In this photo illustration a Procter and Gamble logo seen displayed on a smartphone with stock market percentages in the background.
Omar Marks | Light Rocket | Getty Images
Check out the companies making headlines before the bell:
Procter & Gamble Company – Shares are up about 1.5% premarket after the consumer goods giant’s earnings and revenue for the fiscal third quarter beat Wall Street expectations. Procter & Gamble also raised its guidance for fiscal 2023 organic sales growth to 6% from its previous guidance of 4% to 5%.
CSX Corporation — Shares rose 2.4% after CSX’s first-quarter results beat expectations. The transportation company reported 48 cents a share on revenue of $3.71 billion. Analysts polled by Refinitiv had expected earnings of 43 cents a share on revenue of $3.58 billion.
WR Berkley — The commercial insurer’s stock fell 3% after it posted $2.49 billion in net earned premiums in the first quarter. That’s less than the $2.53 billion that analysts were expecting, according to FactSet’s consensus estimates. The company also reported operating earnings per share of $1, down from $1.10 per share a year ago.
PPG Industries — Shares rose 0.8% premarket after PPG Industries released a better-than-expected second-quarter guidance. The paint maker expects adjusted earnings of $2.05 to $2.15 per share, ahead of analyst estimates of $1.96 per share.
ContextLogic — Shares of ContextLogic are up 16% in premarket trading after the online e-commerce platform announced a $50 million share buyback program.
Regions Financials – Shares rose 0.6% after the company reported mixed quarterly results. The regional bank posted earnings per share that missed estimates, while earnings came in in line with Refinitiv’s consensus estimates. It did, however, post net interest income of $1.42 billion, higher than FactSet’s consensus estimate of $1.4 billion.
Schlumberger NV – The energy stock fell 0.6% even after the drilling company beat expectations for first-quarter sales and earnings. The company reported adjusted earnings of 63 cents per share on sales of $7.74 billion. That’s more than consensus expectation for earnings per share of 60 cents on sales of $7.44 billion, according to Refinitiv.
Freeport-McMoRan — Shares of the mining company fell 1.1% premarket ahead of Freeport-McMoran’s conference call to discuss the latest earnings results.
AT&T – Telecom stock rose 0.8% after HSBC upgraded AT&T to a buy rating. The Wall Street firm recommends investors buy shares of the telecoms giant, which have fallen sharply the previous day due to a collapse in sales.
Philip Morris International – The stock rose 0.3% after Goldman Sachs said it remains upbeat on Philip Morris International even after the tobacco stock’s sharp drop in earnings. The company reiterated its buy recommendation.
– CNBC’s Michelle Fox contributed to the coverage