United Airlines, Netflix, Morgan Stanley and more

Find out which companies are making headlines before the bell.

United Airlines widebody Boeing 777-200 seen during takeoff and flight phase, passing air traffic control tower as the plane departs from Amsterdam Airport Schiphol AMS to Houston IAH in the United States United States of America as flight UA21.

Nicolas Economou | Nurphoto | Getty Images

United Airlines – The airline fell 0.9% in premarket after reporting a net loss for the first quarter. United posted a loss of 63 cents per share, 10 cents lower than the 73 cent loss estimated by analysts polled by Refinitiv. The company reported revenue of $11.43 billion, slightly higher than the $11.42 billion estimate.

Interactive Brokers Group — Shares of the electronic brokerage fell 3.7% after the company reported a first-quarter profit shortfall. The company posted earnings per share of $1.35, lower than the consensus estimate of $1.41 from analysts polled by Refinitiv.

Netflix – Shares of the streaming giant fell more than 2% after the company reported mixed results on the delayed rollout of its crackdown on password sharing, which was originally scheduled for the first quarter. Revenue is slightly below the Refinitiv analyst consensus, although earnings beat estimates.

Western Alliance – Shares of the battered regional bank jumped more than 20% in premarket trading after Western Alliance said its deposits rebounded in April from an 11% drop in the first quarter. Wedbush upgraded the stock to outperform after Western Alliance’s quarterly report, despite the bank’s net profit falling more than 50% from the previous quarter.

Travelers – Insurance stock rose more than 3% before the bell after beating Wall Street expectations on both the top and bottom. The Dow Jones Industrial Average component reported adjusted earnings of $4.11 per share on $9.40 billion in net premiums.

Intel – Shares fell nearly 2% after the semiconductor maker announced it would discontinue its series of Bitcoin mining chips, Blockscale, after just one year in production.

Abbott Laboratories – The medical device company rose 2.8% after beating revenue and profit expectations and reaffirming guidance. The company reported earnings per share of $1.03 on revenue of $9.75 billion for the first quarter, while analysts polled by FactSet expected earnings per share of 99 cents on revenue of $9.75 billion. $9.67 billion business. The company said it still expects full-year adjusted earnings per share to be between $4.30 and $4.50, in line with analysts’ consensus estimate of $4.39. .

US Bancorp – Shares of the bank rose 1.7% after reporting a first-quarter earnings and revenue overrun. US Bancorp posted earnings of $1.16 per share and revenue of $7.18 billion. Analysts polled by Refinitiv had estimated earnings per share at $1.12 and revenue at $7.12 billion. Meanwhile, the bank reported that its quarter-end deposits were down 3.7% to $505.3 billion.

Rivian Automotive – The electric vehicle maker fell about 2% after being downgraded by RBC Capital Markets from outperforming the sector. The Wall Street firm remains constructive on the stock’s longer-term outlook, but sees limited catalysts to accelerate near-term profitability. He also halved his price target from $28 per share to $14.

ASML Holding – Shares of the chipmaker lost 2.6% in morning trading after the company reported that net bookings for the first quarter were down 46% year-over-year due to ” mixed signals” from customers as they worked on inventory. Shares fell despite ASML reporting a beating in earnings for the quarter.

Boeing – The industrial giant’s shares fell 0.6% pre-market after CEO Dave Calhoun said a flaw detected in some of its 737 Max planes would not hamper its supply chain plans for increase production of its best-selling airliner this year. The company revealed a flaw with some of its 737 Max planes last week and said it was likely to delay deliveries.

Morgan Stanley – Shares fell 3.2% after the bank announced its quarterly results. The investment bank and wealth manager posted earnings per share of $1.70 for the first quarter, higher than analysts’ estimate of $1.62 polled by Refinitiv. Overall revenue was $14.52 billion, higher than Refinitiv’s consensus estimate of $13.92 billion, as equities and fixed income trading units performed better than foreseen. One area of ​​growth was wealth management, where revenue was up 11% from a year ago. The shares, which have outperformed most other banks this year, fell 2% in early trading despite the results.

Ally Financial – Shares of the digital financial services company fell 1.3% after its first-quarter earnings and revenue fell short of Wall Street expectations. Ally posted earnings per share of 82 cents, while analysts had expected 86 cents per share, according to FactSet data. The bank’s total adjusted net income also fell below estimates, coming in at $2.05 billion versus FactSet analysts’ consensus estimate of $2.07 billion.

Intuitive Surgical – Shares jumped 8.1% after Intuitive Surgical reported an increase in profits and revenue. The company reported adjusted earnings per share of $1.23, beating a consensus estimate of $1.20 per share, according to FactSet. Revenue rose 14% year over year to $1.70 billion from estimates of $1.59 billion.

Tesla – Shares fell more than 2% in the pre-market after Tesla cut prices for some of its Model Y and Model 3 electric vehicles in the United States lowered prices in the United States this year.

Zions Bancorporation – The regional bank’s stock jumped nearly 4% in pre-market ahead of its earnings report after the bell on Wednesday. Investors could become optimistic after its counterpart Western Alliance said in the first quarter that deposits have stabilized since the collapse of Silicon Valley Bank last month.

CDW – Shares of the computer company plunged 10.6% after it released a weaker-than-expected preliminary quarterly earnings report. CDW released a quarterly revenue forecast of $5.1 billion, which is lower than FactSet’s consensus analyst estimate of $5.58 billion. The company said it was significantly affected by more cautious buying amid economic uncertainty. It also released guidance for its full-year earnings to fall “slightly below” 2022 levels.

Citizens Financial Group – Shares fell nearly 4% after the company’s first-quarter earnings disappointed investors. Citizens Financial’s earnings per share were $1, while analysts had estimated it at $1.13, according to Refinitiv data. The company’s revenue of $2.13 billion also fell short of analysts’ expectations of $2.14 billion. Citizens Financial reported a 4.7% drop in deposits to $172.2 billion.

– CNBC’s Alex Harring, Tanaya Macheel, John Melloy, Michelle Fox, Yun Li, Jesse Pound and Kristina Partsinevelos contributed reports

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