Check out the companies that are trending in pre-market trading. Eli Lilly — Shares fell 7.5% after the company missed analyst estimates for the third quarter and cut its full-year outlook. Eli Lilly had sales of $11.44 billion and earnings, excluding items, of $1.18 per share. Analyst estimates compiled by LSEG were for earnings of $1.47 per share and revenue of $12.11 billion. Supermicrocomputer — The company’s stock price fell more than 30% after it was revealed that its auditor had resigned. Ernst & Young’s auditors have been at odds with the company for months over governance and board independence. Caterpillar — Shares fell more than 5% earlier after the industrial giant announced lower-than-expected third-quarter profits. The company reported earnings of $5.17 per share, compared to analysts polled by LSEG who expected earnings of $5.34 per share. Sales also decreased by 4% from the same period last year to $16.11 billion. XPO — The logistics company beat Wall Street expectations for the third quarter, soaring 3.9%. Excluding items, XPO earned $1.02 per share. Analysts surveyed by FactSet had expected earnings of just 90 cents per share. Revenue for the three-month period was $2.05 billion, slightly above consensus of $2.02 billion. VinFast Auto — The electric car maker rose 5.1% after announcing strategic alliances with four groups in the Middle East. Bloomberg reported that Emirates Driving, one of the four organizations, will lead the financing for VinFast, with total investment expected to exceed $1 billion. Chipotle — Shares fell about 6% after the fast-casual chain reported lower-than-expected third-quarter earnings. Same-store sales, an important metric for restaurants, rose only 6%. Analyst estimates compiled by Street Account were 6.3%. Alphabet — The search giant’s stock soared nearly 7% after strong third-quarter profits that beat Wall Street expectations on revenue and bottom line. Google’s parent company also posted strong growth in cloud revenue, up about 35% year over year. Snap — The social media platform rose 10.5% after it beat revenue expectations and announced a $500 million share buyback program. Snap reported third-quarter adjusted earnings per share of 8 cents and revenue of $1.37 billion, while analysts surveyed by LSEG expected earnings of 5 cents and $1.36 billion, respectively. Qorvo — Semiconductor solutions stocks fell 19.5% after a weaker profit outlook for the current quarter overshadowed a better-than-expected report for the second fiscal quarter. In response to this report, Raymond James lowered its rating from “outperform” to “market perform” and removed its price target. Visa – Shares rose about 2% after the global payments company’s fourth-quarter results beat Wall Street expectations. Visa reported adjusted earnings per share of $2.71 on revenue of $9.62 billion. This beats the $2.58 per share and $9.49 billion in revenue that analysts surveyed by LSEG had expected. Additionally, the company increased its quarterly dividend by 13% to 59 cents. Advanced Micro Devices — The semiconductor company’s stock fell 8%. AMD announced after the bell Tuesday that it expects fourth-quarter revenue to be $7.5 billion, in line with LSEG’s consensus estimate and down 22% year-over-year. Third-quarter adjusted earnings per share met expectations and revenue exceeded expectations. Reddit — Social media stocks soared 22% after a better-than-expected third-quarter report showed a surprise turnaround to profits. Reddit reported earnings of 16 cents per share on revenue of $348.4 million. Analysts surveyed by LSEG had expected a loss of 7 cents per share on revenue of $312.8 million. Reddit also said fourth-quarter revenue is likely to be between $385 million and $400 million, above expectations of $357.9 million. First Solar — Shares fell 7% after the solar energy equipment supplier reported lower-than-expected third-quarter revenue and earnings and lowered its full-year outlook. First Solar reported earnings of $2.91 per share and revenue of $887.7 million. Analysts polled by FactSet had expected earnings of $3.16 per share and revenue of $1.08 billion. —CNBC’s Jesse Pound, Sarah Ming, Sean Conlon, Michelle Fox, Samantha Subin and Fred Imbert contributed reporting.
LLY, CAT, VFS, GOOGL etc.
