Check out the companies making headlines before the market opens. Procter & Gamble — Shares fell 0.8% after reporting weaker-than-expected revenue. The home furnishings maker posted revenue of $21.74 billion, while analysts polled by LSEG estimated revenue of $21.91 billion. The company blamed the blunder on falling demand in China. Adjusted earnings per share were $1.93, above expectations of $1.90 per share. Netflix – The streaming giant’s third-quarter results beat Wall Street expectations, sending its shares up 6.3%. Netflix reported earnings of $5.40 per share on revenue of $9.83 billion, while analysts polled by LSEG forecast earnings of $5.12 per share on revenue of $9.77 billion. The company’s ad-supported membership levels also grew 34% from the previous quarter. CVS Health – Shares of CVS Health fell 11% after the drugstore chain announced that longtime executive David Joyner would replace Karen Lynch as CEO. CVS also forecast third-quarter adjusted earnings per share between $1.05 and $1.10, below the $1.69 per share expected by analysts polled by Fact Set. WD-40 — The maintenance products maker’s stock fell 4% after a disappointing fourth-quarter earnings report. The company reported earnings of $1.23 per share, compared with the FactSet consensus forecast of $1.34 per share. Full-year profit guidance of $5.20 to $5.45 per share was also below expectations of $5.69 per share. Western Alliance Bancorp — Shares of Western Alliance Bancorp fell more than 4%. Although revenue reached $823 million, higher than LSEG analysts’ forecast of $808 million, net interest income fell 3% in the third quarter. American Express — Shares of the credit card company fell 3.4% on a mixed earnings report. Revenue was $16.64 billion, below the LSEG consensus forecast of $16.67 billion. However, earnings of $3.49 per share topped estimates of $3.28. Apple — Shares of the technology giant rose 2% after Bloomberg reported that iPhone sales in China increased 20% year over year in the first three weeks. Coherent — The semiconductor materials stock fell more than 5% after B.Riley downgraded the stock to neutral from buy, citing limited upside potential after a 142% surge in 2024. The stock fell 1.7% from estimates after revenue missed expectations. Revenue was $9.16 billion, below the LSEG consensus forecast of $9.25 billion. On the other hand, adjusted earnings per share were 89 cents, beating expectations of 88 cents per share. Intuitive Surgical — Shares of Intuitive Surgical rose more than 6% after the maker of the da Vinci surgical robot reported third-quarter revenue and profit. Intuitive Surgical earned $1.84 per share on revenue of $2.04 billion, while analysts polled by LSEG expected earnings of $1.63 per share on revenue of $2.0 billion. Ally Financial – Shares of the digital bank fell nearly 1% despite third-quarter profit beating analysts’ expectations. The company announced adjusted earnings of 95 cents per share on revenue of $2.1 billion. Analysts polled by FactSet expected earnings of 52 cents per share on revenue of $2.03 billion. Crown Holdings — Shares of Crown Holdings rose more than 4% after the consumer packaged goods company raised its full-year guidance. Crown Holdings expects adjusted earnings per share to be in a range of $6.25 to $6.35. Analysts had expected earnings of $6.15 per share, according to FactSet. Third-quarter adjusted earnings beat expectations, while revenue met expectations. Comerica — The mid-sized bank reported a stronger-than-expected third-quarter report, sending its shares up nearly 1%. Comerica earned $1.33 per share on revenue of $534 million, while analysts expected earnings of $1.17 per share on revenue of $527.9 million, according to FactSet. The bank’s net profit fell annually. — CNBC’s Pia Singh, Sarah Min, Jesse Pound, Michelle Fox contributed
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved