Stocks making the biggest moves premarket: Chevron, Exxon Mobil, Newell Brands and more

Stocks making the biggest moves premarket: Chevron, Exxon Mobil, Newell Brands and more

Check out the companies making headlines before the bell:

Chevron (CVX) – Chevron gained 2.1% in the premarket after posting its highest quarterly profit in 8 years amid surging energy prices. Chevron earned an adjusted $2.96 per share for the third quarter, beating the $2.21 consensus estimate, with revenue also beating Wall Street forecasts.

Exxon Mobil (XOM) – Exxon exceeded estimates by 2 cents with adjusted quarterly earnings of $1.58 per share, though revenue came in below analyst forecasts. Exxon was helped by stronger demand and higher prices, among other factors, and its profit was its highest in four years. Exxon added 1.5% in premarket trading.

Newell Brands (NWL) – The company behind consumer product brands like Rubbermaid, Sunbeam and Sharpie earned an adjusted 54 cents per share for the third quarter, 4 cents above estimates, with revenue slightly above forecasts. It also raised its full-year outlook despite supply chain and inflation issues, and its stock added 2% in premarket action.

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 beating analyst predictions. Like many other companies, Colgate said it faced higher costs for raw materials and logistics.

Momentive Global (MNTV) – The parent of SurveyMonkey agreed to be bought by customer service platform operator Zendesk (ZEN) for $4.13 billion in stock. Zendesk tumbled 18.5% in the premarket, while Momentive Global lost 5.7%.

Apple (AAPL) – Apple matched estimates with quarterly earnings of $1.24 per share, but revenue fell below analyst forecasts for the first time since 2016. Supply chain issues impacted the production of iPhones and other Apple products, and the stock fell 3.6% in the premarket.

Amazon.com (AMZN) – Amazon earned $6.12 per share for the third quarter, well below the $8.92 consensus estimate, with revenue also falling below forecasts. Like Apple, Amazon cited supply chain issues and also pointed to labor shortages, and Amazon shares slid 4.5% in premarket 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 global comparable-store sales fell short of Wall Street forecasts. Starbucks saw a particularly negative impact on its results from a resurgence of Covid-19 in the key China market. Starbucks slumped 5.2% in premarket action.

Gilead Sciences (GILD) – Gilead earned an adjusted $2.65 per share for its latest quarter, surpassing the $1.75 consensus estimate, while the drugmaker’s revenue exceeded forecasts by a comfortable margin. Gilead saw strong demand for its antiviral Covid-19 treatment remdesivir, but said full-year sales of its non-Covid drugs won’t reach earlier estimates and its stock lost 1.7% in the premarket.

U.S. Steel (X) – U.S. Steel surged 9.2% in premarket trading after it reported an adjusted quarterly profit of $5.36 per share, compared with a $4.85 consensus estimate. Revenue also came in above analyst projections as steel shipments surged, while U.S. Steel also raised its quarterly dividend to 5 cents per share from 1 cent, and announced a $300 million stock buyback.

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