Finance News

Shares that make the most important strikes forward of the market: Snap, Intel, Zoom Video, Boston Beer, and extra

Check out the companies that make the headlines before the doorbell rings:

Snap – Shares in the Snapchat parent company fell 19.5% in the premarket after the company warned of a slowdown in growth due to recent changes to Apple's iOS privacy rules. These rules make it difficult to collect information from users and target ads. Snap beat estimates by 9 cents with adjusted quarterly earnings of 17 cents per share, but sales were slightly below Wall Street projections.

Intel – Intel slumped 10% in pre-market trading after the chipmaker forecast lower profit margins for the next several years due to continued investment in new technologies. Intel reported adjusted quarterly earnings of $ 1.71 per share, beating the consensus estimate of $ 1.11, but sales fell short of analysts' forecasts.

Boston Beer – Sam Adams Beer brewer reported an unexpected quarterly loss due to a decline in sales for its Truly Hard Seltzer brand despite efforts to grow in that category. The Boston Beer share lost 3.3% pre-market.

Whirlpool – The device manufacturer's shares fell 3.4% early on the market after warnings were given of “increased” supply restrictions. Whirlpool reported adjusted quarterly earnings of $ 6.68 per share, beating the consensus estimate of $ 6.12, but revenue fell short of forecast.

Digital World Acquisition – SPAC, which is merging with Trump Media & Technology Group, is up another 59.8% in premarket after more than quadrupling on Thursday. The company founded by former President Trump is planning a beta rollout of its social network next month.

Mattel – Mattel rose 7.5% in pre-trading after the toy maker said supply chain disruptions wouldn't prevent it from having a strong holiday season. Mattel also beat estimates for sales and earnings, reporting adjusted quarterly earnings of 84 cents per share compared to a consensus estimate of 74 cents.

Honeywell – The industrial conglomerate beat estimates by 3 cents with adjusted quarterly earnings of $ 2.02 per share, although revenue fell slightly short of forecast. Honeywell said it is seeing strong growth in all of its segments but is still facing major supply chain challenges.

American Express – The financial services giant earned $ 2.27 per share in the third quarter, beating the consensus estimate of $ 1.80, with revenue also beating Wall Street projections. The results were driven in part by the spending of record card members. American Express gained 1.4% in the premarket.

Urban Outfitters – The apparel retailer's stock rose 2.7% on the premarket after Citi upgraded it from neutral to buy, citing a more favorable risk / reward profile after the stock fell 25% since Urban Outfitters last posted quarterly results in August.

Zoom Video Communications – J.P. Morgan Securities has upgraded the stock from neutral to overweight, stating that the stock is already reflecting a slowdown in remote video communications following the pandemic. The company said growth will bottom out this quarter and then accelerate due to increased corporate adoption. Zoom gained 2.9% in pre-trading.

VF Corp. – The maker of The North Face and other clothing brands slumped 8.1% in the premarket after missing both sales and earnings estimates for the last quarter. VF said it is seeing accelerated demand but its recovery has been hampered by further pandemic-related disruptions.

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