Market Insider | Biggest Moves Premarket: Stocks making the biggest moves premarket: Boeing, Caterpillar, Blackstone, Eli Lilly, Nike & more
Boeing – The jet maker earned an adjusted $1.45 per share for the third quarter, well below the consensus estimate of $2.09 a share. Revenue was slightly above Wall Street forecasts. Boeing continues to target a fourth-quarter return to service for the 737 Max, even though most airlines have cut Max flights from their schedule until early 2020.
Caterpillar – The heavy equipment maker missed estimates by 22 cents a share, with an adjusted quarterly profit of $2.66 per share. Revenue also missed expectations and Caterpillar cut its full-year outlook as its results are impacted by weak demand in construction and mining equipment.
Blackstone – The private-equity firm reported distributable earnings per share of 58 cents per share, 5 cents a share above estimates. Revenue came in above analysts’ forecasts, as well. Fee-related earnings were up 27% from a year ago, and assets under management grew by 21%.
Eli Lilly – The drugmaker earned an adjusted $1.48 per share for the third quarter, 7 cents a share above estimates, helped by strong sales of diabetes drug Humalog. Revenue came in slightly below Street forecasts, however.
Hilton Worldwide – The hotel operator reported adjusted quarterly earnings of $1.05 per share, 3 cents a share above forecasts. Revenue also topped estimates and Hilton raised its full-year earnings forecast but narrowed its forecast for revenue per available room.
Anthem – The health insurer came in 5 cents a share above estimates, with adjusted quarterly profit of $4.87 per share. Revenue also beat forecasts. Anthem said its full-year earnings will top $19.40 per share, compared to a consensus estimate of $19.35 a share as sales of its government-backed health plans rise.
Nike – Nike Chairman and CEO Mark Parker will step down in January and take the role of executive chairman. Parker will be replaced by ServiceNow CEO John Donahoe, who is currently on the athletic footwear and apparel maker’s board of directors. ServiceNow will replace Donahoe with former SAP CEO Bill McDermott.
Chipotle Mexican Grill – Chipotle reported adjusted quarterly earnings of $3.82 per share, beating the consensus estimate of $3.22 a share. The restaurant chain’s revenue was also above Street forecasts, with comparable sales up 11% during the quarter and digital sales soaring nearly 88%.
Texas Instruments – Texas Instruments beat estimates by 7 cents a share, with quarterly profit of $1.49 per share. The chip maker’s revenue came in below analysts’ forecasts, however, and the company gave a weaker-than-expected revenue forecast amid a slump in industry demand.
Six Flags – Six Flags came in 20 cents a share below forecasts, with quarterly earnings of $2.11 per share. The amusement park operator’s revenue fell short, as well, despite a 3% increase in park attendance.
Snap – Snap lost 4 cents per share for its latest quarter, a penny a share less than Wall Street had been anticipating. The Snapchat parent’s revenue came in above analysts’ forecasts, as did the average revenue per user.
Whirlpool – Whirlpool earned an adjusted $3.97 per share for the third quarter, 8 cents a share above estimates. The appliance maker’s revenue fell short amid lower sales in Latin America.
Amazon.com – Amazon announced the expansion of its “Counter” program, which gives customers the option of picking up packages in-store at staffed locations.
Netflix – Netflix raised $2.2 billion in a sale of junk-rated bonds. The video streaming service plans to use some of that revenue to invest in new content amid intensifying competition.
iRobot – iRobot earned $1.24 per share for the third quarter, well above the consensus estimate of 52 cents, and the Roomba vacuum cleaner maker’s revenue exceeded forecasts as well. However, the stock Is being pressured by a weaker than expected holiday season outlook, with the company pointing to US tariffs on its vacuums among other factors.
Alphabet – Alphabet’s Google unit will reportedly be at the center of a meeting of state attorneys general in Colorado next month, according to Reuters. The meeting is said to center around an antitrust probe.