Meta, Ford, Honeywell, Caterpillar & more

A sign is seen outside the inaugural physical store of Meta Platforms Inc, owner of Facebook, in Burlingame, California, May 4, 2022.

Brittany Osée-Petit | Reuters

Find out which companies are making headlines before the bell.

Meta — Social media stock fell 22.8% after Meta reported shortfall and a weaker than expected fourth quarter forecast. Meta reported earnings of $1.64 per share on revenue of $27.71 billion. Analysts polled by Refinitiv had expected $1.89 per share on revenue of $27.38 billion. Concerns about increased spending to develop the Metaverse also hurt the title.

Ford – Shares fell 1.7% after Ford reported a net loss of $827 million in its most recent quarterciting supply chain issues and costs after the abandonment of its Argo AI autonomous vehicle unit.

Honeywell — The stock rose 4.6% after the industrial company beat third-quarter profit expectations, citing strong growth in the advanced materials, commercial aerospace and building products sectors .

caterpillar – Shares jumped 5.1% after Caterpillar reported higher earnings than higher and lower results. The construction machinery and equipment maker posted earnings of $3.95 a share on revenue of $14.99 billion. Caterpillar was expected to earn $3.16 a share on revenue of $14.33 billion, according to consensus estimates from Refinitiv.

Northrop Grumman – Northrop Grumman fell 3.8% after missing revenue expectations for its third quarter. The defense company reported revenue of $8.97 billion, versus a forecast of $9.13 billion, according to consensus estimates compiled by Refinitiv.

Comcast — The telecommunications stock jumped 6.4% after Comcast Exceeds Earnings and Revenue Expectations. Comcast reported earnings of 96 cents per share on revenue of $29.85 billion, versus expectations of 90 cents per share on revenue of $29.65 billion, according to consensus estimates on Refinitiv.

McDonald’s — The fast-food giant rose 2.5% after exceeding expectations in its last quarter. McDonald’s said traffic was increasing at its U.S. restaurants even after raising prices, unlike other fast-food chains that recently increased menu prices.

Alignment Technology – Shares of maker Invisalign fell 19.7% after Align Technology released a disappointing earnings report. The Invisalign maker reported earnings of $1.36 per share on revenue of $890 million. Analysts polled by Refinitiv were expecting earnings of $2.18 per share on revenue of $953 million.

sleep number – The stock fell 26% after Sleep Number issued a weak outlook for the fourth quarter due to weaker demand and semiconductor supply chain issues.

ServiceNow – ServiceNow jumped 13.8% after the software company beat third-quarter profit expectations, while reporting a slight drop in sales estimates, according to consensus estimates on FactSet.

Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC.

Leave a Comment

Your email address will not be published. Required fields are marked *