A sign is seen outside Facebook-owner Meta Platforms Inc’s startup physical store in Burlingame, California on May 4, 2022.
Brittany Hosea-Little | Reuters
Check out the companies making headlines ahead of time.
Meta – Social media share decreased by 22.8% Meta reported a revenue miss And a weaker-than-expected fourth-quarter forecast. Meta posted earnings of $1.64 per share on revenue of $27.71 billion. Analysts polled by Refinitiv had expected $1.89 a share on revenue of $27.38 billion. Concerns about rising costs to build Metaverse are also weighing on the stock.
Ford – Shares fell 1.7% after Ford It reported a net loss of $827 million in its most recent quarterCiting supply chain issues and costs after abandoning its autonomous vehicle unit Argo AI.
Honeywell – The stock advanced 4.6% after the industrial company beat earnings expectations for the third quarter, citing strong growth in its advanced materials, commercial space and building materials businesses.
caterpillar — Shares rose 5.1% after Caterpillar posted earnings on both the top and bottom lines. The construction machinery and equipment maker posted earnings of $3.95 per share on revenue of $14.99 billion. According to consensus estimates from Refinitiv, Caterpillar was expected to earn $3.16 per share on revenue of $14.33 billion.
Northrop Grumman — Northrop Grumman fell 3.8% after missing earnings expectations for its third quarter. The defense company posted revenue of $8.97 billion, compared with forecasts of $9.13 billion, according to consensus estimates compiled by Refinitiv.
Comcast – Telecom stocks rose 6.4% Comcast topped revenue and earnings expectations. Comcast earned 96 cents per share on revenue of $29.85 billion, compared with expectations of 90 cents per share on revenue of $29.65 billion, according to consensus estimates on Refinitiv.
McDonald’s – Up 2.5% after the fast food giant It beat expectations in its latest quarter. In contrast to other quick-service chains that have recently raised menu prices, McDonald’s said traffic at its U.S. restaurants is increasing even after raising prices.
Align technology — Shares of the Invisalign maker fell 19.7% after Align Technology posted a disappointing earnings report. The Invisalign maker posted earnings of $1.36 per share on revenue of $890 million. Analysts polled by Refinitiv had forecast earnings of $2.18 per share on revenue of $953 million.
sleep no — The stock plunged 26% after the sleep number posted a weak fourth-quarter outlook due to soft demand and semiconductor supply chain issues.
Service now – After slightly missing sales estimates, the software company ServiceNow rose 13.8% after topping revenue expectations in the third quarter, according to consensus estimates at FactSet.
Disclosure: Comcast is the owner of CNBC’s parent company, NBCUniversal.
