These are stocks that make moves on quarterly earnings reports before the U.S. market opens on Thursday:
Winners
Sunnova Energy Swings After Mixed Third-Quarter Report
It said revenue for the quarter was $198.4 million, and initiated 2024 adjusted EBITDA guidance between $350 million and $450 million, above analyst estimates of $332 million compiled by Bloomberg.
Stocks soared over 11% in premarket trading.
Chipmaker STMicroelectronics Q3 Sales Top Estimates
Its net revenues rose 2.5% year on year to $4.43 billion, and it expects Q4 sales to fall about 3% year on year to $4.30 billion. The company added it projects a gross margin of 46% in the fourth quarter, give or take 200 basis points.
Stocks gained nearly 4% in premarket trading.
TAL Education Non-GAAP EPADS of $0.10 Beats By $0.02, Revenue of $411.9M Beats By $14.32M
Its net revenues were $411.9 million, compared to net revenues of $294.1 million in the same period of the prior year. Cash, cash equivalents and short-term investments totaled $2,963.5 million as of August 31, 2023, compared to US$3,171.5 million as of February 28, 2023.
Stocks gained over 3% in premarket trading.
Grain Trader Bunge Beats Third-Quarter Profit Estimates
It beat Wall Street expectations for third-quarter profit on Thursday, as the grain trader and processor benefited from strong global export demand. The company posted an adjusted profit of $2.99 per share for the three months ended Sept. 30
Stocks rose over 2% in premarket trading.
Mobileye Cuts Annual Revenue Forecast As Automakers Look to Ease Production
It lowered the upper end of its annual revenue forecast on Thursday, in a sign that slowing electric-vehicle production is likely to weigh on demand for its driver-assistance technology.
Stocks rose over 1% in premarket trading.
Kenvue Cuts Annual Profit Forecast on Weakness in Cold, Flu Meds Demand
It cut its annual profit forecast, as it expects lower demand for its cough, cold and flu medicines and increased impact from a stronger dollar, and now expects full-year adjusted profit between $1.26 and $1.28 per share, compared with its previous forecast of $1.26 to $1.31 per share.
Stocks rose slightly in premarket trading.
TotalEnergies Reports 2023 Q3 Net Income Down 35%
It posted a 35% fall in its Q3 adjusted net income compared to a year ago, hurt by a drop in energy prices from highs hit following Russia's invasion of Ukraine. The company also confirmed $9 billion in share buybacks for the full year.
Stocks rose slightly in premarket trading.
Royal Caribbean Raises Annual Profit Forecast on Steady Demand
It raised its full-year profit forecast on Thursday, backed by higher ticket prices as well as steady demand from affluent customers for leisure travel. The company expects annual adjusted profit between $6.58 and $6.63 per share, compared with its earlier forecast of $6.00 to $6.20.
Stocks rose slightly in premarket trading.
Boston Scientific Beats Quarterly Profit Estimates on Strength in Heart Devices Unit
It topped Wall Street expectations for third-quarter profit on Thursday, helped by a resilient demand for its heart devices following the post-pandemic rebound in elective surgeries.
Stocks rose slightly in premarket trading.
Merck Q3 Profit Tops Expectations on Covid Pill Surprise
It reported higher-than-expected Q3 sales and profit on surprisingly strong demand for its COVID-19 treatment, primarily in Japan. The company posted sales of $15.96 billion in the quarter, up from $14.96 billion a year earlier. Analysts, on average, had expected sales of around $15.3 billion, according to LSEG data.
Stocks rose slightly in premarket trading.
Losers
Hasbro Cuts Annual Sales Outlook on Weaker Toy Business
It cut its annual revenue forecast for the second time, joining rival Mattel in warning of choppy toy sales into the crucial holiday quarter as price-conscious shoppers cut back on non-essential spending.
Stocks tumbled over 12% in premarket trading.
Mattel Results Buoyed by "Barbie"; Shares Fall on Outlook
Its Q3 earnings rose to $1.08 a share, sales grew 9.3% to $1.92 billion as shoppers snapped up Barbie dolls and other mainstays like Hot Wheels cars. Despite the quarterly gain, it continued to expect full-year sales to match the $5.44 billion recorded in 2022.
Stocks crashed over 9% in premarket trading.
Hertz Misses Quarterly Profit Estimates as Its Fleet Costs Rise
Earnings per share excluding some items were 70 cents in the third quarter, below the 77-cent average estimate of analysts surveyed by Bloomberg. Revenue rose 8% in the period to $2.7 billion, Hertz said in a statement Thursday, matching expectations.
Stocks fell over 4% in premarket trading.
Bristol Myers Says It Needs Another Year to Hit Target for New Drugs
It pushed back by a year the time frame for its current new-product portfolio to hit $10 billion in sales as the ramp-up of new drugs including anemia treatment Reblozyl, psoriasis drug Sotyktu, and multiple sclerosis drug Zeposia takes longer than expected.
Stocks fell over 3% in premarket trading.
Unilever Quarterly Sales Meet Estimates As Prices Rise
It met market expectations for third-quarter sales growth after raising prices at a slower rate but still failing to win back some shoppers who traded down to cheaper products during a cost of living crisis.
Stocks fell over 3% in premarket trading.
Mastercard Q3 Profit Jumps on Robust Spending
It reported a profit of $3.2 billion, or $3.39 per share, for the three months ended Sept. 30, compared with $2.5 billion, or $2.58 per share, a year earlier. Net revenue rose 14% to $6.5 billion.
Stocks fell nearly 3% in premarket trading.
Southwest Airlines Profit Falls, Expects Higher Deliveries From Boeing in 2023
It reported a Q3 profit on Thursday that fell about 30% on soaring labor and fuel costs and the budget carrier said it expects higher aircraft deliveries from Boeing in 2023.
Stocks fell nearly 3% in premarket trading.
Comcast Beats Revenue Estimates Amid Streaming Growth, Broadband Decline
It posted quarterly revenue that topped Wall Street estimates, bolstered by strong performance in streaming and theme parks, but also reported a surprise loss in broadband customers.
Stocks slid over 1% in premarket trading.
Altria Non-GAAP EPS of $1.28 Misses By $0.02, Revenue of $5.28B Misses By $150M
Its Q3 profit rose sharply to $2.167 billion, or $1.22 a share. Adjusted profit in the latest quarter totaled $1.28 a share, a penny shy of the FactSet consensus estimate of $1.29 a share. Revenue fell 4.1% to $6.3 billion.
Stocks slid over 1% in premarket trading.
Newmont Misses Quarterly Profit Estimates, Penasquito Ramp-up Underway
It fell short of Wall Street estimates for Q3 profit, as the world's largest gold miner struggled with weak production. Its quarterly attributable gold production fell 13% to 1.29 million ounces from 1.49 million ounces a year earlier, largely due to lower production at the Penasquito mine in Mexico, as well as Akyem and Ahafo mines in Ghana.
Stocks slid slightly in premarket trading.
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