Check out the companies making headlines before the bell:
American Airlines (AAL) – American Airlines rose 10.5% in premarket trading after reporting a smaller-than-expected loss and forecasting profitability for the current quarter.
United Airlines (UAL) – United lost an adjusted $4.24 a share in the first quarter, up 2 cents from expectations, and the airline’s revenue also came in slightly below guidance. However, United expects to return to profitability this quarter as travel demand picks up and the stock is up 8.3% in premarket trading.
Blackstone (BX) – Shares of the private equity firm are up 4% premarket after reporting better-than-expected first-quarter earnings and revenues, helped by strong results from its real estate and lending businesses.
AT&T (T) – AT&T earned an adjusted 63 cents per share in the first quarter, 4 cents above estimates, and also beat revenue. Those numbers exclude results from the now-spun-off WarnerMedia unit, with AT&T benefiting from an increase in wireless revenue. AT&T is up 1.4% premarket.
Tesla (TSLA) – Tesla is up 7.4% in premarket trading after reporting a record quarterly profit and beating Wall Street’s top and bottom-line estimates. Tesla warned that production would be limited for the rest of the year due to shortages of computer chips and other parts, but expects shipments to increase.
Xerox (XRX) – Xerox plummeted 7.3% premarket after it reported adjusted quarterly earnings of 12 cents a share, 1 cent below consensus. The office equipment maker suffered from inflationary pressures and supply chain issues.
Dow Inc. (DOW) – The chemical maker’s stock gained 2.1% in premarket trading after beating estimates both up and down, helped by strong demand and higher prices.
Sleep Number (SNBR) – Shares of Sleep Number plunged 10.6% in premarket trading after missing both top and bottom earnings last quarter. The mattress company earned 9 cents a share, well below the consensus estimate of 33 cents, as supply chain issues hurt its results.
Carvana (CVNA) – Carvana lost $2.89 per share in its most recent quarter, more than the $1.44 per share loss analysts were expecting. Revenue beat estimates, but the online car seller reported a quarterly sales decline for the first time. Carvana is down 5.1% premarket.
Lam Research (LRCX) — Lam Research came in 11 cents short of estimates with adjusted quarterly earnings of $7.40 per share, and the chipmaker’s earnings also fell short of Wall Street forecasts. Lam’s spending rose as the company spent more on managing supply chain disruptions. Lam lost 1.3% in premarket trading.
CSX (CSX) – CSX beat estimates by 2 cents with quarterly earnings of 39 cents a share, and the railroad operator’s earnings also beat forecasts. CSX processed fewer shipments, but this was more than offset by an increase in shipping costs. CSX is up 2.1% in premarket trading.