Stocks making the biggest moves premarket: American Express, Procter & Gamble, Netflix, CVS Health and more
Check out the companies that made headlines before the bell. Procter & Gamble — The stock fell 0.8% after reporting weaker-than-expected earnings. The household goods maker posted revenue of $21.74 billion while analysts polled by LSEG had estimated $21.91 billion. The company blamed the miss on lower demand in China. Adjusted earnings per share of $1.93 topped estimates of $1.90 per share. Netflix — Shares popped 6.3% after the streaming giant beat Wall Street's third-quarter expectations. Netflix reported earnings of $5.40 per share on revenue of $9.83 billion, while analysts polled by LSEG had forecast earnings of $5.12 per share on revenue of $9.77 billion. The company saw a 34% quarter-over-quarter jump in its ad-supported membership levels. CVS Health – Shares fell 11% after the drug store chain announced that longtime executive David Joyner would replace Karen Lynch as CEO. CVS also guided for third-quarter adjusted earnings between $1.05 and $1.10 a share, below the $1.69 a share expected by analysts surveyed by FactSet. WD-40 — Shares of the maintenance products maker fell 4% after a disappointing fiscal fourth-quarter earnings report. The company reported earnings of $1.23 per share, versus the FactSet consensus forecast of $1.34 earnings per share. Full-year earnings guidance of between $5.20 and $5.45 per share was also below estimates for $5.69 per share. Western Alliance Bancorp – The regional bank's stock fell more than 4%. Net interest income fell 3% in the third quarter, despite LSEG posting a top-line beat of $823 million in revenue versus analysts' estimates of $808 million. American Express – Shares of the credit card company fell 3.4% on a mixed earnings report. Revenue of $16.64 billion fell short of the LSEG consensus forecast for $16.67 billion. However, earnings per share of $3.49 topped forecasts of $3.28. Apple – The tech giant advanced 2% after Bloomberg reported that iPhone sales in China rose 20% year over year in the first three weeks of sales. Consistent — The semiconductor materials stock fell more than 5% after B.Riley cut B.Riley from buy to neutral, citing limited upside potential after shares surged 142% in 2024. Estimates of $9.16 billion in revenue fell below the LSEG consensus forecast of $9.25 billion. On the other hand, adjusted earnings of 89 cents per share topped earnings of 88 cents per share. Intuitive Surgery — The stock added more than 6% in the third quarter after the maker of da Vinci surgical robots beat both the top and bottom lines. Intuitive Surgical earned $1.84 per share on revenue of $2.04 billion, while analysts polled by LSEG had forecast earnings of $1.63 per share on revenue of $2 billion. Ally Financial – The digital bank's stock fell nearly 1% despite earnings that beat analysts' estimates in the third quarter. The company announced adjusted earnings of 95 cents per share on revenue of $2.1 billion. Analysts polled by FactSet called for earnings of 52 cents per share and revenue of $2.03 billion. Crown Holdings – The consumer products packaging company ticked over 4% after raising its full-year guidance. Crown Holdings is guiding for consolidated earnings per share that fall between $6.25 and $6.35 per share. Analysts expected FactSet to earn $6.15 per share. Adjusted earnings topped estimates in the third quarter, when revenue came in line with forecasts. Comerica – Shares of the mid-sized bank rose about 1% after a stronger-than-expected report for the third quarter. Comerica earned $1.17 per share and $1.33 per share on revenue of $534 million, compared with $527.9 million in revenue expected by analysts, according to FactSet. The net income of the bank has decreased year after year. – CNBC's Pia Singh, Sarah Min, Jesse Pound, Michelle Fox contributed reporting
