Take a look at some of the biggest movers in the premarket:
Verizon (VZ) – Verizon beat estimates by 3 cents a share, with quarterly earnings of $1.25 per share. Revenue was essentially in line with forecasts. Verizon also increased the bottom end of its full-year earnings guidance, and added more phone subscribers than analysts had anticipated. Shares were slightly higher in premarket trading as of 7:45 a.m. ET.
AutoNation (AN) – The auto retailer reported quarterly earnings of $2.38 per share, well above the $1.65 a share consensus estimate. Revenue was also above forecasts and AutoNation increased its share repurchase authorization to $500 million. Shares jumped 8% in premarket trading as of 7:45 a.m. ET.
Thermo Fisher Scientific (TMO) – The life sciences and lab products company earned $5.63 per share for its latest quarter, beating the consensus estimate of $4.31 a share. Revenue also came in above forecasts, helped by strong growth in analytical instruments and specialty diagnostics. Shares added 1.7% in premarket trading as of 7:45 a.m. ET.
Winnebago (WGO) – The recreational vehicle maker earned $1.45 per share for its latest quarter, beating the 93 cents a share consensus estimate. Revenue was above forecasts as well. The company said it was encouraged by improving outdoor recreation trends. Shares added 1.6% in premarket trading as of 7:45 a.m. ET.
Avery Dennison (AVY) – The maker of labeling products earned $1.91 per share for its third quarter, compared to a consensus estimate of $1.53 a share. Revenue was slightly above forecasts, and the company also announced a 7% dividend increase. Shares rose 1.2% in premarket trading as of 7:45 a.m. ET.
Nasdaq (NDAQ) – The exchange operator beat estimates by 7 cents a share, with quarterly earnings of $1.53 per share. Revenue also beat Wall Street’s predictions, helped by a jump in trading volume as well as growth in non-trading businesses. Shares added 1.2% in premarket trading as of 7:45 a.m. ET.
Netflix (NFLX) – Netflix reported quarterly earnings of $1.74 per share for its latest quarter, missing the consensus estimate of $2.14 a share. Revenue was above Wall Street forecasts, however. In addition to the earnings miss, Netflix shares are also being pressured by the weakest subscriber growth in four years. The stock lost 5% in premarket trading as of 7:45 a.m. ET.
Texas Instruments (TXN) – Texas Instruments beat estimates by 17 cents a share, with quarterly profit of $1.45 per share. The chipmaker’s revenue also topped analysts’ projections and Texas Instruments reported its first quarterly revenue growth in nearly two years, helped by growing demand for electronic gadgets by homebound consumers. Shares were slightly higher in premarket trading as of 7:45 a.m. ET.
Snap (SNAP) – Snap reported a profit of 1 cent per share, compared to analysts’ predictions of a 5 cents per share loss. The Snapchat parent’s revenue also beat estimates, with stronger-than-expected user growth as more people signed up to use the service amid the pandemic. Snap shares surged 22% in premarket trading as of 7:45 a.m. ET.
Eli Lilly (LLY) – Lilly hired an outside advisor to review a plant that had been cited for a variety of issues by the Food and Drug Administration. The plant had been producing the drugmaker’s experimental C-19 treatment.
PNM Resources (PNM) – PNM agreed to be bought by Spanish energy firm Iberdrola, which will combine the New Mexico and Texas utility company with its U.S. unit Avangrid (AGR). PNM shareholders will receive $50.30 per share, a 10% premium to yesterday’s closing price, with the deal worth a total of $4.3 billion excluding debt.
Walt Disney (DIS) – Disney said updated California state guidelines will keep its Disneyland theme park shut for the foreseeable future. That came after California officials said theme parks with a visitor capacity of 15,000 or more cannot reopen until a county’s Covid-19 risk level drops to the lowest tier.
AstraZeneca (AZN) – AstraZeneca expects to resume its Covid-19 vaccine trial in the United States as soon as this week, according to sources who spoke to Reuters. The trial was halted on Sept. 6 while officials reviewed an illness experienced by a study participant.
Tenet Healthcare (THC) – Tenet reported quarterly profit of 64 cents per share, more than double the 31 cents a share consensus estimate. The hospital operator’s revenue also beat estimates, aided by increased treatment of Covid-19 patients as well as a resumption of elective procedures.
iRobot (IRBT) – iRobot reported quarterly profit of $2.58 per share, well above the $1.00 a share consensus estimate. Revenue came in above estimates as well, helped by strong demand for the company’s Roomba robotic vacuum cleaners.
WD-40 (WDFC) – WD-40 beat estimates by 29 cents a share, with quarterly earnings of $1.42 per share. The lubricant maker’s revenue also exceeded forecasts. Strong product demand was spurred by “isolation renovation,” according to CEO Garry Ridge, with consumers snapping up products linked to renovations while stuck at home during the pandemic.
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