August 13, 2022

AT&T, DR Horton, Travelers, and more

AT&T, DR Horton, Travelers, and more

Check out the companies making headlines before the bell:

AT&T (T) — AT&T stock fell 1.8% in the primary market, despite beating estimates in both top and bottom earnings for the second quarter, as it cut its full-year free cash flow guidance. AT&T also reported a jump in quarterly wireless subscriber additions and raised its full-year forecast for wireless revenue growth.

Dr. Horton (DHI) — The homebuilder reported better-than-expected earnings for the fourth quarter, but revenue was lower than analysts’ expectations. The company lowered its full-year sales guidance on moderating demand. Shares fell 1.4 percent in pre-market trading.

travelers (TRV) — Travelers rose 4.3% in pre-market activity after reporting better-than-expected earnings and revenue for the second quarter. The upbeat performance came despite higher disaster losses and lower investment income.

American Airlines (AAL) – The US market fell 1.4% in pre-market after quarterly earnings matched estimates and revenue was essentially in line with expectations. The profit was the airline’s first since the pandemic began and the carrier expects the current quarter to be profitable as well.

Danaher (AED) – Medical, industrial, and services company profits and revenue in the second quarter were better than expected, as higher sales helped offset the increase in expenses. Danaher stock jumped 3.5% in pre-market trading.

Tesla (TSLA) — Tesla gained 2.7% in pre-market trading after posting better-than-expected earnings for the second quarter. Tesla’s revenue came in below expectations and saw profit margins shrink as it dealt with rising costs and supply chain disruptions.

carnival (CCL) — Carnival gained 12.1% in the primary market after announcing a $1 billion common stock offering. The cruise line operator plans to use the proceeds for general corporate purposes.

United Airlines (UAL) – United Airlines missed its top and final estimates for the second quarter and warned the carrier of the impact of higher jet fuel prices and a potential economic slowdown. United fell 6.8% in pre-market activity.

Alcoa (AA) – Alcoa stock rose 3.9% in premarket trading after posting better-than-expected second-quarter earnings as sales rose faster than costs. Alcoa also announced a $500 million share buyback program.

CSX (CSX) — CSX stock is up 3% in pre-market trading after beating upper and lower bound estimates for the second quarter. The railway operator is experiencing a huge rise in demand but is facing difficulties in hiring due to the tight labor market.