Chevron, ExxonMobil, Newell Brands and more – News Couple

Chevron, ExxonMobil, Newell Brands and more

Check out the companies making headlines before the bell:

Chevron (CVX) – Chevron gained 2.1% in the primary market after posting its highest quarterly profit in 8 years amid rising energy prices. Chevron posted adjusted earnings of $2.96 per share for the third quarter, beating expectations of $2.21, with revenue also exceeding Wall Street expectations.

Exxon Mobil (XOM) — Exxon beat estimates by 2 cents with adjusted quarterly earnings of $1.58 per share, although revenue came in less than analysts’ expectations. Strong demand and high prices, among other factors, helped Exxon, and its earnings were at four-year highs. Exxon added 1.5% in pre-market trading.

Newell Brands (NWL) — The company behind consumer product brands like Rubbermaid, Sunbeam and Sharpie earned 54 adjusted cents per share for the third quarter, 4 cents above estimates, and revenue slightly above expectations. It also raised its full-year forecast despite supply chain issues and inflation, and its stock rose 2% in pre-market activity.

Colgate-Palmolive (CL) – The personal care products company beat estimates by 2 cents with adjusted quarterly earnings of 81 cents per share, and revenue also beat analyst expectations. Like many other companies, Colgate said it faced higher costs for raw materials and logistics.

Momentive Global (MNTV) – SurveyMonkey’s parent company has agreed to be acquired by customer service platform operator Zendesk (ZEN) for $4.13 billion in stock. Zendesk fell 18.5% in the pre-market, while Momentive Global lost 5.7%.

Apple (AAPL) – Apple matched estimates with quarterly earnings of $1.24 per share, but revenue fell below analyst expectations for the first time since 2016. Supply chain issues affected production of iPhones and other Apple products, and the stock fell 3.6% in the prior year. Put it on the market. (AMZN) – Amazon earned $6.12 per share in the third quarter, well below the consensus estimate of $8.92, with revenue also falling short of expectations. Like Apple, Amazon cited supply chain issues and also cited labor shortages, and Amazon shares fell 4.5% in pre-market trading.

Starbucks (SBUX) — Starbucks beat estimates by a penny with an adjusted quarterly profit of $1.00 per share, but the coffee chain’s revenue and comparable global store sales didn’t live up to Wall Street expectations. Starbucks has seen a particularly negative impact on its results from the resurgence of Covid-19 in the main China market. Starbucks shares fell 5.2 percent in pre-market activity.

Gilead Sciences (GILD) — Gilead earned $2.65 per share for its last quarter, topping the consensus estimate of $1.75, while the drugmaker’s revenue beat expectations by a comfortable margin. Gilead saw strong demand for its antiviral treatment for Covid-19, but said full-year sales of non-Covid drugs would not reach previous estimates and its stock lost 1.7% in the primary market.

US Steel (X) US Steel rose 9.2% in premarket trading after it reported adjusted quarterly profit of $5.36 per share, compared to a consensus estimate of $4.85. Revenue also came in higher than analysts’ expectations with steel shipments rising, while US Steel also raised its quarterly earnings to 5 cents per share from 1%, and announced a $300 million share buyback.

Western Digital (WDC) — The drive-in maker slipped 11.2% in pre-market trading after the company provided weaker-than-expected financial guidance for the current quarter. Western Digital, like other tech companies, is being hit by supply chain issues, even though it beat estimates by 4 cents with an adjusted quarterly profit of $2.49 per share.

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