Check out the companies making headlines before the market opens. Meta Platforms — Shares of Meta Platforms plunged more than 14% after the parent company of Facebook issued lower-than-expected second-quarter revenue guidance. However, first-quarter profit and revenue were both higher than analysts expected. Honeywell – The industrial stock rose 2.2% in premarket trading after the company reported earnings of $2.25 per share, beating LSEG analysts’ consensus estimate of $2.17. Revenue for the quarter was $9.11 billion, missing analysts’ expectations of $9.03 billion. Merck — Shares of Merck rose 2.1% after the pharmaceutical giant reported stronger-than-expected first-quarter profit. Merck’s adjusted earnings per share were $2.07 on revenue of $15.78 billion. Analysts polled by LSEG forecast $1.88 per share and revenue of $15.2 billion. Southwest Airlines – Shares fell nearly 9% as revenue and profits fell. The company reported an adjusted loss of 36 cents per share, higher than LSEG’s forecast of a loss of 34 cents. Revenue of $6.33 billion was also below expectations of $6.42 billion. Southwest Airlines, one of Boeing’s largest customers, warned that Boeing plane delays would put pressure on its growth in 2025. American Airlines had an adjusted loss of 34 cents per share, while analysts polled by LSEG expected a loss of 29 cents per share. However, American Airlines said it expected second-quarter earnings per share of $1.15 to $1.45, well above the market average estimate of $1.18. Chipotle Mexican Grill – The fast-food chain’s first-quarter results topped Wall Street estimates, sending its shares up 3%. Same-store sales grew 7%, exceeding StreetAccount’s forecast of 5.2%. International Business Machines — The software, hardware and consulting company’s shares fell 8.5% after a disappointing first-quarter revenue report. IBM’s revenue of $14.46 billion fell short of consensus estimates of $14.55 billion, but beat analysts’ net profit estimates polled by LSEG. The company said foreign exchange would create a 2 percentage point headwind to revenue growth in 2024. IBM also agreed to acquire HashiCorp for an enterprise value of $6.4 billion. HashiCorp shares rose about 4.4%. Caterpillar – The construction equipment maker reported revenue of $15.8 billion in its most recent quarter, missing analysts’ expectations of $16.04 billion, according to LSEG, and shares fell 4%. The company earned $5.60 per share, 46 cents above forecasts. Deutsche Bank – Shares of Deutsche Bank rose 6% in U.S. trading as revenue and profit beat expectations as investment banking recovered. Comcast — Shares fell 0.5% after the cable TV giant reported better-than-expected first-quarter results but a drop in broadband subscribers. Comcast reported adjusted earnings of $1.04 per share on revenue of $30.06 billion. Analysts polled by LSEG expected earnings of 99 cents per share on revenue of $29.81 billion. While subscriber numbers fell, higher rates helped revenue growth. Align Technology — The orthodontic company’s first-quarter results beat analysts’ expectations, sending its shares up 5.1%. Align reported adjusted earnings of $2.14 per share on revenue of $997.4 million, above the $1.97 per share on revenue of $974 million expected by analysts polled by LSEG. ServiceNow — The workflow management company’s first-quarter revenue slightly topped analysts’ forecasts, sending its shares down 4%. Revenue was $2.6 billion, slightly ahead of Wall Street’s forecast of $2.59 billion, according to LSEG. Adjusted earnings also beat expectations. Revealed: Comcast is the parent company of NBCUniversal and CNBC. —CNBC’s Tanaya Macheel, Samantha Subin, Jesse Pound, Pia Singh and Alex Harring contributed reporting
