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Stocks Making the Biggest Premarket Moves: Meta Platforms, Honeywell, Merck, Southwest Airlines and More

April 25, 2024
minute read

Before trading begins, keep an eye on the notable movements from various companies:

Meta Platforms, the parent company of Facebook, experienced a significant drop of over 14% due to its second-quarter revenue forecast falling short of expectations. However, its first-quarter earnings and revenue exceeded analysts' predictions.

Honeywell, a leading industrial stock, saw a 2.2% increase in premarket trading following its report of earnings per share at $2.25, surpassing analysts' estimates. Revenue for the quarter also exceeded expectations.

Merck, a pharmaceutical giant, observed a 2.1% rise as it reported stronger-than-expected earnings for the first quarter. Merck's earnings per share and revenue exceeded analyst forecasts.

Southwest Airlines witnessed a nearly 9% decline in shares after missing both revenue and earnings expectations for the quarter. The airline attributed this to adjusted losses per share wider than anticipated, coupled with lower-than-expected revenue. Additionally, Southwest warned of growth pressures due to Boeing's airplane delays extending into 2025.

American Airlines, despite a wider-than-expected first-quarter loss, saw its shares increase by about 6%. The airline's optimistic outlook for the second quarter, with expected earnings per share above average consensus estimates, contributed to the positive market response.

Chipotle Mexican Grill experienced a 3% increase in its shares after surpassing Wall Street's first-quarter estimates, particularly in same-store sales.

International Business Machines (IBM) faced an 8.5% decline in shares following a disappointing first-quarter revenue report. While revenue fell short of consensus estimates, IBM's bottom line beat analyst expectations. The company also announced its acquisition of HashiCorp for $6.4 billion, with HashiCorp shares responding positively.

Caterpillar, a construction equipment maker, saw a 4% drop after reporting revenue below analysts' estimates for the most recent quarter, despite earnings per share exceeding expectations.

Deutsche Bank's U.S.-traded shares rose by 6% as both revenue and profit exceeded expectations, driven by a recovery in its investment banking segment.

Comcast experienced a 0.5% decline in shares despite reporting better-than-expected first-quarter results. The decrease was attributed to a decline in broadband subscribers, although revenue growth was supported by rate increases.

Align Technology, an orthodontics company, saw a 5.1% increase in shares after surpassing analysts' expectations for the first quarter. Both adjusted earnings per share and revenue exceeded analyst forecasts.

ServiceNow, a workflow management company, observed a 4% decrease in shares despite narrowly beating analysts' revenue expectations in the first quarter. While revenue slightly exceeded forecasts, adjusted earnings surpassed estimates as well.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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