Check out the companies that make the headlines before the bell:
JPMorgan Chase (JPM)-JP Morgan Chase reported a profit per share of US$3.74 in the third quarter, compared to the consensus estimate of US$3.00, and revenue exceeded Wall Street’s expectations. CEO Jamie Dimon (Jamie Dimon) said that although Delta variants and supply chain disruptions have had a negative impact on the economy, it performed strongly this quarter.
BlackRock (BLK)-This asset management company’s adjusted earnings per share for the third quarter was $10.95, exceeding the consensus estimate of $9.35. Although some fee reductions were implemented this quarter, revenue also exceeded expectations. Assets under management have grown, but they are lower than analysts’ expectations. BlackRock rose 2.6% before the market.
Delta Air Lines (DAL)-The airline beat expectations by 13 cents, adjusted quarterly earnings per share of 30 cents, and revenue also exceeded expectations. Delta’s quarterly profit is the first profit since before the pandemic, but it does expect a modest loss this quarter due to rising fuel costs. Delta Air Lines fell 1.6% before the market.
SAP (SAP)-After the German business software company raised its full-year outlook for the third time, SAP rose 5.3% in premarket trading. As more and more customers move operations to the cloud, upgrades will follow.
Plug Power (PLUG)-This hydrogen fuel cell manufacturer announced its cooperation with Airbus to achieve decarbonization of air travel and airport operations, and plans to select a US airport as the first “hydrogen hub” pilot airport before its listing The stock price rose by 7.1%.
Hasbro (HAS)-Hasbro CEO Brian Goldner (Brian Goldner) passed away after a few days of sick leave at the age of 58. The toy manufacturer did not disclose the cause of death, but Godner was diagnosed with prostate cancer in 2014. Hasbro’s stock price fell 1% before the market.
Qualcomm (QCOM)-Qualcomm announced a $10 billion share repurchase program. In addition to the remaining US$900 million in the repurchase program launched in July 2018, the chip maker’s newly announced repurchase has US$900 million left. The stock rose 1.8% before the market.
Apple (AAPL)-According to people familiar with the matter, due to global chip shortages, Apple may cut iPhone 13 production by as much as 10 million units. This will reduce the current plan by about 11%.
Vimeo (VMEO)-Vimeo stated that its total revenue in September increased by 33% from a year ago, the number of subscribers to the video software company increased by 14%, and the average revenue per user increased by 16%. Vimeo rose 3.6% in pre-market trading.
Sun Country Airlines (SNCY)-After the company announced the issuance of 8 million shares, Sun Country fell 5.7% before the market. Existing shareholders are selling shares, and the company will not receive any proceeds from this offering.
Sarepta Therapeutics (SRPT)-Sarepta fell 5.8% in premarket trading after issuing guidance below analyst expectations and announcing the issuance of $500 million in stock. Despite the positive results of the drug trial, the biotech company’s share price fell 8.1% on Monday, but rebounded 4.1% on Tuesday.