Stocks making the biggest moves in the premarket: Twitter, Alphabet, Apple, Under Armour & more

Finance

Take a look at some of the biggest movers in the premarket:

Exxon Mobil (XOM) – Exxon lost 18 cents per share for the third quarter, smaller than the 25 cents a share loss that analysts were expecting. Revenue came in above analysts’ forecasts. Exxon is also planning smaller capital expenditures for 2021, to $16 billion to $19 billion, from $23 billion this year. Shares were little changed in premarket trading as of 7:42 a.m. ET.

Chevron (CVX) – Chevron posted a third-quarter profit of 11 cents per share, compared to analysts’ forecasts of a 27 cents per share loss. Chevron’s revenue came in below estimates, but managed a profit by controlling costs. Shares were little changed in premarket trading as of 7:42 a.m. ET.

Honeywell (HON) – Honeywell earned $1.56 per share for the third quarter, 7 cents a share above estimates. Revenue also topped forecasts, helped by cost-cutting and strong demand for warehouse automation equipment. Shares fell 1% in premarket trading as of 7:42 a.m. ET.

Colgate-Palmolive (CL) – The household products maker beat estimates by 9 cents a share, with quarterly earnings of 79 cents per share. Revenue was also above estimates and Colgate said it expected net sales and organic sales to be up in the mid-single digit range for the full year. Colgate shares jumped 2% in premarket trading as of 7:42 a.m. ET.

Under Armour (UAA) – The athletic apparel maker earned 26 cents per share for its latest quarter, well above the consensus estimate of 3 cents a share. Revenue was above analysts’ forecasts as well. It also forecast full-year revenue above consensus estimates, on growing demand for home and outdoor workout apparel. The shares gained 7% in premarket trading as of 7:42 a.m. ET.

Newell Brands (NWL) – The consumer products company beat consensus estimates by 40 cents a share, with quarterly profit of 84 cents per share. The company behind such brands as Yankee Candle and Elmer’s Glue also said it expected flat-to-single-digit core sales growth for the current quarter. The shares added 7% in premarket trading as of 7:42 a.m. ET.

Apple (AAPL) – Apple reported quarterly earnings of 73 cents per share, 3 cents a share above estimates. Revenue also topped forecasts, however iPhone sales tumbled 21% as Apple delayed launching the new iPhone 12 until October. Apple shares lost 4% in premarket trading as of 7:42 a.m. ET.

Amazon.com (AMZN) – Amazon earned $12.37 per share for its latest quarter, well above the consensus estimate of $7.41. Revenue beat estimates as well. Amazon’s costs jumped during the quarter, however, as it added staff and took other measures to handle the pandemic-induced surge in online shopping. The stock fell 1.4% in premarket trading as of 7:42 a.m. ET.

Facebook (FB) – Facebook reported profit of $2.72 per share for the third quarter, beating the consensus estimate of $1.91 a share. Revenue also came in above Street forecasts, but Facebook warned of a “significant amount of uncertainty” for the coming year. The shares lost 1% in premarket trading as of 7:42 a.m. ET.

Alphabet (GOOGL) – Alphabet earned $16.40 per share for its latest quarter, compared to the $11.29 a share consensus estimate. Revenue exceeded analysts’ forecasts as well. The Google parent saw a return to growth in digital advertising, while YouTube exceeded the $5 billion mark in ad revenue for the first time. The shares jumped about 7% in premarket trading as of 7:42 a.m. ET.

Twitter (TWTR) – Twitter more than tripled the consensus estimate of 6 cents a share, with quarterly earnings of 19 cents per share. Revenue was well above consensus, however Twitter posted its slowest user growth since late 2017. Twitter shares tumbled 15.9% in premarket trading as of 7:42 a.m. ET.

Starbucks (SBUX) – Starbucks beat estimates by 20 cents a share, with quarterly earnings of 51 cents per share. The coffee chain’s revenue also came in above estimates and Starbucks forecast a return to sales growth in 2021 amid a faster than expected return by customers to its stores. The shares lost 1.5% in premarket trading as of 7:42 a.m. ET.

Activision Blizzard (ATVI) – Activision reported quarterly earnings of 71 cents per share, 6 cents a share above estimates. The videogame maker’s revenue also topped Wall Street projections. Activision gave an upbeat holiday season forecast, with a new “Call of Duty” game set for release in mid-November. The shares fell 1.6% in premarket trading as of 7:42 a.m. ET.

Shake Shack (SHAK) – Shake Shack lost 11 cents per share for its latest quarter, smaller than the 21 cents a share loss that analysts were expecting. The restaurant chain’s revenue was also better than expected, and although same-restaurant sales tumbled nearly 32%, that drop was smaller than anticipated. Shake Shack did not give any forward guidance but said it is confident in a full long-term recovery. The stock lost 4.2% in premarket trading as of 7:42 a.m. ET.

Skechers (SKX) – Skechers earned 53 cents per share for its latest quarter, 17 cents a share above estimates. The footwear maker’s revenue above estimates as well. Skechers did not provide a financial outlook due to pandemic-related uncertainty. The shares lost 1.3% in premarket trading as of 7:42 a.m. ET.

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