Good morning traders of the r/StockMarket sub! Here are your pre-market news movers on this Friday morning-
General Electric — The industrial conglomerate earned an adjusted 51 cents per share for the second quarter, five cents a share above estimates. Revenue also scored a beat. Revenue was up 15 percent over a year ago, although GE said the current business environment is being affected by a "volatile and slow growth economy."
TICKER SYMBOL: GE
Honeywell — Honeywell beat estimates by two cents a share, with quarterly profit of $1.66 per share. Revenue missed forecasts, however. Honeywell also raised the lower end of its full-year guidance. Separately, the industrial company announced it would split its automation and control solutions units.
TICKER SYMBOL: HON
Whirlpool — The appliance maker reported adjusted quarterly profit of $3.50 per share, 14 cents a share above estimates. Revenue also came in above forecasts. Whirlpool also raised its full-year earnings forecast, as it benefits from volume growth, cost cuts, and acquisitions.
TICKER SYMBOL: WHR
Stanley Black & Decker — The tool company came in 13 cents a share above estimates, with quarterly profit of $1.84 per share. Revenue was also slightly above estimates. The company raised its full-year forecast as well, as volume growth increases and profit margins expand. Separately, the company announced CEO John Lundgren will retire July 31, to be replaced by current President/COO James Loree.
TICKER SYMBOL: SWK
VF Corp. — The maker of North Face, Nautica, and other apparel brands earned an adjusted 35 cents per share for its latest quarter, one cent a share above estimates. Revenue fell short, however, and VF cut its sales forecasts for a number of key segments.
TICKER SYMBOL: VFC
Starbucks — Shares were are under pressure after adjusted earnings of 49 cents per share merely matched forecasts, and revenue was below Street forecasts. Investors are also focused on a lower-than-expected four percent increase in comparable-store sales in both the U.S. and globally.
TICKER SYMBOL:SBUX
AT&T — AT&T earned an adjusted 72 cents per share for the second quarter, matching estimates, while revenue was slightly below analyst projections. AT&T saw an increase in wireless subscribers, but also experienced a decline in pay-TV customers.
TICKER SYMBOL: T
21st Century Fox — The company announced the resignation of Roger Ailes as chairman and chief executive of the Fox News Channel, a development widely expected over the past few days in the aftermath of a sexual harassment lawsuit by former anchor Gretchen Carlson.
TICKER SYMBOL: FOXA
Chipotle Mexican Grill — Chipotle missed estimates by six cents a share, with quarterly profit of 87 cents per share. The restaurant chain's revenue also posted a miss, as comparable-store sales dropped more than expected. That came despite promotions and increased food safety measures in the aftermath of last year's food illness incidents.
TICKER SYMBOL: CMG
Visa — Visa came in three cents a share above estimates, with adjusted quarterly profit of 69 cents per share. Revenue was very slightly below forecasts. The credit card issuer also announced a $5 billion share repurchase program, as well as a new strategic partnership with PayPal.
TICKER SYMBOL: V
PayPal — PayPal matched forecasts, with adjusted quarterly profit of 36 cents per share. The payment service's revenue beat estimates, thanks to growth in its online payments business.
TICKER SYMBOL: PYPL
Pandora Media — Pandora lost 12 cents per share, narrower than the 16 cents a share analysts had expected. The online radio service's revenue missed forecasts, however, as did its current-quarter revenue guidance, owing to a drop in active listeners.
TICKER SYMBOL: P
Skechers — Skechers reported quarterly profit of 48 cents per share, four cents a share below estimates. Revenue also missed Street forecasts. The shoe maker was hurt by several factors, including currency fluctuations and a fire at a warehouse located in Malaysia.
TICKER SYMBOL: SKX
Boeing — Boeing said it would take a more than $2 billion charge against earnings for the second quarter, related to various aircraft programs, including the KC-46 tanker aircraft and 787 Dreamliner programs. Boeing is scheduled to report second-quarter earnings next Wednesday.
TICKER SYMBOL: BA
ConocoPhillips — ConocoPhillips will cut six percent of its workforce, about 1,000 workers, in the energy giant's U.S. and Canada operations.
TICKER SYMBOL: COP
Valeant Pharmaceuticals — The drugmaker said the Food and Drug Administration has raised issues regarding a Bausch & Lomb eye drop manufactured at a facility in Florida. The eye drop in question treats a certain type of glaucoma, and Valeant said it planned to address and resolve the concerns.
TICKER SYMBOL: VRX
Syngenta — Syngenta said it expected its deal to be bought by ChemChina to be completed by the end of the year. That statement came as the agricultural chemical maker reported lower-than-expected first-half profit.
TICKER SYMBOL: SYT
Amazon.com — Amazon is set to announced new investments in Italy worth at least $500 million, according to Reuters.
TICKER SYMBOL: AMZN
Advanced Micro Devices — AMD posted its first increase in sales in almost two years during the second quarter, thanks to increasing demand for videogame and graphics chips. AMD lost five cents per share for the quarter, compared to the eight cent a share consensus estimate. Revenue was above forecasts.
TICKER SYMBOL: AMD
Good trading day to everyone in here on this Friday! :)
Submitted July 22, 2016 at 08:53AM by bigbear0083 http://ift.tt/2a5hl8r
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