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And More October 19, 2022 3 mins read

Stocks Making the Biggest Moves Premarket, Procter & Gamble, Travelers, Netflix and More

And More ı By Rochdi Rais

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stock market news

Here are the companies making headlines before the bell:

Procter & Gamble (PG) – The consumer products giant’s quarterly earnings of $1.57 per share beat estimates by 3 cents, with revenue also topping Wall Street forecasts. Results were helped by a 7% boost in organic sales, although P&G cut its full-year revenue forecast due to the impact of a stronger US dollar. P&G rose 1.7% in the premarket.

Travelers (TRV) – Travelers gained 1% in premarket trading after beating top and bottom line estimates for its latest quarter. The insurance company’s catastrophe losses rose from a year ago, but record insurance premiums helped its results.

Generac (GNRC) – The power equipment maker released preliminary third-quarter results that fell below Wall Street forecasts. Generac said residential sales were pressured during the quarter, and its largest clean-energy customer ceased operations and filed for bankruptcy. Generac tumbled 16.8% in the premarket.

Nasdaq (NDAQ) – Nasdaq added 1.5% in premarket action after reporting better-than-expected profit and revenue for the third quarter. Nasdaq saw strong demand for its various investment products as investors revamped portfolios in response to market volatility.

Netflix (NFLX) – Netflix soared 14% in premarket trading after reporting it added 2.4 million subscribers during its latest quarter. That was more than twice the video streaming service’s prediction and reversed a trend that saw it lose subscribers for the past two quarters.

Adobe (ADBE) – The software maker’s stock rose 1.7% in the premarket after it reaffirmed its prior current-quarter outlook, encouraging investors who have seen other tech companies cut their forecasts as sales decline.

JB Hunt Transport (JBHT) – JB Hunt reported better-than-expected profit and revenue for its latest quarter, but the logistics company said it is preparing for a subdued holiday season as shipping volumes decline. JB Hunt added 2.5% in premarket action.

United Airlines (UAL) – United Airlines rose 5.3% in premarket trading after reporting better-than-expected quarterly results and issuing an upbeat earnings forecast for the current quarter amid a continued surge in travel demand.

Intuitive Surgical (ISRG) – Intuitive Surgical rallied 10% in off-hours trading after its quarterly earnings and revenue topped Wall Street forecasts. The medical equipment maker’s results were helped by a roughly 20% jump in the number of procedures performed with its da Vinci robotic surgical devices.

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Rochdi Rais

Rochdi Rais is the Fractional Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

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