Check out the businesses making headlines earlier than the bell:
Snap – Shares of the Snapchat mother or father plunged 19.5% within the premarket after the corporate warned of slowing progress because of the current modifications in Apple’s iOS privateness guidelines. Those guidelines make it more tough to collect info from customers and goal adverts. Snap did beat estimates by 9 cents with an adjusted quarterly revenue of 17 cents per share, however its income was barely wanting Wall Street forecasts.
Intel – Intel tumbled 10% in premarket buying and selling after the chip maker predicted decrease revenue margins over the following few years resulting from ongoing investments in new expertise. Intel reported adjusted quarterly earnings of $1.71 per share, beating the consensus estimate of $1.11, however its gross sales had been wanting analyst projections.
Boston Beer – The brewer of Sam Adams beer reported an surprising quarterly loss, resulting from a decline in gross sales of its Truly exhausting seltzer model regardless of efforts to develop in that class. Boston Beer inventory fell 3.3% in premarket motion.
Whirlpool – The equipment maker’s inventory fell 3.4% within the premarket, following a warning of “elevated” provide constraints. Whirlpool reported adjusted quarterly earnings of $6.68 per share, beating the $6.12 consensus estimate, however gross sales fell wanting forecasts.
Digital World Acquisition – The SPAC that’s merging with Trump Media & Technology Group is hovering one other 59.8% within the premarket after more than quadrupling in Thursday’s buying and selling. The firm shaped by former President Trump plans a beta rollout of its social community subsequent month.
Mattel – Mattel surged 7.5% in premarket buying and selling after the toy maker mentioned provide chain disruptions wouldn’t forestall it from having a robust vacation season. Mattel additionally beat estimates on the highest and backside traces, reporting an adjusted quarterly revenue of 84 cents per share in comparison with a 74 cent consensus estimate.
Honeywell – The industrial conglomerate beat estimates by 3 cents with adjusted quarterly earnings of $2.02 per share, though income was barely wanting forecasts. Honeywell mentioned it’s seeing sturdy progress throughout all its segments, however remains to be going through powerful provide chain challenges.
American Express – The monetary companies large earned $2.27 per share for the third quarter, beating the $1.80 consensus estimate, with income additionally topping Wall Street forecasts. Results had been pushed partly by report card member spending. American Express rose 1.4% within the premarket.
Urban Outfitters – The attire retailer’s inventory added 2.7% within the premarket after Citi upgraded it to “buy” from “neutral,” citing a more favorable risk-reward profile following a 25% hunch within the inventory since Urban Outfitters final reported quarterly earnings in August.
Zoom Video Communications – J.P. Morgan Securities upgraded the inventory to “overweight” from “neutral,” saying the inventory already displays a post-pandemic slowdown in distant video communication. The agency mentioned progress will backside this quarter after which speed up resulting from rising adoption by companies. Zoom gained 2.9% in premarket buying and selling.
VF Corp. – The maker of The North Face and different attire manufacturers tumbled 8.1% within the premarket, after it missed each prime and backside line estimates for its newest quarter. VF mentioned it’s seeing accelerated demand however that its restoration has been impacted by additional pandemic-related disruptions.