A sign is seen outside the first brick-and-mortar store of Facebook owner Meta Platforms Inc in Burlingame, California, on May 4, 2022.
Brittany Hosea – Jr. | Reuters
Check out the companies making headlines before the bell.
Yuan — Social media stocks fell 22.8% after Meta reported an earnings miss and a weaker-than-expected fourth-quarter forecast. Meta reported earnings per share of $1.64 on revenue of $27.71 billion. Analysts polled by Refinitiv expected earnings of $1.89 a share on revenue of $27.38 billion. Concerns about increased spending to build Metaverse also hurt the stock.
ford — Shares fell 1.7% after Ford reported a net loss of $827 million in its most recent quarter, citing supply chain issues and costs after it ditched its self-driving car unit Argo AI.
Honeywell — The industrial company rose 4.6% after the industrial company beat expectations for third-quarter earnings, citing strong growth in its advanced materials, commercial aerospace and construction products businesses.
caterpillar — Shares soared 5.1% after Caterpillar reported earnings that beat the top and bottom lines. The construction machinery and equipment maker reported earnings of $3.95 per share on revenue of $14.99 billion. Caterpillar is expected to report earnings of $3.16 per share on revenue of $14.33 billion, according to a Refinitiv consensus estimate.
Northrop Grumman — Northrop Grumman fell 3.8% after third-quarter revenue missed expectations. The defense company reported revenue of $8.97 billion, compared with forecasts of $9.13 billion, according to a consensus estimate compiled by Refinitiv.
Comcast — Telecom shares rose 6.4% after Comcast beat earnings and revenue estimates. Comcast reported earnings of 96 cents a share on revenue of $29.85 billion, compared with expectations of 90 cents a share on revenue of $29.65 billion, according to a Refinitiv consensus estimate.
McDonald’s — The fast-food giant rose 2.5% after beating estimates in the most recent quarter. McDonald’s said foot traffic at its U.S. restaurants was growing even after raising prices, in contrast to other fast-food chains that have recently raised menu prices.
Alignment technology — Shares of the Invisalign maker plunged 19.7% after Align Technology released a disappointing earnings report. The Invisalign maker reported earnings of $1.36 per share on revenue of $890 million. Analysts polled by Refinitiv had forecast earnings of $2.18 per share on revenue of $953 million.
number of sleep — The stock fell 26% after Sleep Number issued a weak fourth-quarter outlook due to weak demand and semiconductor supply chain issues.
immediate service — ServiceNow surged 13.8% after third-quarter earnings beat estimates, according to the FactSet consensus estimate, even though reported sales came in slightly below expectations.
Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC.