Check out the companies making headlines in pre-market trading. Eli Lilly — Shares fell 7.5% after the drugmaker missed analysts’ expectations in the third quarter and lowered its full-year guidance. Eli Lilly earned $1.18 per share (excluding items) on revenue of $11.44 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.47 per share on revenue of $12.11 billion. Caterpillar – Shares of Caterpillar fell more than 5% in premarket after the industrial giant reported lower-than-expected third-quarter profit. The company reported profit of $5.17 per share, while analysts polled by LSEG forecast earnings of $5.34 per share. Revenue also fell 4% from the same period last year to $16.11 billion. XPO — The logistics company’s shares rose 3.9% in the third quarter, beating Wall Street expectations. XPO earned $1.02 per share (excluding other items). Analysts polled by FactSet estimated earnings of just 90 cents per share. Revenue for the three months was $2.05 billion, slightly above expectations of $2.02 billion. VinFast Auto — Shares of VinFast Auto rose 5.1% after the electric car maker announced strategic partnerships with four Middle Eastern groups. Bloomberg reports that Emirates Driving, one of the four organizations, will lead the financing for VinFast, with the total investment expected to exceed US$1 billion. Chipotle — Shares of Chipotle fell about 6% after the fast-casual chain reported lower-than-expected third-quarter revenue. Same-store sales, a key metric for restaurants, also failed to grow 6%. Analysts polled by StreetAccount expected growth of 6.3%. Alphabet — Shares of the search giant rose nearly 7% after strong third-quarter earnings beat Wall Street forecasts for revenue and profit. Google’s parent company also reported strong cloud revenue growth, up about 35% from the same period last year. Snap — Shares of Snap rose 10.5% after the social media platform beat profit expectations and announced a $500 million stock buyback plan. Snap reported third-quarter adjusted earnings of 8 cents per share on revenue of $1.37 billion, while analysts polled by LSEG forecast 5 cents and $1.36 billion, respectively. Qorvo — Semiconductor solutions shares fell 19.5% as weak profit guidance for the quarter clouded a better-than-expected fiscal second-quarter report. Following the report, Raymond James downgraded its rating to market perform from market outperform and removed its price target. Visa — The global payments company’s fiscal fourth-quarter quarterly results beat Wall Street expectations, sending shares up about 2%. Visa reported adjusted earnings of $2.71 per share on revenue of $9.62 billion. That was above expectations of $2.58 a share and revenue of $9.49 billion, according to analysts polled by London Stock Exchange Group (LSEG). Additionally, the company raised its quarterly dividend by 13% to 59 cents. Advanced Micro Devices — Shares of the semiconductor company fell 8%. AMD said after the market closed on Tuesday that it expected fourth-quarter revenue of $7.5 billion, in line with LSEG’s consensus estimate and a 22% year-over-year decrease. Adjusted third-quarter earnings per share were in line with expectations, while revenue topped expectations. Reddit — The social media stock soared 22% after a better-than-expected third-quarter report showed an unexpected turnaround. Reddit reported earnings of 16 cents per share on revenue of $348.4 million. Analysts polled by LSEG expected a loss of 7 cents per share on revenue of $312.8 million. Reddit also said that fourth-quarter revenue may be between US$385 million and US$400 million, higher than the expected US$357.9 million. First Solar — Shares of First Solar fell 7% after the solar equipment supplier reported third-quarter profit and revenue that fell short of expectations and lowered its full-year guidance. First Solar reported earnings of $2.91 per share on revenue of $887.7 million. Analysts polled by FactSet expected earnings of $3.16 per share and revenue of $1.08 billion. —CNBC’s Jesse Pound, Sarah Min, Sean Conlon, Michelle Fox, Samantha Subin and Fred Imbert contributed reporting.
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