Check out the companies making headlines before the bell:
Explode, Explode Shares of parent company Snapchat fell 19.5% in the primary market after the company warned of slowing growth due to recent changes to Apple’s iOS privacy rules. These rules make it more difficult to collect information from users and target ads. Snap beat estimates by 9 cents with adjusted quarterly earnings of 17 cents per share, but its revenue was slightly below Wall Street expectations.
Intel Corporation Intel fell 10% in pre-market trading after the chip maker expected lower profit margins over the next few years due to continued investments in new technology. Intel reported adjusted quarterly earnings of $1.71 per share, topping the consensus estimate of $1.11, but its sales were below analyst expectations.
Boston Bear Brewery Sam Adams reported an unexpected quarterly loss, due to lower sales of its Truly hard seltzer brand despite efforts to grow in that category. Boston Beer stock is down 3.3% in pre-market activity.
whirlpool – The hardware maker’s stock fell 3.4% in the pre-market, after a warning of “heavy” supply restrictions. Whirlpool Corporation reported adjusted quarterly earnings of $6.68 per share, beating expectations of $6.12 but sales did not live up to expectations.
Gaining the digital world – The SPAC index, which merges with Trump Media & Technology Group, rose another 59.8% in the primary market after quadrupling in trading Thursday. The company formed by former President Trump is planning a demo of its social network next month.
Mattel – Mattel stock rose 7.5 percent in pre-market trading after the toy maker said supply chain disruptions would not prevent it from having a strong holiday season. Mattel also beat estimates on the upper and lower bounds, reporting adjusted quarterly earnings of 84 cents per share, compared with a consensus estimate of 74 percent.
Honeywell The industrial conglomerate beat estimates by 3 cents with adjusted quarterly earnings of $2.02 per share, although revenue was slightly below expectations. Honeywell said it is seeing strong growth across all of its segments, but it continues to face tough supply chain challenges.
American Express The financial services giant posted earnings of $2.27 per share in the third quarter, beating expectations of $1.80, with revenue also beating Wall Street expectations. The results were driven in part by record card member spending. American Express stock rose 1.4% in the market.
Urban Outfitters –The apparel retailer’s stock added 2.7% in premarket after Citi upgraded it to “buy” from “neutral,” citing a more favorable risk-reward profile after a 25% drop in inventory since Urban Outfitters last reported quarterly earnings. Annually in August.
Zoom video communication JPMorgan Securities Brokerage inventory upgrade to “overweight” from “neutral,” saying the stock was already reflecting a post-pandemic slowdown in remote video communications. The company said growth will fall to its lowest levels this quarter and then accelerate due to increased adoption by businesses. Zoom is up 2.9% in pre-market trading.
VF Company. — The manufacturer of The North Face and other apparel brands slipped 8.1% in the pre-market, after missing both the higher and lower estimates for the fourth quarter. VF said it was seeing accelerated demand but its recovery was affected by more disruptions linked to the pandemic.