Market Movers in Pre-Market Trading

Here’s a look at some notable companies making headlines in pre-market trading:

• PepsiCo: The snack and beverage leader exceeded analysts’ expectations with their first-quarter results, causing their stock to rise by 1%. They reported adjusted earnings of $1.61 per share on revenues of $19.44 billion, while analysts had anticipated earnings of $1.55 per share and sales of $18.94 billion.
• Taiwan Semiconductor Manufacturing Co: Despite announcing strong first-quarter profits and sales, the chipmaker’s stock dipped by 1.7%.
• PPG Industries: The paint and coatings manufacturer saw a 6% increase in stock price after declaring global price hikes of up to 20% on its products. The company noted that these adjustments are already in progress and were spurred by rising costs in petrochemicals, energy, and transportation.
• Voyager Technologies: Shares surged by 7% after NASA chose the company for its seventh commercial astronaut mission to the International Space Station.
• SL Green Realty: The shares fell 2% following a first-quarter report that revealed funds from management at 84 cents per share, a drop from $1.40 per share a year earlier. However, they did report a net rental income of about $166 million, which was an increase from $144.5 million in the same quarter of the previous year.
• Travelers Companies: Shares dropped by 1.5%, despite exceeding expectations for earnings and revenue. They reported earnings of $7.71 per share and revenue of $11.92 billion, surpassing analyst predictions of $7.07 per share and $10.72 billion.
• JB Hunt Transport Services: The transportation company’s stock increased by 1% after reporting first-quarter earnings of $1.49 per share, which was above the FactSet consensus estimate of $1.44. Their operating revenue of $3.06 billion also topped expectations of $2.96 billion.
• Charles Schwab: The financial services provider reported first-quarter revenue of $6.48 billion, falling short of the $6.5 billion consensus predicted by analysts, leading to a 1% drop in stock price. Nevertheless, their adjusted earnings exceeded expectations.
• Flutter Entertainment: The parent company of FanDuel slid about 3% following a downgrade from buy to sell by Citi, which expressed doubts about Flutter’s growth potential.
• US Bancorp: Shares fell by 1% even though the regional bank reported first-quarter profits that beat expectations. Still, net interest income and margin didn’t meet forecasts; they reported net interest income of $4.26 billion, just shy of the $4.27 billion analysts had predicted.