fell nearly 20% in the quarter.

Seagate Technology (STX) – Seagate Technology fell 11.8% in premarket stock trading after the hard drive maker missed quarterly estimates on higher and lower results. It also released a weaker-than-expected forecast as demand declines for products such as personal computers.

Tenet Healthcare (THC) – The hospital operator nearly doubled the consensus estimate of 82 cents with adjusted quarterly earnings of $1.50 per share. Tenet said it was able to navigate through tough market conditions as well as a cyberattack. Its stock jumped 10.9% premarket.

Intuitive Surgical (ISRG) – Intuitive Surgical missed estimates on top and bottom results for its latest quarter as investments for its Da Vinci robotic surgical systems fell. The company said Covid resurgences are impacting the number of procedures performed with the system, and its shares fell 12.1% in premarket trading.

Boston Beer (SAM) – Boston Beer suffered a 9.6% premarket decline after reporting below-expected earnings for its latest quarter and slashing its full-year guidance. Declining demand for his Truly hard seltzer brand continues to impact beer brewer Sam Adams’ overall performance.

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