Netgear, Unilever, Whirlpool, Crocs and more
A customer selects a bar of Dove soap, a Unilever product, in a Sainsbury’s supermarket in London, UK
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Check out the companies making the headlines before the bell Thursday:
Netgear – Shares of Netgear fell 14.2% after the hardware maker reported lower than expected sales and revenues for its most recent quarter. The company also gave indications below analysts’ forecasts. Netgear said supply chain constraints and plant closures due to Covid-19 held back its performance.
Unilever – Unilever reported better-than-expected sales and profits for the second quarter, but the consumer products giant also said a significant increase in raw material costs would hurt its profit margins for the full year. Its shares fell 4.6%.
Whirlpool – Whirlpool reported adjusted quarterly earnings of $ 6.64 per share, beating the consensus estimate of $ 5.90, with the home appliance maker also beating Wall Street expectations. Whirlpool has also raised its forecast for the full year as consumer demand remains strong even in the face of rising prices.
Dow Inc. – Shares of the materials science firm were up 1.7% pre-market, after Dow Inc topped earnings estimates by 27 cents with quarterly earnings of $ 2.72 per share. Revenue also exceeded expectations as sales benefited from higher prices and a tight supply. Dow is also enjoying a bullish second half as global economies improve.
AT&T – AT&T reported adjusted quarterly earnings of 89 cents per share, 10 cents above estimates, with earnings also above Wall Street projections. AT&T added more wireless subscribers than expected and also saw an increase in signups to its various HBO services, and its shares climbed 1.2% in pre-market trading.
DR Horton – Shares of the homebuilder fell 4.4% in pre-market action despite the company reporting stronger-than-expected earnings. DR Horton earned $ 3.06 per share for the second quarter, up from a consensus estimate of $ 2.81. The company has also raised its revenue forecast for fiscal 2021.
Southwest Airlines – Shares of Southwest fell 2.4% pre-market as its second-quarter loss of 35 cents a share was larger than the 23-cent loss analysts expected. Southwest’s revenue exceeded estimates, however, and the airline said it expected to remain profitable for the remainder of the year.
Blackstone Group – The private equity firm reported second quarter earnings per share of 82 cents, 4 cents above estimates. Blackstone has enjoyed a record surge in the value of its investments compared to a year ago. Blackstone shares climbed 1.6%.
Crocs – Shares of the shoe maker rose 8% after the company posted adjusted quarterly earnings of $ 2.23 per share, up from a consensus estimate of $ 1.60. Revenue also exceeded expectations, with Crocs saying there was strong demand for the brand around the world.
Biogen – The drugmaker earned adjusted $ 5.68 per share for the second quarter, up from a consensus estimate of $ 4.54, with revenue also above estimates. Biogen also raised its revenue forecast for 2021 and its shares rose 1.3% in pre-release.
Texas Instruments – Texas Instruments topped earnings estimates by 22 cents with quarterly earnings of $ 2.05 per share. Revenue also exceeded analysts’ forecasts. However, the chipmaker has released a weaker-than-expected revenue forecast for the current quarter, raising concerns over weak inventory and manufacturing capacity. The title lost 4.6%.
Las Vegas Sands – Las Vegas Sands lost 26 cents a share, 10 cents more than Wall Street expected for the casino operator, and revenues were also lower than estimated. However, the company said it remains confident about a rebound in travel and tourism. Las Vegas Sands fell 2.2%.