Take a look at the companies that appear in the headlines before the bell:
American Express (AXP) – American Express rose 1.2% in overseas sales after better-than-expected earnings and revenue for the first quarter. Amex reported earnings of $ 2.73 per share, compared to a consensus estimate of $ 2.44, supported by increased spending by Millennium and Gen-X users, as well as small and medium-sized businesses.
Verizon (VZ) – Verizon won an adjusted $ 1.35 per share for the first quarter, matching forecasts, with earnings also essentially consistent. Verizon lost 36,000 phone subscribers in the quarter, less than the 49,300 losses expected by analysts surveyed by FactSet. Verizon fell 1.4% in pre-market trading.
Kimberly-Clark (KMB) – Shares of the consumer goods company jumped 3.8% on the market after reporting better-than-expected quarterly earnings and revenue. Kimberly-Clark said she was able to cope with an “volatile and inflationary” environment and raised her forecast for organic sales for the full year.
Cleveland-Cliffs (CLF) – Shares of the steelmaker and mining company rose 3.5% in pre-market trading after surpassing the above and final estimates for the first quarter. Cleveland-Cliffs also raised its forecast for the average selling price for the whole year.
Schlumberger (SLB) – The oil producer surpassed estimates by one penny with an adjusted quarterly earnings of 34 cents per share, and revenue also exceeded Wall Street forecasts. Schlumberger also increased its dividend by 40%, with shares adding 1.1% before market action.
Snap (SNAP) – Snap lost an adjusted 2 cents per share for its last quarter compared to the consensus earnings forecast of 1 cent per share for the social media company. He also issued a conservative forecast for sales growth for the current quarter, and shares fell 1.1% in pre-market trading.
Gap (GPS) – Gap has reduced its sales growth prospects amid growing competition and more promotions. The company also announced that Old Navy President and CEO Nancy Green is leaving. Shares of Gap fell 14.8% in preliminary markets.
Anheuser-Busch InBev (BUD) – AB InBev will sell its stake in the Russian joint venture and will incur a $ 1.1 billion impairment fee as a result. The beer brewer halted sales of his Budweiser brand in Russia last month after Russia’s invasion of Ukraine. AB InBev decreased by 1.8% before market action.
SAP (SAP) – Shares of SAP fell 4.1% in pre-market trading after the German business software company said it would incur revenues of $ 300 million due to its exit from the Russian market.
Boston Beer (SAM) – Boston Beer reported a quarterly loss of 16 cents per share, compared to analysts’ expected earnings of $ 1.97 per share. The brewery’s revenue missed estimates as deliveries fell by more than 25% from a year earlier and gross margins also fell. Shares fell 3.2% on the preliminary market.
Add Comment