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However, first-quarter earnings and revenue both came above analysts' estimates. Honeywell — The industrial stock rose 2.2% in premarket trading after the company posted earnings per share of $2.25, beating LSEG analysts' estimates of $2.17. Revenue for the quarter came in at $9.11 billion, compared to the $9.03 billion analysts were expecting. Analysts surveyed by LSEG forecast $1.88 in earnings per share and $15.20 billion in revenue. ServiceNow — The workflow management company shed 4% after narrowly beating analysts' revenue expectations in the first quarter.
Persons: Merck, LSEG, ServiceNow, , Macheel, Samantha Subin, Jesse Pound, Pia Singh, Alex Harring Organizations: Facebook, Honeywell, Merck, Southwest Airlines, American Airlines, LSEG, StreetAccount, IBM, Caterpillar, Deutsche Bank — U.S, Deutsche Bank, Comcast, Technology, Revenue, CNBC Locations: NBCUniversal
Honeywell posted adjusted earnings per share of $2.25, beating analysts' estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better-than-expected at $9.11 billion, compared to the $9.03 billion analysts were expecting. ServiceNow — The digital workflow firm slid 5% after it only narrowly beat analysts' revenue expectations in the first quarter. ServiceNow posted revenue of $2.6 billion, slightly higher than the $2.59 billion analysts polled by LSEG had anticipated. Caterpillar — Shares tumbled 6.5% after revenues of $15.8 billion for the most recent quarter missed analysts' estimates of $16.04 billion, according to LSEG.
Persons: Goldman Sachs, Mark Zuckerberg, ServiceNow, LSEG, , Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Facebook, Meta, Tech, Microsoft, Beverage, JPMorgan, Monster Beverage, Honeywell —, Honeywell, Revenue, Merck, Co, LSEG, — Bank of America, Southwest Airlines —, Management, StreetAccount, Machines, IBM, Bank of America, Caterpillar, Nvidia —, Nvidia, Comcast, Deutsche Bank — U.S, Deutsche Bank, CNBC Locations: NBCUniversal
Chipotle reported $2.51 billion in revenue, while analysts polled by Refinitiv had expected revenue of $2.53 billion. Meta Platforms — The Facebook parent jumped nearly 9% after reporting earnings and revenue for the second quarter that topped analysts' estimates. Same-store sales grew 11.7% in the second quarter. Sunnova Energy — Shares of the solar company slid more than 7% following weaker-than-expected financial results in the second quarter. Sunnova posted a wider-than-expected loss of 74 cents per share, while analysts expected a loss of 42 cents per share, according to FactSet.
Persons: Chipotle, Refinitiv, Edwards Lifesciences, Meta, Lam, McDonald's, Richard Dickson, Sunnova, , Jesse Pound, Alex Harring, Yun Li Organizations: Southwest Airlines —, eBay, FactSet, Technology, Revenue, Facebook, Lam, Honeywell —, Honeywell, Mattel, Comcast —, NBC, Management, Energy, Comcast, CNBC Locations: Refinitiv, China, FactSet
Align Technology — The orthodontics company saw its shares rise 14% after its quarterly earnings and revenue beat analyst expectations. Align also said it will repurchase up to $1 billion of its common stock over the next three years. The company generated $9.19 billion of revenue, while analysts surveyed by Refinitiv were looking for $9.25 billion. Beauty — Shares for the cosmetics company jumped 1.67% after its fiscal third quarter revenue topped analysts' estimates. Refinitiv analysts had previously called for per-share earnings of 23 cents on revenue of $121.8 million.
The Wynn Resorts logo stands illuminated as people sit by the fountain at the Wynn Macau casino resort in Macau, China, on Tuesday, July 24, 2018. Check out the companies making the biggest moves midday:Wynn Resorts — The casino operator's stock jumped nearly 7%, building on its solid start to 2023. Salesforce — Shares of the cloud-based software company jumped more than 3% after Salesforce announced that it is cutting 10% of its personnel and reducing some office space as part of a restructuring plan. Celanese — The global chemical and specialty materials company jumped more than 6% after being upgraded by RBC Capital Markets to outperform from sector perform. The firm cited the solar company stock's "steep drop from the initial euphoria created by the Inflation Reduction Act."
Check out the companies making headlines in premarket trading. Shares of GE were up about 2% in premarket trading. Microsoft — Microsoft shares dropped about 2% after UBS downgraded the tech giant to neutral from buy. Merck — Merck's stock rose about 1.7% after being upgraded to buy from neutral by Bank of America. Honeywell — Shares of Honeywell slipped 1.8% in the premarket after being double downgraded by UBS to sell from buy.
Meta — The social media stock dropped 22.8% after Meta reported an earnings miss and a weaker-than-expected fourth-quarter forecast. Meta reported earnings of $1.64 per share on revenue of $27.71 billion. Caterpillar — Shares popped 5.1% after Caterpillar reported earnings that beat on the top and bottom lines. Caterpillar was expected to earn $3.16 per share on revenue of $14.33 billion, according to consensus estimates from Refinitiv. The defense company reported revenue of $8.97 billion, compared to forecasts of 9.13 billion, according to consensus estimates compiled by Refinitiv.
McDonald's — The fast-food giant's shares got a 2.8% lift after the company beat earnings expectations for its most recent quarter. Align Technology — The Invisalign maker saw its shares tumble 18% after it posted disappointing earnings for the most recent quarter. Credit Suisse — Shares of the Swiss bank plummeted 19.5% after Credit Suisse posted a greater-than-expected loss for the third quarter. ServiceNow — The stock jumped 13% after ServiceNow surpassed earnings expectations in its most recent quarter. Comcast — The media giant's stock rose 4.8% after topping analysts' earnings expectations for the third quarter.
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