Friday , September 17 2021

Skechers, Boston Beer, Snap, Twitter and more

Pedestrians walk past Skechers shoes on display in front of a store in San Francisco, California.

Getty Images

Check out the companies that made headlines before the bell on Friday:

American Express – American Express earned 3.3% after reporting quarterly earnings of $ 2.80 per share. That beat the consensus estimate of $ 1.66, and the income is also higher than the estimate. The results were helped by the release of credit reserves and increased spending on travel and entertainment.

Honeywell – The industrial conglomerate beat estimates by 8 cents with an adjusted quarterly earnings of $ 2.02 per share, with an estimate of revenue growth. Honeywell recorded growth in all of its businesses and received an incentive to recover in the areas hardest hit by the pandemic, such as commercial aviation. Honeywell also raised its forecast for the whole year.

Schlumberger – Schlumberger rose 2.2% after surpassing estimates at the top and bottom of the line due to a jump in service activities in the oil fields. Schlumberger came up 4 cents above the estimate with adjusted quarterly earnings of 30 cents per share.

Kimberly-Clark – The producer of consumer products reported a quarterly profit of $ 1.47 per share, which is less than the consensus estimate of $ 1.71, and revenues are approximately in line with forecasts. Kimberly-Clark also lowered its full-year earnings forecast, pointing to higher entry costs and continued pandemic-driven instability. Shares fell 3.7% in pre-sale.

Twitter – Twitter earned 4.5% in presale after beating estimates by 13 cents with an adjusted quarterly profit of 20 cents per share. Revenue exceeded Wall Street forecasts as ad sales rose 87% year-on-year. Twitter also gave an optimistic revenue forecast for the current quarter.

Intel – Intel reported adjusted quarterly earnings of $ 1.28 per share, beating the consensus estimate of $ 1.06, with chipmaker revenue also outperforming. However, Intel also issued a forecast that disappointed some investors and also said that the global chip shortage could last until 2023. Intel shares fell 2.2%.

Snap – Snap jumped 16.7% after social media company surprised analysts with quarterly earnings, earning an adjusted 10 cents per share amid a forecast of a loss of 1 cent per share. Revenue also beat estimates. Snap also reported higher-than-expected daily user metrics as well as an optimistic revenue forecast.

Skechers – Skechers exceeded the consensus of 52 percent and reported a quarterly earnings of 88 cents per share, and the footwear manufacturer also recorded better-than-expected earnings. Skechers said that workers returning to offices have increased the demand for their offer of “comfort technology”. Skechers gathered 7.1%.

Boston Beer – Boston Beer shares fell 20.3% after brewery Sam Adams cut its financial outlook for 2021, citing weaker-than-expected sales of its hard-seltered brands. In its most recent quarter, Boston Beer earned $ 4.75 per share, well below the consensus estimate of $ 6.69, and revenue also missed out.

Veoneer – Swedish auto parts maker climbed 55.3% in pre-sales after agreeing to be bought by Canadian rival Magna International for about $ 3.8 billion in cash. The deal will help Magna in its efforts to improve its driver assistance technology. Shares of Magna slipped 3.1%.

Capital One Financial – Capital One earned $ 7.62 per share in the last quarter, well above the 4.64 consensus estimate, and the financial services company also earned above analysts’ forecasts. The results are amplified by the benefit associated with credit losses. Still, shares of Capital One fell 1.4% in presale.

VeriSign – VeriSign fell 2 cents less than the consensus estimate with quarterly earnings of $ 1.31 per share, while the domain name registrar saw video revenue roughly in line with forecasts. Shares lost 0.6%.

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