Market Movements: Notable Pre-Market Changes
Here’s a look at some of the companies making significant pre-market moves this morning.
Apple — Shares dropped by 0.6%, despite a strong report for the first quarter. The newly launched iPhone 17 model performed particularly well. Apple reported earnings of $2.84 per share, surpassing the anticipated $2.67. Revenues hit $143.76 billion, far exceeding the expected $138.48 billion. Annual iPhone sales rose by 23%, reaching $85.27 billion.
Chemron — The oil giant announced fourth-quarter profits that outperformed analysts’ predictions, benefitting from record oil production. Adjusted earnings were $1.52 per share, above the forecast of $1.45. However, the stock saw a slight decline in the previous session as sales of $46.87 billion did not meet expectations.
SanDisk — The data storage company provided optimistic guidance, which boosted its stock by 22%. SanDisk projects fiscal third-quarter adjusted earnings between $12 and $14 per share, while the FactSet consensus stands at $5.11. Their second-quarter results also surpassed Wall Street’s sales and profit estimates.
Visa — Although the financial giant reported solid first-quarter results, the stock fell by 1%. Visa’s adjusted profit was $3.17 per share, with revenue of $10.9 billion, driven by increased cross-border payments. This exceeded both the $3.14 earnings estimate and the revenue forecast of $10.69 billion.
Western Digital — Shares rose about 1% after the digital storage company issued a positive outlook for its fiscal third quarter. They expect adjusted earnings around $2.30 per share and revenue approximately $3.2 billion. Analysts had anticipated earnings of $1.96 per share and revenue of $2.96 billion.
Deckers Outdoor — Known for Ugg boots and Hoka sneakers, Deckers saw its stock climb by 10.9% after announcing guidance for 2026 that surpassed analyst expectations. They project earnings between $6.80 and $6.85 per share and revenues of $5.4–$5.43 billion, while the forecast was for earnings of $6.40 per share and $5.37 billion in sales.
Stryker — The medical device manufacturer’s stock grew by 1.6% after reporting fourth-quarter results that exceeded expectations. Stryker’s adjusted earnings were $4.47 per share, better than the FactSet consensus of $4.40, with revenue reaching $7.17 billion, above the expected $7.12 billion.
KLA Corporation — This semiconductor equipment maker’s stock fell over 7% following the announcement of fiscal third-quarter earnings that, excluding one-time items, are projected between $8.30 and $9.86 per share, slightly below the LSEG estimate of $8.80. They also forecast third-quarter sales of $3.2–$3.5 billion, compared to the expected $3.25 billion.
Verizon — The telecommunications company’s stock increased by 2% after reporting robust fourth-quarter sales and earnings. Verizon posted adjusted earnings of $1.09 per share, beating the anticipated $1.05. Their revenue was $36.38 billion, exceeding the $36.06 billion consensus estimate, along with a promising outlook for full-year adjusted EPS.
ExxonMobil — The oil giant’s stock dipped nearly 2%, despite exceeding Wall Street’s fourth-quarter expectations. Profits and sales fell due to plummeting oil prices. Exxon reported adjusted earnings of $1.71 per share and revenues of $82.31 billion, while analysts had predicted earnings of $1.68 per share and sales of $81.43 billion.
