AT&T, IBM, Crocs, Blackstone and more
Crocs store in New York.
Michael Brochstein | SOPA Pictures | LightRocket | Getty Images
Find out which companies are making the headlines before the bell:
AT&T (T) – AT&T rose 1.5% in pre-market trading after the company topped estimates by 9 cents with adjusted quarterly profit of 87 cents per share. Revenue also exceeded analysts’ forecasts, with AT&T seeing growth in demand for its phone and internet services as well as HBO and HBO Max.
Danaher (DHR) – The medical and diagnostic equipment maker earned adjusted $ 2.39 per share for the third quarter, 24 cents above estimates, with revenue also beating expectations. Danaher saw a significant contribution to Covid-19 test and treatment results. The shares were stable in the pre-market.
Blackstone (BX) – The private equity firm’s share gained 2.8% in pre-market shares, after earnings per share came in at $ 1.28, beating the consensus estimate of 91 cents. Blackstone benefited, among other factors, from a strong investment performance.
Dow Inc. (DOW) – The chemicals maker topped estimates by 19 cents with adjusted third-quarter earnings of $ 2.75 per share, with revenue also exceeding estimates. Dow reported improved performance in specialty plastics and packaging as well as in coatings, and the stock rose 1.2% in pre-market trading.
Quest Diagnostics (DGX) – The medical laboratory operator saw its shares jump 3.4% in pre-market following better-than-expected quarterly results. Quest earned an adjusted amount of $ 3.96 per share, compared to a consensus estimate of $ 2.88 per share. The company’s results were boosted by the increase in Covid testing and raised its outlook for the full year.
Crocs (CROX) – Crocs jumped 11.1% pre-market, after adjusted quarterly earnings of $ 2.47 per share, against a consensus estimate of $ 1.88. The shoemaker’s revenue also exceeded expectations, with digital sales up 69%.
IBM (IBM) – IBM broke estimates by 2 cents with adjusted quarterly profit of $ 2.52 per share, but revenue fell below analysts’ expectations due to some weakness in cloud business from business and lower customer spending. IBM slipped 5% in pre-market trading.
CSX (CSX) – CSX reported quarterly profit of 43 cents a share, 5 cents above estimate, with the rail operator’s earnings also exceeding estimates. The pace was driven by an increase in shipping volumes which was 3% above last year’s high level. CSX shares rose 3.9% in pre-market trading.
Tenet Healthcare (THC) – Tenet earned adjusted $ 1.99 per share for its last quarter, well above the consensus estimate of $ 1.02, and the hospital operator also reported better-than-expected earnings while by increasing its profit forecast for the entire year. Tenet’s results were driven by increased admissions as well as increased revenue per entry. The stock jumped 4% in the pre-market.
Unilever (UL) – Unilever gained 1.3% in pre-market trading after the consumer products giant reported better-than-expected quarterly results. The maker of Dove soap and Hellman’s mayonnaise was able to raise prices to offset rising input costs, but warned it expected inflation to accelerate in 2022.
National Railway of Canada (CNI) – The Wall Street Journal reported that activist investor Elliott Management has taken a “substantial” stake in the rail operator. Another activist investor, TCI Fund Management, already owns a stake of more than 5% in Canadian National. The shares were stable in the pre-market.