Boeing, Hilton, Harley-Davidson and others
Check out the companies making headlines before the bell:
Boeing (BA) – Boeing added 1% in the premarket in spite of reporting an unexpected quarterly loss and revenue that fell below Street forecasts. The jet maker maintained its yearly cash flow forecast despite difficulties in elevating commercial jet production.
Hilton Worldwide (HLT) – Hilton added 2% in the premarket after reporting better-than-expected quarterly earnings and raising its full-year forecast. The hotel operator continues to benefit from strong travel demand.
Harley-Davidson (HOG) – Higher shipments and strong pricing helped the iconic motorcycle maker beat top and bottom line estimates with its quarterly results. Harley shares gained 2.5% in premarket trading.
Waste Management (WM) – Waste Management shares jumped 3% in premarket action after reporting better-than-expected quarterly earnings. The company said it benefited from continued strength in its trash collection business and successful cost controls.
Kraft Heinz (KHC) – The food producer’s shares rallied 3.2% following its quarterly results, which saw it beat top and bottom line estimates as it successfully raised prices. That helped offset reduced demand.
Alphabet (GOOGL) – Alphabet slumped 6% in the premarket after it reported lower-than-expected quarterly profit and revenue. Alphabet’s Google unit saw its fifth consecutive quarter of slower sales growth, and its YouTube operation saw ad revenue drop for the first time since the company began breaking out the unit’s results.
Microsoft (MSFT) – Microsoft took a 6.5% premarket hit following its quarterly results despite beats on both its top and bottom lines. Microsoft expects a significant decline in personal computer sales, which will in turn continue to hit sales of its Windows operating system. The company also forecast an impact from a stronger U.S. dollar.
Visa (V) – Visa reported better-than-expected profit and revenue for the third quarter as payment volumes jumped. Visa shares gained 1.8% in the premarket.
Spotify (SPOT) – Spotify shares slid 6.2% in premarket action after the streaming service posted a wider-than-expected loss. Spotify’s revenue came in slightly above analyst forecasts and its monthly active user total exceeded estimates.
Mobileye (MBLY) – Mobileye priced its initial public offering at $21 per share, above the expected range of $18 to $20. Chipmaker Intel (INTC), which bought the self-driving car systems maker in 2017 for $15.3 billion, will maintain voting control.
Mattel (MAT) – Mattel slid 5.5% in premarket trading after the toy maker cut its full-year profit forecast. It plans to increase holiday season promotions to offset inflation-induced consumer reluctance. Mattel reported a better-than-expected profit for its latest quarter, with revenue falling slightly shy of analyst forecasts.