American Airlines, Blackstone, AT&T and more
Check out the companies making headlines before the bell:
American Airlines (AAL) – American climbed 10.5% in premarket trading after reporting a weaker-than-expected loss and predicted profitability for the current quarter.
United Airlines (UAL) – United lost an adjusted $4.24 per share in the first quarter, 2 cents more than expected, and the airline’s revenue was also slightly lower than expected. However, United said it expects a return to profitability this quarter as travel demand increases and the stock rose 8.3% pre-market.
Blackstone (BX) – Shares of the private equity firm jumped 4% pre-market after reporting better-than-expected first-quarter earnings and revenue, helped by strong results from its real estate operations and credit.
AT&T (T) – AT&T earned an adjusted 63 cents per share for the first quarter, 4 cents above estimates, and also beat on the top line. These numbers exclude results from the now spin-off WarnerMedia unit, with AT&T benefiting from increased wireless revenue. AT&T added 1.4% in premarket action.
Tesla (TSLA) – Tesla jumped 7.4% in premarket trading after posting record quarterly profit and beating Wall Street estimates. Tesla has warned that production will be limited for the rest of the year due to shortages of computer chips and other parts, but it plans to increase deliveries.
Xerox (XRX) – Xerox fell 7.3% premarket after reporting adjusted quarterly earnings of 12 cents per share, 1 cent below consensus. The office equipment maker has been hit by inflationary pressures and supply chain issues.
Dow Inc. (DOW) – The chemical maker’s stock rose 2.1% pre-market after beating estimates on the high and low, helped by strong demand and higher prices.
Sleep Number (SNBR) – Shares of Sleep Number fell 10.6% in premarket trading after failing to top and bottom for its latest quarter. The mattress company earned 9 cents a share, well below the consensus estimate of 33 cents, as supply chain issues impacted its results.
Carvana (CVNA) – Carvana lost $2.89 per share for its most recent quarter, more than the $1.44 per share loss analysts expected. Revenue beat estimates, but the online car seller saw its first quarter sales decline. Carvana fell 5.1% premarket.
Lam Research (LRCX) – Lam Research fell 11 cents from estimates with adjusted quarterly earnings of $7.40 per share, and the chipmaker’s revenue also fell below Wall Street forecasts. Lam’s expenses increased as she spent more to deal with supply chain disruptions. Lam was down 1.3% premarket.
CSX (CSX) – CSX beat estimates by 2 cents with quarterly earnings of 39 cents per share, and the rail operator’s revenue also beat forecasts. CSX processed fewer shipments, but this was more than offset by an increase in shipping rates. CSX rose 2.1% in premarket trading.