Stocks making the biggest moves premarket: Netgear, Unilever, Whirlpool, Crocs & more
Check out the companies making headlines before the bell Thursday:
Netgear – Netgear shares plummeted 14.2% after the computer equipment maker reported lower-than-expected sales and revenue for its latest quarter. The company also gave guidance that fell short of analyst forecasts. Netgear said supply chain constraints and factory closures due to Covid-19 held back its performance.
Unilever – Unilever reported better-than-expected sales and earnings for the second quarter, but the consumer products giant also said that a significant increase in commodity costs would hurt its full-year profit margins. Its shares dropped 4.6%.
Whirlpool – Whirlpool reported adjusted quarterly earnings of $6.64 per share, beating the consensus estimate of $5.90, with the appliance maker's revenue also topping Wall Street forecasts. Whirlpool also raised its full-year guidance, as consumer demand remains strong even in the face of higher prices.
Dow Inc. – The materials science company's shares rose 1.7% in the premarket, after Dow Inc beat earnings estimates by 27 cents with quarterly a profit of $2.72 per share. Revenue beat forecasts as well, as sales benefited from higher prices and tight supplies. Dow also sees an upbeat second half as global economies improve.
AT&T – AT&T reported adjusted quarterly earnings of 89 cents per share, 10 cents above estimates, with revenue also above Wall Street projections. AT&T added a greater number of wireless subscribers than expected and also saw a jump in signups for its various HBO services, and its shares climbed 1.2% in premarket trading.
DR Horton – The homebuilder's shares fell 4.4% in premarket action despite the company reporting stronger-than-expected earnings. DR Horton earned $3.06 per share for the second quarter, compared with a $2.81 consensus estimate. The company also raised its fiscal 2021 revenue guidance.
Southwest Airlines – Southwest shares fell 2.4% in the premarket, as its 35 cents per-share loss for the second quarter was wider than the 23 cent loss analysts were expecting. Southwest's revenue beat estimates, however, and the airline said it expected to remain profitable for the remainder of the year.
Blackstone Group – The private equity firm reported earnings per share of 82 cents for the second quarter, 4 cents above estimates. Blackstone benefited from a record surge in the value of its investments compared to a year ago. Shares of Blackstone climbed 1.6%.
Crocs – The footwear maker's shares rallied 8% after the company posted adjusted quarterly earnings of $2.23 per share, compared to a consensus estimate of $1.60. Revenue also beat forecasts with Crocs saying it was seeing strong demand for the brand around the globe.
Biogen – The drug maker earned an adjusted $5.68 per share for the second quarter, compared to a consensus estimate of $4.54, with revenue above estimates as well. Biogen also raised its 2021 revenue forecast, and its shares added 1.3% in the premarket.
Texas Instruments – Texas Instruments beat earnings estimates by 22 cents with a quarterly profit of $2.05 per share. Revenue also beat analyst forecasts. However, the chipmaker issued weaker-than-expected revenue guidance for the current quarter, raising concerns about low inventories and manufacturing capacity. The stock shed 4.6%.
Las Vegas Sands – Las Vegas Sands lost 26 cents per share, 10 cents more than Wall Street was anticipating for the casino operator, and revenue also fell short of estimates. However, the company said it remained confident about a rebound in travel and tourism. Las Vegas Sands fell 2.2%.