Pedestrians walk past Skechers shoes on display outside a store in San Francisco, California.
Check out the companies making the headlines before Bell Friday:
American Express – American Express was up 3.3% after announcing quarterly earnings of $ 2.80 per share. That beat the consensus estimate of $ 1.66, with sales also above estimates. The release of credit reserves and higher spending on travel and entertainment contributed to the results.
Honeywell – The industrial conglomerate beat estimates 8 cents with adjusted quarterly earnings of $ 2.02 per share, with sales also beating estimates. Honeywell saw growth across all of its businesses and was given a boost by a recovery in areas hardest hit by the pandemic, such as commercial aerospace. Honeywell has also raised its forecast for the year.
Schlumberger – Schlumberger rose 2.2% after beating sales and earnings estimates due to a recovery in oilfield services activities. Schlumberger’s adjusted quarterly profit of 30 cents per share was 4 cents above estimates.
Kimberly-Clark – The consumer goods maker reported quarterly earnings of $ 1.47 per share, down below its consensus estimate of $ 1.71, with sales roughly in line with projections. Kimberly-Clark also lowered its full year earnings forecast, citing higher input costs and ongoing pandemic volatility. The shares fell by 3.7% in the pre-trading period.
Twitter – Twitter gained 4.5% in the premarket after beating estimates by 13 cents with adjusted quarterly earnings of 20 cents per share. Revenue beat Wall Street forecasts as ad sales rose 87% year over year. Twitter also issued a positive revenue forecast for the current quarter.
Intel – Intel reported adjusted quarterly earnings of $ 1.28 per share, beating the consensus estimate of $ 1.06, with the chipmaker’s revenue also taking a hit. However, Intel also issued a forecast that disappointed some investors, also saying that global chip scarcity could last well into 2023. The Intel share fell 2.2%.
Snap – Snap rose 16.7% after the social media company surprised analysts with quarterly earnings, earning an adjusted 10 cents per share, while forecasting a loss of 1 cent per share. Sales also exceeded estimates. Snap also reported better-than-expected daily user metrics and an optimistic sales forecast.
Skechers – Skechers beat the consensus estimate of 52 cents, reporting quarterly earnings of 88 cents per share, with the shoe maker also posting better-than-expected sales. Skechers said workers returning to offices have increased demand for its “comfort technology” offerings. Skechers was up 7.1%.
Boston Beer – Boston Beer shares fell 20.3% after the Sam Adams brewer cut its financial outlook for 2021, leading weaker-than-expected sales of its hard seltzer brands. Last quarter, Boston Beer earned $ 4.75 per share, well below the consensus estimate of $ 6.69, with sales also falling short of projections.
Veoneer – The Swedish auto parts maker jumped 55.3% ahead of its launch after agreeing to be bought by Canadian rival Magna International for approximately $ 3.8 billion in cash. The deal will support Magna in its efforts to improve its driver assistance technology. The Magna share lost 3.1%.
Capital One Financial – Capital One earned $ 7.62 per share in the most recent quarter, well above the consensus estimate of $ 4.64, and the financial services firm also posted revenue above analyst projections. The results were fueled by a benefit related to loan defaults. Nevertheless, the Capital One share lost 1.4% before the market.
VeriSign – VeriSign fell 2 cents below consensus estimates with quarterly earnings of $ 1.31 per share, with domain name registrar revenue roughly in line with projections. Shares lost 0.6%.