Stocks making the biggest moves premarket: AT&T, American Airlines, Blackstone and more
Check out the companies making headlines before the bell:
AT&T (T) – AT&T rose 2.4% in the premarket after reporting better-than-expected profit and revenue for the third quarter. The company said wireless revenue rose 5.6%, the best quarterly improvement in more than a decade, and postpaid phone net additions came in higher than expected.
American Airlines (AAL) – American Airlines beat top and bottom line estimates for the third quarter as travel demand continued to surge despite economic worries. American stock jumped 2.6% in premarket trading.
Blackstone (BX) – Blackstone added 1% in premarket action following better-than-expected quarterly results. Distributable earnings fell 16% from a year ago, due in part to market declines.
Dow Inc. (DOW) – The chemical maker's stock fell 2.5% in the premarket, despite a top and bottom line beat for the third quarter, with investors focusing on higher energy costs that hurt Dow's profit margins.
Tesla (TSLA) – Tesla slid 5.3% in premarket trading after it reported lower-than-expected quarterly revenue and cut its full-year delivery target. The electric vehicle maker reported a better-than-expected profit for the quarter.
IBM (IBM) – IBM rallied 3.3% in off-hours trading after reporting a top and bottom line beat for its latest quarter and raising its full-year revenue outlook. IBM saw improved results in multiple business segments, including software, consulting and infrastructure.
Las Vegas Sands (LVS) – Las Vegas Sands reported a larger-than-expected loss for the third quarter, while revenue beat analyst forecasts. The casino operator's results are still being impacted by China's Covid-19 policies, which are crimping business In Macau. However, Las Vegas Sands shares rose 1% in premarket trading.
Allstate (ALL) – Allstate tumbled 10.3% in the premarket after the insurance company said it would report a third-quarter loss. Catastrophe losses will grow for the quarter, largely due to the impact of Hurricane Ian, which struck in September.
WD-40 (WDFC) – WD-40 slid 6.3% in premarket action after saying inflation will affect the lubricant maker's ability to hit its 55% gross margin target.
Alcoa (AA) – Alcoa shares slumped 10.7% in the premarket after the aluminum producer reported an unexpected third-quarter loss. A drop in aluminum prices and higher costs affected Alcoa's results.