Check out the companies making headlines before the bell. American Airlines — Shares dropped 6% after the carrier issued weak profit guidance for the third quarter. American Airlines estimates unit revenue will drop as much as 4.5% as the broader industry struggles with oversupply that has led to low fares. Honeywell — Shares were down nearly 5% after the industrial giant issued guidance that missed analyst expectations, overshadowing better-than-anticipated quarterly figures. The company sees third-quarter earnings per share in a range of $2.45 to $2.55. That’s below a StreetAccount forecast of $2.58 per share. Southwest Airlines — Shares of the discount airline fell 5% despite a second-quarter report that beat expectations. Southwest reported 58 cents in adjusted earnings per share on $7.35 billion of revenue. Analysts surveyed by LSEG were looking for a profit of 51 cents per share on $7.32 billion in revenue. The company warned its revenue per average seat mile may fall year over year in the current quarter while nonfuel costs could jump as much as 13%. RTX — The aerospace and defense supplies manufacturer jumped 3% after second-quarter earnings topped estimates. RTX reported $1.41 earnings per share, ex-items, compared to analysts’ estimate of $1.30 per share, according to LSEG. The company also posted $19.79 billion in revenue, topping forecasts as well. Hasbro – The toy maker surged more than 6% after raising its full-year guidance. Second-quarter earnings and revenue also came above forecasts. Hasbro reported $1.22 earnings per share, ex-items, versus consensus forecasts of 78 cents per share, according to LSEG. Revenue of $995 million also beat analysts’ estimate of $944 million. AbbVie — The biopharmaceutical company’s shares fell nearly 3% despite reporting better-than-expected second-quarter results. AbbVie earned $2.65 per share, ex-items, which was higher than a forecast of $2.57 per share, according to LSEG. Revenue of $14.46 billion topped estimates of $14.03 billion. Dow — The chemicals company lost nearly 5% following a top- and bottom-lines miss in the second quarter. Dow posted 68 cents earnings per share ex-items on revenue of $10.92 billion. Analysts surveyed by LSEG had expected 72 cents earnings per share on revenue of $11.01 billion. International Business Machines — Shares gained 3% after the tech company’s quarterly results exceeded expectations. The company reported adjusted earnings of $2.43 per share on revenue of $15.77 billion for the second quarter. Analysts polled by LSEG had called for earnings of $2.20 per share on revenue of $15.62 billion. IBM expects slightly higher full-year free cash flow than it did in April, and said it is seeing more business tied to generative artificial intelligence. Northrop Grumman — The defense company climbed 3% after reporting a top and bottom line beat for the second quarter and raising its forecast. Northrop Grumman posted $6.46 earnings per share on $10.22 billion in revenue. Analysts polled by LSEG estimated $5.93 earnings per share and revenue of $10.02 billion. Keurig Dr Pepper — The beverage company added nearly 5% after posting in-line quarterly results and reiterating its full-year forecast. Keurig Dr Pepper earned 45 cents earnings per share after adjusting for items on $3.92 billion in revenue. Nasdaq — Shares ticked up 2% after the financial services company posted second-quarter results that came slightly above analysts’ estimates. Nasdaq earned 69 cents per share, excluding items, on $1.16 billion in revenue. Analysts had forecasted 64 cents earnings per share on revenue of $1.13 billion. KLA Corporation — The chipmaker rose more than 2% after releasing better-than-expected fiscal fourth-quarter results. KLA reported adjusted earnings of $6.60 per share, higher than analysts’ expectations of $6.15 per share, according to LSEG. Revenue of $2.57 billion exceeded the expected $2.52 billion. The company raised its first-quarter adjusted earnings and revenue estimates. ServiceNow — The software stock jumped 6% in premarket trading after posting stronger-than-expected earnings amid burgeoning demand for workflow automation. ServiceNow also raised its full-year outlook, now projecting full-year subscription revenue between $10.575 billion and $10.585 billion, above analysts’ estimate of $10.565 billion, according to LSEG. Separately, the company said Chief Operating Officer CJ Desai is resigning amid an investigation into the hiring of a former U.S. Army official. Molina Healthcare — The managed care company rallied 10%. Molina reaffirmed its full-year guidance for adjusted earnings of at least $23.50 per share, compared with a consensus estimate of $23.09 per share, according to FactSet. Second-quarter results also beat expectations on the top and bottom lines. Align Technology —The Invisalign clear aligner manufacturer declined nearly 6% after releasing disappointing guidance and quarterly revenue that missed analysts’ expectations. Adjusted earnings were $2.41 per share for the second quarter, while analysts polled by LSEG forecasted $2.30 per share. Revenue of $1.03 billion for the period just missed the consensus estimate of $1.04 billion. The company said it expects its Clear Aligner volume and systems and services revenue to decline on third-quarter seasonality. Edwards Lifesciences — Shares tumbled more than 23% weaker-than-expected guidance. Adjusted earnings in the second quarter came in just a penny above Street estimates at 70 cents a share, per LSEG. The company sees third-quarter revenue ranging from $1.56 billion to $1.64 billion, while analysts called for $1.62 billion. Chipotle — Shares of the fast casual chain advanced nearly 2%. Chipotle beat earnings and revenue expectations as its restaurants experienced higher traffic. Profits also rose year-over-year due to price increases that helped offset some of its costs. For the quarterly period, Chipotle reported adjusted earnings of 34 cents per share on revenue of $2.97 billion, while analysts polled by LSEG expected 32 cents per share on $2.94 billion. Ford Motor — Shares of the automaker plunged 13% after second-quarter earnings missed analysts’ estimates owing to longtime warranty issues. Ford reported adjusted earnings per share of 47 cents, significantly less than the consensus forecast of 68 cents, per LSEG. Automotive revenue of $44.81 billion, was slightly above the forecast for $44.02 billion. Viking Therapeutics — Shares rose more than 14% after the drug developer revealed that it will move its experimental obesity treatment, VK2735, into a phase 3 clinical trial. The drug led to a 15% reduction in body weight after 13 weeks of treatment. An oral version of this drug will begin phase 2 trials in the fourth quarter, the company said. — CNBC’s Yun Li, Jesse Pound, Christina Cheddar Berk and Fred Imbert contributed reporting.
https://www.cnbc.com/2024/07/25/stocks-making-the-biggest-moves-premarket-aal-hon-rtx-f-and-more.html
