Examining the companies in the spotlight in premarket activity, Hasbro plunged 9.2% following a 3rd quarter financial report that failed to meet analysts' projections. EPS at $1.64 missed the predicted $1.70 and revenue of $1.5 billion was less than the expected $1.64 billion. Southwest Airlines dipped 3.3% when revenue for Q3 showed a shortfall versus analysts' predictions. Although the $6.53 billion exceeded estimates of $6.57 billion, the airline announced plans to gradually grow capacity in 2024. Bristol-Myers Squibb dropped 4%, as sales of its drug Revlimid declined due to generic competition, even though the company beat EPS expectations and revenue was on target. Overstock.com fell 3.3% as revenue of $373.3 million missed the consensus of $396 million. Hershey climbed 2.7% following an impressive 3rd quarter performance, with EPS of $2.60 (higher than the expected $2.45) and revenue of $3.03 billion (over the predicted $2.95 billion). Royal Caribbean gained 1.7% after beating estimates for both lines in its Q3 report, with EPS of $3.85 exceeding forecasts of $3.46 and revenue of $4.16 billion surpassing expectations of $4.08 billion. Meta Platforms stumbled 4% as it warned of softening ad revenue for the current quarter, despite outperforming 3rd quarter projections. Mattel dropped 11.1% on the heels of a strong Q3 earnings show, driven in part by the successful launch of the "Barbie" movie. ServiceNow rose 3% following favorable Q3 figures, with EPS of $2.92 and revenue of $2.29 billion, with expectations for solid subscription revenue in the current term. Align tumbled 23.9% due to missing analyst estimations with $2.14 EPS (below expected $2.26) and $960 million revenue (versus anticipated $995 million) and downbeat guidance for revenue in the current quarter. Flex was up nearly 10%, following the announcement to spin off remaining interest in Nextracker and raised guidance for its FY ending March 2024 to EPS of between $2.49 and $2.66. UPS shares were down 3%, after exhibiting EPS of $1.57 (versus projected $1.52) and revenue of $21.18 billion (below the estimated $21.4 billion). Endeavor Group Holdings soared 22%, following the news that it was exploring strategic alternatives and not considering selling its interest in TKO Group Holdings. Barclays dropped 2.3%, after getting downgraded to underperform from neutral by Bank of America, and F5stock decreased 2.6% when Bank of America also downgraded shares to underperform. — CNBC's Sarah Min, Tanaya Macheel, Samantha Subin and Lisa Kailai Han provided reporting.
Kommentare