AT&T, American Airlines, Blackstone and more
Check out the companies making headlines before the bell:
AT&T (T) – AT&T rose 2.4% in premarket trading after reporting better-than-expected third-quarter earnings and revenue. The company said wireless revenue rose 5.6%, the best quarterly improvement in more than a decade, and postpaid phone net profit came in higher than expected.
American Airlines (AAL) – American Airlines beat top and bottom line estimates for the third quarter as travel demand continued to increase despite economic concerns. US stocks jumped 2.6% in premarket trading.
Black stone (BX) – Blackstone added 1% in premarket action after better-than-expected quarterly results. Distributable earnings fell 16% from a year ago, partly due to the market downturn.
Dow Inc. (DOW) — The chemical maker’s shares fell 2.5% in premarket trade, despite a third-quarter top and bottom line, with investors focusing on higher energy costs hurting Dow’s profit margins.
Tesla (TSLA) — Tesla fell 5.3% in premarket trading after it reported lower-than-expected quarterly revenue and cut its full-year delivery target. The electric car manufacturer reported a profit that was better than expected for the quarter.
IBM (IBM) — IBM rose 3.3% in off-hours trading after reporting a top and bottom line for the latest quarter and raising its full-year earnings outlook. IBM saw improved results in several business segments, including software, consulting and infrastructure.
Las Vegas Sands (LVS) – Las Vegas Sands reported a bigger-than-expected loss for the third quarter, while revenue beat analysts’ forecasts. The casino operator’s results continue to be affected by China’s Covid-19 policy, which is pressuring operations in Macau. However, Las Vegas Sands shares rose 1% in premarket trading.
Allstate (ALL) – Allstate fell 10.3% in the premarket after the insurer said it would report a third-quarter loss. Catastrophe losses will increase for the quarter, mainly due to the impact of Hurricane Ian, which hit in September.
WD-40 (WDFC) — WD-40 fell 6.3% in premarket action after saying inflation will affect the lubricant maker’s ability to meet its 55% gross margin target.
Alcoa (AA) – Alcoa shares fell 10.7% in premarket trading after the aluminum producer reported an unexpected third-quarter loss. A fall in aluminum prices and higher costs affected Alcoa’s results.
