Stocks making the biggest moves premarket: Meta, Teladoc, Harley-Davidson, Southwest Airlines and more
Check out the companies making headlines before the bell:
Meta Platforms – Shares jumped 12% after the Facebook parent surpassed Wall Street’s expectations on the top and bottom lines and issued optimistic guidance. Meta Platforms posted its first sales increase in about a year.
Teladoc Health – The telemedicine company saw its stock soar more than 7% after revenue topped analyst estimates in the latest quarter. The company also raised the low end of its revenue and adjusted EBITDA guidance, although it posted a wider-than-anticipated loss in the latest quarter. DA Davidson cited stable results and increasing confidence after Teladoc’s earnings.
Harley-Davidson – Harley-Davidson jumped 4.4% after the motorcycle maker topped earnings and revenue expectations, according to consensus estimates from Refinitiv. HOG reported first quarter earnings of $2.04 per share versus an estimate of $1.39, on revenues of $1.56 billion that were above the consensus $1.36 billion.
First Republic Bank – The San Francisco-based lender rose 3% premarket after tumbling nearly 30% during Wednesday’s session. The slide came as the bank looked for a potential rescue deal.
KLA Corporation – The semiconductor equipment maker added 3% after KLA’s latest fiscal third quarter results beat estimates on the top and bottom lines, according to consensus estimates from FactSet.
Ebay – The e-commerce platform jumped 3% after first-quarter earnings and revenue topped expectations, and it issued better-than-expected guidance. Ebay reported earnings of $1.11 per share, better than analysts’ $1.07 consensus, on revenue of $2.51 billion that was above Wall Street’s $2.48 billion estimate.
Eli Lilly and Company – Shares of the Indianapolis-based drugmaker rose more than 3% after it reported higher-than-expected revenue for the first quarter and raised its full-year guidance on both the top and bottom lines. Lilly generated $6.96 billion in revenue, topping the $6.86 billion expected by analysts, according to Refinitiv. Adjusted earnings per share, however, came in 11 cents below estimates at $1.62.
Southwest Airlines – The Dallas-based carrier saw its shares slide 4% after posting a wider-than-expected loss for the first quarter as a result of its holiday crisis, when it canceled more than 16,000 flights in late December. The incident resulted in a $325 million revenue impact for the first quarter, Southwest said.
Roku – Shares climbed 1.8% after Roku’s first-quarter revenue beat expectations, and it issued second-quarter revenue guidance beyond what Wall Street was anticipating. The TV streaming platform said latest quarter revenue came in at $741 million, far better than the $708.5 million consensus estimate, according to Refinitiv. Roku issued second-quarter revenue guidance of $770 million, better than analysts’ consensus of $768 million. Otherwise, Roku slightly missed earnings expectations in the quarter just ended, losing $1.38 per share compared to forecasts for a loss of $1.37 per share.
Honeywell International – Honeywell advanced 1.8% after surpassing earnings and revenue expectations in its latest quarter. The conglomerate reported first quarter earnings of $2.07 per share ex-items, better than Wall Street’s $1.93, on revenues of $8.86 billion that topped the consensus of $8.52 billion.
American Airlines – The Fort Worth, Texas-based carrier rose 0.4% premarket after posting first-quarter earnings that matched estimates, though revenue missed expectations. American posted first quarter earnings of $0.05 per share ex-items, in line with Wall Street, on revenues of $12.19 billion that compared with analysts’ $12.20 billion.
Merck & Co. – The New Jersey-based pharmaceutical maker advanced about 1.5% after topping estimates in its most recent quarter. Merck reported first quarter earnings of $1.40 per share ex-items, better than analysts’ $1.32 estimate, on revenues of $14.49 billion that topped the consensus $13.78 billion, according to Refinitiv.
Northrop Grumman – The defense contractor rose 1.6% after first quarter earnings of $5.50 a share ex-items topped analysts’ $5.09 estimate, according to Refinitiv, while revenue of $9.3 billion was above the consensus of $9.173 billion.
Caterpillar – The construction-equipment maker earned an adjusted $4.91 a share last quarter, above the $3.78 that was expected, according to the Refinitiv consensus, on revenue of $15.86 billion versus an estimate of $15.255 billion. Caterpillar shares dipped 0.1% in early trading.
Bristol-Myers Squibb Company – Bristol Myers posted earnings of $2.05 per share ex-items in the latest quarter, better than forecasts for $1.97 per share, according to Refinitiv. Revenue of $11.34 billion missed expectations of $11.49 billion. The stock gained 0.1% premarket.
Comcast – Shares of the media conglomerate rose 3.5% premarket trading after it posted better-than-expected earnings in the first quarter, according to Refinitiv, despite losses at the Peacock streaming service and a drop in residential broadband subscribers. Comcast owns NBCUniversal, the parent company of CNBC.
ServiceNow – Shares declined 1.1% premarket after a 17% runup year-to-date entering its latest earnings. The cloud computing provider earned of $2.37 per share ex-items in the latest quarter, better than Wall Street’s $2.04, on revenue of $2.10 billion versus analysts’ consensus of $2.08 billion, according to Refinitiv.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
— CNBC’s Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting.