Stocks making the biggest moves in the premarket: Boeing, GE, Blackstone, First Solar & more
Take a look at some of the biggest movers in the premarket:
Boeing (BA) – Boeing lost $1.39 per share for the third quarter, smaller than the loss of $2.52 anticipated by Wall Street. Revenue was also above estimates. Boeing said it was targeting a workforce of 130,000 by the end of 2021, which is about 11,000 lower than the current total. Boeing shares were up slightly in premarket trading as of 7:40 a.m. ET.
General Electric (GE) – GE reported a third-quarter profit of 6 cents per share, compared to forecasts for a loss of 4 cents per share. Revenue came in above estimates as well. GE said it was managing through a “difficult environment” but added that it is on track with its effort to contain costs and conserve cash. GE shares rose 4% in premarket trading as of 7:40 a.m. ET.
Blackstone (BX) – The private-equity firm reported distributable earnings per share of 63 cents per share, beating the 57 cents a share consensus estimate. Revenue also topped forecasts, boosted by its emphasis on technology-related investments. The shares were up by 1% in premarket trading as of 7:40 a.m. ET.
United Parcel Service (UPS) – UPS reported quarterly earnings of $2.28 per share, compared to a consensus estimate of $1.90 a share. Revenue was above estimates as well. UPS continued to benefit from a surge in home deliveries due to the pandemic. The shares were little changed in premarket trading as of 7:40 a.m. ET.
Garmin (GRMN) – The maker of GPS and fitness products beat estimates by 59 cents a share, with quarterly earnings of $1.58 per share. Revenue also beat Wall Street forecasts. Garmin said it saw particular strength in devices for boating and outdoor activities. Garmin shares added 3% in premarket trading as of 7:40 a.m. ET.
Tupperware (TUP) – The maker of home storage products earned $1.20 per share for its latest quarter, well above the consensus estimate of 37 cents a share. Revenue was well above forecasts. Tupperware saw a sales bump from more consumers cooking and storing food at home. The shares jumped 8% in premarket trading as of 7:40 a.m. ET.
Bunge (BG) – The agriculture commodities company reported adjusted quarterly earnings of $2.47 per share, compared to a consensus estimate of 20 cents a share. Revenue came in above estimates as well. Bunge saw strong demand for oilseed processing and soy products, and the company lifted its full-year outlook. The shares rose 6% in premarket trading as of 7:40 a.m. ET.
Six Flags (SIX) – The theme park operator lost $1.37 per share for its latest quarter, wider than the $1 per share loss that analysts were expecting. Revenue came in below forecasts as well. Park attendance continues to be hurt by the pandemic, although Six Flags said attendance trends are improving.
Microsoft (MSFT) – Microsoft reported quarterly earnings of $1.82 per share, 28 cents a share above estimates. Revenue also came in above forecasts. Current-quarter revenue guidance was below current consensus, however, with a particular shortfall in its More Personal Computing unit. The shares lost 2% in premarket trading as of 7:40 a.m. ET.
FireEye (FEYE) – FireEye beat estimates by 4 cents a share, with quarterly profit of 11 cents per share. The cybersecurity company’s revenue also topped estimates and FireEye gave strong current-quarter revenue guidance. The shares added 2% in premarket trading as of 7:40 a.m. ET.
First Solar (FSLR) – First Solar more than doubled the 61 cents a share consensus estimate, with quarterly earnings of $1.45 per share. Revenue was considerably above Wall Street forecasts as well. The solar equipment company said its results have not been materially impacted by the pandemic. The shares surged 12% in premarket trading as of 7:40 a.m. ET.
Deutsche Bank (DB) – Deutsche Bank reported a surprise third-quarter profit, with the bank’s bottom line benefitting from improved performance by its investment banking operations.
Juniper Networks (JNPR) – Juniper Networks matched estimates, with quarterly earnings of 43 cents per share. The networking and cybersecurity company’s revenue came in above analysts’ forecasts. The company said it saw better-than-expected demand during the quarter despite challenges created by the pandemic.
Sony (SNE) – Sony raised its annual profit forecast after reporting a better-than-expected fiscal second-quarter profit, with its gaming business getting a boost from pandemic-related lockdowns as well as the performance of its Japanese animated film “Demon Slayer.”
Caesars Entertainment (CZR) – Caesars is selling its Tropicana Evansville casino for a total of $480 million, with Gaming & Leisure Properties buying the real property assets and Twin River Worldwide Holdings buying the operating assets.
Akamai Technologies (AKAM) – Akamai shares are under pressure despite beating estimates on the top and bottom lines for its latest quarter. The provider of online content delivery technology reported quarterly profit of $1.31 per share, 8 cents a share above estimates.