Stocks with the biggest pre-market gains: CRWD, MRK, PYPL, JBLU | Wilnesh News
Check out the companies making headlines in pre-market trading. CrowdStrike — Delta Air Lines shares fell 5% after CNBC reported that it has hired legal counsel to seek damages from CrowdStrike and Microsoft after a software update in July caused widespread flight disruptions. WOODWARD — The aerospace and industrial equipment company’s fiscal third-quarter revenue fell short of Wall Street estimates, sending its shares down more than 11%. Woodward reported revenue of $847.7 million for the quarter, while analysts polled by FactSet forecast revenue of $853.3 million. F5 Inc. — Shares of F5 Inc. surged nearly 14% after the software company reported fiscal third-quarter revenue and profit that beat estimates. F5 reported adjusted earnings of $3.36 per share, compared with LSEG’s estimate of $2.97 per share. Revenue of $695 million also topped estimates of $686 million. Amkor Technology — Shares of the semiconductor packaging company edged down more than 6% after Amkor’s third-quarter outlook fell short of Wall Street expectations. Amkor expects fourth-quarter earnings to be between 42 cents and 56 cents per share, while analysts polled by FactSet had forecast 64 cents per share. Merck — The pharmaceutical giant issued weaker-than-expected full-year profit guidance, sending its shares down more than 1%. The company expects full-year net profit to be in a range of $7.94 to $8.04 per share. That was below FactSet’s estimate of $8.16 per share and below the company’s previous forecast. Lattice Semiconductor — Shares plunged 15.9% after second-quarter profit and current-quarter revenue guidance fell short of expectations. Lattice earned 23 cents a share, excluding items, on revenue of $124 million in the second quarter, while analysts polled by LSEG expected earnings of 24 cents a share and $130 million. Bank of America downgraded the stock to underperform from neutral, citing cooling growth prospects and an uncertain outlook. Pfizer — Shares of Pfizer rose 1.4% after the drugmaker reported better-than-expected second-quarter earnings and revenue. Pfizer also raised its full-year forecast. It currently expects adjusted earnings per share of $2.45 to $2.65 for this fiscal year, on revenue of $59.5 billion to $62.5 billion. Varonis Systems — Shares of Varonis Systems soared 10% after the data security company reported better-than-expected second-quarter results and issued stronger-than-expected guidance for the current quarter. Adjusted earnings of 5 cents per share were higher than the 2 cents per share loss forecast by analysts polled by FactSet. Revenue was $130.3 million, above the consensus estimate of $124.8 million. Symbolically, the automation company’s shares fell more than 19% after giving weak guidance for its fiscal fourth quarter. Symbiotic said it expects fiscal fourth-quarter revenue to be between $455 million and $475 million, compared with the FactSet consensus of $516.9 million. The company also reported fiscal third-quarter revenue of $491.9 million, topping Wall Street expectations of $464.6 million. Howmet Aerospace — The aerospace manufacturer reported second-quarter adjusted earnings of 67 cents per share, above the 60 cents expected by analysts polled by FactSet, sending its shares up 8%. The company’s revenue of $1.88 billion also beat estimates of $1.83 billion. In addition, Howmet increased its quarterly dividend, payable on Aug. 26, from 5 cents per share to 8 cents per share. The company, best known for developing Gorilla Glass used in iPhones, reported second-quarter earnings of 47 cents per share, slightly above the 46 cents expected by analysts polled by LSEG. However, profit guidance was broadly in line with analysts’ expectations. Archer-Daniels-Midland — Shares fell 2 after the produce maker reported second-quarter adjusted earnings of $1.03 per share, well below the LSEG analyst consensus of $1.22. %. ADM’s current revenue also missed expectations. JetBlue Airways — Shares of JetBlue Airways rose 4% after the airline said second-quarter adjusted earnings of 8 cents per share. Analysts had expected a loss. Revenue during the period was slightly better than expected. PayPal — Shares of PayPal rose 4% after the payments company said second-quarter adjusted earnings of $1.19 a share, well above the 99 cents a share expected by analysts polled by FactSet. PayPal also raised its outlook for 2024 and increased its stock buyback program. Procter & Gamble — The consumer products giant reported second-quarter revenue of $20.53 billion, missing the $20.74 billion expected by analysts polled by LSEG, sending its shares down 3%. According to LSEG, P&G’s adjusted earnings per share for the period were $1.40, higher than analysts’ expectations of $1.37 per share. Leidos — The stock rose more than 7% on better-than-expected second-quarter results. Leidos, which provides IT services to the US Pentagon, had earnings per share of US$2.63, excluding projects, on revenue of US$4.13 billion. Analysts polled by StreetAccount expected profits of $2.27 per share and revenue of $4.06 billion. The company also raised its full-year profit guidance. Zebra Technologies — Shares of Zebra Technologies rose 3% after the maker of trackers and computer printing technology reported second-quarter results that beat expectations. Zebra earned $3.18 per share (excluding certain items) on revenue of $1.22 billion. Analysts expected profits of $2.80 per share on revenue of $1.18 billion, according to StreetAccount. The company also raised its full-year profit guidance. —CNBC’s Michelle Fox, Hakyung Kim, Lisa Kailai Han, Alex Harring, Jesse Pound, Fred Imbert and John Melloy reported
