Take a look at the businesses making headlines earlier than the bell:
Chevron (CVX) – Chevron gained 2.1% within the premarket after posting its highest quarterly revenue in 8 years amid surging vitality costs. Chevron earned an adjusted $2.96 per share for the third quarter, beating the $2.21 consensus estimate, with income additionally beating Wall Road forecasts.
Exxon Mobil (XOM) – Exxon exceeded estimates by 2 cents with adjusted quarterly earnings of $1.58 per share, although income got here in under analyst forecasts. Exxon was helped by stronger demand and increased costs, amongst different elements, and its revenue was its highest in 4 years. Exxon added 1.5% in premarket buying and selling.
Newell Brands (NWL) – The corporate behind client product manufacturers like Rubbermaid, Sunbeam and Sharpie earned an adjusted 54 cents per share for the third quarter, 4 cents above estimates, with income barely above forecasts. It additionally raised its full-year outlook regardless of provide chain and inflation points, and its inventory added 2% in premarket motion.
Colgate-Palmolive (CL) – The private care merchandise firm beat estimates by 2 cents with adjusted quarterly earnings of 81 cents per share and income additionally beating analyst predictions. Like many different firms, Colgate stated it confronted increased prices for uncooked supplies and logistics.
Momentive World (MNTV) – The dad or mum of SurveyMonkey agreed to be purchased by customer support platform operator Zendesk (ZEN) for $4.13 billion in inventory. Zendesk tumbled 18.5% within the premarket, whereas Momentive World misplaced 5.7%.
Apple (AAPL) – Apple matched estimates with quarterly earnings of $1.24 per share, however income fell under analyst forecasts for the primary time since 2016. Provide chain points impacted the manufacturing of iPhones and different Apple merchandise, and the inventory fell 3.6% within the premarket.
Amazon.com (AMZN) – Amazon earned $6.12 per share for the third quarter, nicely under the $8.92 consensus estimate, with income additionally falling under forecasts. Like Apple, Amazon cited provide chain points and additionally pointed to labor shortages, and Amazon shares slid 4.5% in premarket buying and selling.
Starbucks (SBUX) – Starbucks beat estimates by a penny with an adjusted quarterly revenue of $1.00 per share, however the espresso chain’s income and world comparable-store gross sales fell wanting Wall Road forecasts. Starbucks noticed a very unfavourable influence on its outcomes from a resurgence of Covid-19 in the important thing China market. Starbucks slumped 5.2% in premarket motion.
Gilead Sciences (GILD) – Gilead earned an adjusted $2.65 per share for its newest quarter, surpassing the $1.75 consensus estimate, whereas the drugmaker’s income exceeded forecasts by a snug margin. Gilead noticed sturdy demand for its antiviral Covid-19 therapy remdesivir, however stated full-year gross sales of its non-Covid medicine will not attain earlier estimates and its inventory misplaced 1.7% within the premarket.
U.S. Metal (X) – U.S. Metal surged 9.2% in premarket buying and selling after it reported an adjusted quarterly revenue of $5.36 per share, in contrast with a $4.85 consensus estimate. Income additionally got here in above analyst projections as metal shipments surged, whereas U.S. Metal additionally raised its quarterly dividend to five cents per share from 1 cent, and introduced a $300 million inventory buyback.
Western Digital (WDC) – The disk drive maker tumbled 11.2% in premarket buying and selling after the corporate supplied weaker-than-expected current-quarter monetary steering. Western Digital, like different tech firms, is being hit by provide chain points, though it did beat estimates by 4 cents with an adjusted quarterly revenue of $2.49 per share.