Check out the companies making headlines before the market opens. Tesla – Shares of the electric car maker soared nearly 13% on better-than-expected third-quarter profits. The company’s chief executive, Elon Musk, said he expects car sales to grow by 20% to 30% next year. United Parcel Service — Shares of the package delivery company rose more than 7% after the company beat third-quarter profit and revenue estimates. In the period, UPS earned $1.76 per share on revenue of $22.25 billion, beating LSEG’s consensus estimates of $1.63 per share and $22.14 billion. Lam Research – Shares of Lam Research rose more than 6% after the semiconductor equipment maker reported first-quarter earnings that beat Wall Street expectations. The company reported earnings of 86 cents a share on revenue of $4.16 billion, beating the London Stock Exchange Group (LSEG) consensus estimate of 80 cents a share on revenue of $4.05 billion. Seadrill – Shares of Seadrill rose more than 9% after Bloomberg News reported that the company is in merger talks with rival Transocean, citing people familiar with the matter. According to Bloomberg sources, the deal has not yet been finalized and the two companies may choose to remain independent. Newmont – Shares of Newmont fell more than 4% after the company reported third-quarter profit that missed expectations. Newmont reported earnings per share excluding items of 81 cents on revenue of $4.61 billion. Analysts polled by FactSet expected earnings of 86 cents per share on revenue of $4.67 billion. QuantumScape – Shares of QuantumScape soared more than 17% after the company’s third-quarter results met expectations. The lithium battery maker lost 23 cents per share. T-Mobile – Shares of T-Mobile rose more than 2% after the company reported better-than-expected third-quarter results. T-Mobile earned $2.61 per share on revenue of $20.16 billion. Analysts polled by FactSet expected Boeing to earn $2.43 a share on revenue of $20.01 billion – shares falling 3.7% after Boeing machinists rejected a new labor deal, extending a five-week strike. Mattel – The toy maker gained 2.1% despite mixed third-quarter results. Mattel earned $1.14 per share, excluding items, beating the LSEG consensus forecast of 95 cents per share. However, the company reported revenue of $1.84 billion for the quarter, slightly below Wall Street expectations of $1.86 billion. Honeywell – Shares of Honeywell fell about 2% after the company’s third-quarter revenue missed expectations. Honeywell reported revenue of $9.73 billion, missing consensus estimates of $9.91 billion, according to FactSet. However, earnings were better than expected. Northrop Grumman – Shares of Northrop Grumman rose 1% after the defense company reported third-quarter earnings of $7 per share, beating the consensus estimate of $6.07 per share among analysts polled by LSEG. On the other hand, revenue for the quarter came in at $10 billion, although analysts expected $10.18 billion in revenue for the quarter. Southwest Airlines – Shares rose 1% after the airline reported third-quarter earnings. Adjusted earnings per share totaled 15 cents, while analysts polled by FactSet expected the company to break even. Revenue was $6.87 billion, above expectations of $6.47 billion. Southwest also said it expected revenue to increase in the fourth quarter. Molina Healthcare – The managed care company beat analysts’ expectations in its most recent quarter, sending its shares soaring 10%. Molina Healthcare reported adjusted earnings of $6.01 per share, beating the LSEG consensus estimate of $5.81 per share. Revenue was $10.34 billion, beating expectations of $9.91 billion. IBM — Shares of IBM fell more than 3% after the company’s third-quarter revenue missed expectations. IBM reported earnings of $14.97 billion, below the FactSet estimate of $15.06 billion. Whirlpool – Shares of Whirlpool rose 4% after the appliance company beat third-quarter earnings estimates. Whirlpool reported earnings of $3.43 per share, above the $3.20 per share expected by analysts polled by FactSet. American Airlines – Shares of American Airlines fell more than 3% despite the airline’s third-quarter results beating Wall Street expectations. American Airlines also raised its full-year forecast after a shift in sales strategy. CEO Robert Isom said in the earnings report: “We have taken aggressive actions to realign our sales and distribution strategies and regain the attention of the business travel community, and we believe that over time, This will improve our revenue performance. —CNBC’s Alex Harring, Sarah Min and Michelle Fox Theobald contributed reporting.
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