A customer chooses a bar of Dove soap, a Unilever product, in a Sainsbury’s supermarket in London, London UK
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Check out the companies making the headlines before Bell Thursday:
Netgear – Netgear shares fell 14.2% after the computer equipment maker reported lower-than-expected sales and earnings for its most recent quarter. The company also issued a forecast that fell short of analysts’ forecasts. Netgear said supply chain restrictions and factory closures due to Covid-19 had slowed its performance.
Unilever – Unilever reported better-than-expected sales and earnings for the second quarter, but the consumer goods giant also said a significant increase in raw material costs would hurt its profit margins for the full year. The shares fell 4.6%.
Whirlpool – Whirlpool reported adjusted quarterly earnings of $ 6.64 per share, beating the consensus estimate of $ 5.90, with the device maker’s revenue also beating Wall Street projections. Whirlpool also raised its guidance for the full year as consumer demand remains strong despite higher prices.
Dow Inc. – The materials science company’s shares rose 1.7% in the premarket after Dow Inc beat earnings estimates by 27 cents with quarterly earnings of $ 2.72 per share. Sales also exceeded forecasts as sales benefited from higher prices and scarce offers. Dow also sees a positive second half as the global economy improves.
AT&T – AT&T reported adjusted quarterly earnings of 89 cents per share, 10 cents above estimates, with revenue well above Wall Street projections. AT&T has gained more than expected cellular subscribers and has also seen a surge in signups for its various HBO services, and its stocks rose 1.2% in pre-trading.
DR Horton – The homebuilder stocks fell 4.4% ahead of its launch, despite the company posting unexpectedly strong gains. DR Horton earned $ 3.06 per share in the second quarter, compared to a consensus estimate of $ 2.81. The company also raised its revenue forecast for fiscal year 2021.
Southwest Airlines – Southwest stock lost 2.4% early on, as its 35 cents per share loss for the second quarter was higher than the 23 cents loss analysts had expected. Southwest’s revenue surpassed estimates, however, and the airline said it expects to remain profitable for the remainder of the year.
Blackstone Group – The private equity firm reported earnings per share of 82 cents for the second quarter, 4 cents above estimates. Blackstone benefited from a record year-over-year increase in its investments. Blackstone’s shares were up 1.6%.
Crocs – The shoe maker’s shares rose 8% after the company posted adjusted quarterly earnings of $ 2.23 per share, compared to a consensus estimate of $ 1.60. Sales also beat forecasts as Crocs said the brand is in high demand around the world.
Biogen – The drug maker earned an adjusted $ 5.68 per share for the second quarter, compared to a consensus estimate of $ 4.54, with revenue also above estimates. Biogen also raised its sales forecast for 2021, and its shares rose 1.3% on the premarket.
Texas Instruments – Texas Instruments beat earnings estimates by 22 cents with quarterly earnings of $ 2.05 per share. Sales also exceeded analyst forecasts. However, the chip maker issued a weaker-than-expected sales forecast for the current quarter, raising concerns about low inventory levels and manufacturing capacity. The share lost 4.6%.
Las Vegas Sands – Las Vegas Sands lost 26 cents a share, 10 cents more than Wall Street expected for the casino operator, and revenue also fell short of estimates. However, the company said it remains confident that the travel and tourism industries will recover. Las Vegas Sands fell 2.2%.