Check out the companies that make headlines before the clock:
Caterpillar (CAT) – Caterpillar earned an adjusted $ 2.69 per share for the fourth quarter, beating the consensus estimate of $ 2.26, with revenue also above analysts’ forecasts. Heavy equipment manufacturer sales increased by 23% from a year earlier despite supply chain restrictions. However, increased costs weighed on Caterpillar’s profit margins and the stock fell 1.4% in pre-market trading.
Chevron (CVX) – Chevron fell 2.8% in the pre-market after missing a bottom-line estimate for the fourth quarter, even though revenue exceeded analysts’ forecasts. Chevron earned an adjusted $ 2.56 per share compared to a consensus estimate of $ 3.12 despite higher oil and gas prices.
VF Corp. (VFC) – The company behind North Face, Vans and other apparel brands saw its stock fall 2% in pre-market trading after reducing its full-year sales forecast due to delivery delays and shortages of workers. VF reported better-than-expected profits and revenue for its most recent quarter.
Apple (AAPL) – Apple reported record profits and revenue for its most recent quarter, despite supply chain problems cutting sales. Apple earned $ 2.10 per share compared to a consensus estimate of $ 1.89, and revenue also topped Street forecasts. CEO Tim Cook said these supply chain challenges are showing signs of improvement. Apple stock rose 3.1% in the pre-market.
Visa (V) – Visa beat the estimates by 11 cents with an adjusted quarterly result of $ 1.81 per. The turnover of the payment network also beat the estimates. Visa was helped by a jump in travel expenses and continued growth in e-commerce, with the company first seeing quarterly revenue of over $ 7 billion. Visa rose 3.6% in pre-market trading.
Mondelez (MDLZ) – Mondelez fell a penny from analysts’ forecasts with adjusted quarterly earnings of 71 cents per share, even though the snack maker’s revenue beat estimates. Mondelez raised prices during the quarter, but that was not enough to offset increased costs for ingredients and logistics. Mondelez fell 2.2% in pre-market action.
Robinhood (HOOD) – Robinhood fell 13% in the pre-market after warning that revenue in the current quarter could drop significantly from a year ago. The trading platform operator reported a quarterly loss of 49 cents per share, 4 cents wider than estimates, although revenue was slightly above analysts’ forecasts.
Western Digital (WDC) – Western Digital shares fell 10.4% in pre-market trading after the disk drive manufacturer issued a weaker-than-expected outlook, and supply chain problems prevented it from fully meeting strong demand. Western Digital beat the top and bottom line estimates for its most recent quarter, earning an adjusted $ 2.30 per share compared to a consensus estimate of $ 2.13.
3M (MMM) – 3M will appeal a $ 110 million ruling to two U.S. Army veterans who said they suffered hearing loss after using 3M’s combat plugs. 3M has faced several lawsuits over allegations that the design of the earplugs is defective. The stock fell 1% in the pre-market.
Beazer Homes (BZH) – Beazer Homes rose 5.1% in pre-market trading after beating the top and bottom line estimates for the quarter ending December. Beazer earned $ 1.14 per share, well above the 67-cent consensus estimate, saying the housing market continues to see strong demand and limited supply