Check out the companies making headlines before the bell. VF Corp – Shares soared nearly 20% after the North Face and JanSport parent company’s better-than-expected quarterly results. For its fiscal second quarter, the company posted adjusted earnings of 60 cents per share on revenue of $2.76 billion. Analysts surveyed by LSEG had expected earnings of 37 cents per share and revenue of $2.71 billion. VF Corporation also announced a quarterly dividend of 9 cents per share. Ford Motor Company – The automaker’s stock fell 7% after Ford hit the lower end of its previously announced full-year earnings outlook, even though it slightly beat analysts’ third-quarter estimates. Ford said it now expects adjusted EBIT to be approximately $10 billion. Ford is grappling with slowing demand, rising inventories and concerns about whether it will be able to cut costs this year. Cadence Design Systems – Shares rose more than 5% after the electronic design company’s third-quarter profit beat Wall Street expectations. LSEG said Cadence Design had earnings per share of $1.64 and revenue of $1.22 billion, excluding items, beating consensus estimates of $1.44 per share and revenue of $1.18 billion. The company also raised the midpoint of its 2024 non-GAAP earnings per share outlook. F5 – Cloud services stocks soared more than 10% after better-than-expected financial results. In its fourth fiscal quarter, F5 posted adjusted earnings per share of $3.67 on revenue of $747 million. Analysts had estimated sales of $731 million and earnings per share of $3.45 in the same period, according to LSEG. BP – Shares fell more than 2% after the British oil giant reported its worst quarterly results in nearly four years. The company reported an underlying replacement cost benefit of $2.3 billion in the third quarter. LSEG said this was better than the consensus estimate of $2.1 billion, but lower than the $2.8 billion in net income the company reported in the second quarter and the $3.3 billion in the third quarter a year ago. McDonald’s – The fast food chain reported third-quarter earnings and revenue that beat analysts’ expectations, and the company’s same-store sales reversed a decline from the previous quarter. Still, the stock fell more than 2% premarket. Pfizer – Shares rose 1.3% after the vaccine maker beat Street expectations and raised guidance, citing higher sales from coronavirus-related products. Pfizer posted adjusted earnings of $1.06 per share on revenue of $17.7 billion. Trex – Shares rose 7% after the composite decking maker beat Street expectations. Torex’s third-quarter adjusted earnings were 37 cents a share, beating analysts’ estimates of 32 cents a share polled by FactSet. Revenue also exceeded expectations, coming in at $233.7 million versus $225.4 million. Boot Barn – The Western clothing retailer’s stock fell more than 7% after the company’s second-quarter profit met expectations of 95 cents per share, according to LSEG. Meanwhile, sales exceeded consensus expectations. Boot Barn also said that CEO Jim Conroy will step down effective November 22nd, and head of digital John Hazen will become interim CEO. Mr. Conroy will join Ross Stores in December as the company’s next CEO. Cryptocurrency – Stocks related to the price of Bitcoin rose in pre-market trading as the cryptocurrency topped $70,000 for the first time since June. Cryptocurrency exchange operator Coinbase rose 3%. Bitcoin agency MicroStrategy rose 5% after hitting its highest level since March 2000 at Monday’s close. JetBlue – The company’s stock fell 7% after expectations called for a revenue contraction in the fourth quarter. JetBlue expects fourth-quarter sales to fall 3% to 7% from a year ago, worse than the 1.4% decline expected by analysts, LSEG said. JetBlue’s third-quarter results exceeded analysts’ expectations for both sales and final profit. DR Horton – Shares fell 10% after the homebuilder reported disappointing fourth-quarter results. Earnings were $3.92 per share, lower than the $4.17 per share expected by analysts polled by LSEG. Revenue was $10 billion, below the consensus estimate of $10.22 billion. Dr Houghton said changing interest rates may be causing some buyers to take a wait-and-see approach in the short term. Robinhood Markets – Shares rose more than 1% after the market closed on Wednesday after Mizuho raised its price target on the financial services platform ahead of the company’s third-quarter results. PayPal – Shares fell 3% after PayPal reported lower-than-expected third-quarter sales. Revenue was $7.85 billion, below the $7.88 billion expected by analysts polled by FactSet. Meanwhile, adjusted earnings per share came to $1.20, beating expectations of $1.07. Xerox — Shares fell more than 18% after the printer maker reported quarterly results that were far worse than expected. Xerox’s revenue was $1.53 billion, or an adjusted 21 cents per share. Analysts polled by Street Account had expected revenue of $1.63 billion and earnings of 51 cents per share. The company also lowered its full-year free cash flow forecast, expecting sales to decline 10% in 2024. Crocs – The stock fell about 12% despite the company’s better-than-expected third-quarter profits. Excluding items, Crocs earned $3.60 per share on revenue of $1.06 billion, beating consensus estimates of $3.10 per share on revenue of $1.05 billion, according to FactSet. Ta. However, the forecast range for the fourth quarter was lower than analysts expected. The company also revised its full-year forecast downward. — CNBC’s Lisa Kyrai Hung, Samantha Subin, Jesse Pound, Sarah Ming, Pia Singh, Tanaya Machel and Michelle Fox Theobald contributed reporting.
VFC, MCD, PFE, PYPL etc.
