Kimberly-Clark, Boston Beer, Mattel & more
Check out some of the largest moving companies on the pre-market:
Kimberly-Clark (KMB) – The consumer products company’s stock fell 6.4% in the pre-market after posting weaker-than-expected earnings and sales for the last quarter and a full-year forecast that was below the Wall Street consensus lay. Kimberly-Clark said there were a number of challenges during the quarter, including supply chain issues and difficult comparisons with when consumers stocked up on items a year ago at the start of the pandemic.
Boston Beer (SAM) – The Sam Adams brewer gained 7.6% pre-launch after significantly beating sales and earnings estimates for the last quarter. Boston Beer results were supported by a surge in sales for the Truly Hard Seltzer brand.
Mattel (MAT) – The toy maker’s shares rose 6.8% in the pre-market after posting record revenue growth of 47% year over year in the most recent quarter. Mattel reported a much smaller loss than expected, but the revenue exceeded projections for strong sales of toys like Barbie dolls and Hot Wheels cars.
American Express (AXP) – American Express reported earnings of $ 2.74 per share for the first quarter, beating the consensus estimate of $ 1.61 per share. The financial services company’s sales fell slightly short of forecast. The result was helped by the release of credit reserves of $ 1.05 billion as the macro environment improved. American Express shares fell 2.2% in premarket trading.
Honeywell (HON) – The industrial conglomerate beat estimates by 12 cents per share with quarterly earnings of $ 1.92 per share. Income also exceeded estimates. Honeywell’s aerospace segment sales declined, but the safety and productivity businesses were strong. The Honeywell share fell 1.5% in the pre-market.
Schlumberger (SLB) – The oilfield services company’s shares rose 1.4% in the pre-market after posting better-than-expected earnings and sales due to improved international drilling activities. This follows bullish reports from rivals Halliburton (HAL) and Baker Hughes (BKR) earlier this week.
Intel (INTC) – Intel fell 2.2% in premarket trading, despite beating first-quarter estimates on both the top and bottom. Investors are focused on a lighter-than-expected full-year sales forecast, though the chipmaker has raised that outlook from its previous projections.
Snap (SNAP) – Snapchat’s parent company reported breakeven versus consensus forecasts for a 6 cents per share loss. Revenue also beat estimates, as did user growth for Snapchat, and the stock gained 4.5% in the pre-market.
Seagate Technology (STX) – The hard drive manufacturer’s shares were down 2% in the pre-market, although earnings and sales were better than expected in the last quarter. Seagate forecast slightly better-than-expected earnings for the full year, with sales forecast roughly in line with Wall Street forecasts.
Skillz (SKLZ) – The esports platform gained 10.1% in premarket trading after it was revealed that Cathie Wood’s ARK funds bought an additional 1.2 million shares after buying 5 million shares on Wednesday .
Skechers (SKX) – The shoe maker top and bottom bumped estimates for the last quarter, driven by strong overseas shoe demand. Skechers stock was up 10.4% before entering the market.
World Wrestling Entertainment (WWE) – The media and entertainment company’s stocks rose 2.9% prior to entering the market after posting better-than-expected earnings and sales in the first quarter. However, earnings were down year-over-year due to a drop in live events due to the pandemic.
Skyworks Solutions (SWKS) – The chipmaker is buying the infrastructure and automotive businesses of Silicon Labs (SLAB) for $ 2.75 billion in cash. The deal will help Skyworks expand into new markets such as electric vehicles and 5G technology. Skyworks was up 4.1% in the pre-market while Silicon Labs was up 12.3% after it was announced that it would return $ 2 billion of business proceeds to shareholders.
Harley-Davidson (HOG) – The motorcycle maker’s stock fell 2.6% in the pre-market after Morgan Stanley downgraded it from “balanced” to “underweight.” The stock rebounded after strong gains in the first quarter, but Morgan Stanley said the recent positive momentum is now factored in and investors are underestimating the challenges ahead.