Prism Stocks making the biggest moves premarket: Meta Platforms, Honeywell, Merck, Southwest Airlines and more

Take a glance at businesses that made a splash before the market opens:

Meta Platforms

— The parent corporation of Facebook saw a more than 14% fall following its below-anticipated revenue guidance for Q2. However, both revenue and earnings for Q1 exceeded analysts’ predictions.

Honeywell

— The industrial giant’s stock was up 2.2% in premarket trade following the announcement of Q1 earnings per share at $2.25, outdoing the $2.17 LSEG analysts had predicted. Revenue for the quarter came in at $9.11 billion, surpassing the estimated $9.03 billion.

Merck

— The pharmaceutical behemoth had a 2.1% rise based on robust Q1 earnings that beat forecasts. Merck’s revenue stood at $15.78 billion with adjusted earnings valued at $2.07 per share, outstripping expectations of $1.88 earnings per share and $15.20 billion revenue.

Southwest Airlines

— A nearly 9% plunge was observed after the airline fell short on earnings and revenue. An adjusted loss of 36 cents per share was reported, greater than the anticipated 34 cents loss, and revenue of $6.33 billion, missing the projected $6.42 billion. Southwest, one of Boeing’s major customers, signaled that Boeing’s delayed airplane deliveries could impact its growth until 2025.

American Airlines

— Shares climbed roughly 6% despite a greater than expected Q1 loss. The airline recorded an adjusted 34 cents per share loss, compared to the anticipated 29 cents. However, the airline anticipates earnings per share to be between $1.15 and $1.45 in Q2, considerably above the average consensus projection of $1.18.

Chipotle Mexican Grill

— The company’s shares surged 3% following its outperformance of Wall Street’s Q1 predictions. Its same-store sales increased by 7%, surpassing the 5.2% projected by StreetAccount.

International Business Machines

— IBM’s shares dropped 8.5% on the back of a lower than expected Q1 revenue report. Their revenue of $14.46 billion missed the predicted $14.55 billion but managed to beat bottom-line estimates. IBM also agreed to purchase HashiCorp for an enterprise value of $6.4 billion, triggering a 4.4% rise in HashiCorp shares.

Caterpillar

— The construction equipment manufacturer’s shares fell by 4% as its Q1 revenue of $15.8 billion missed the estimated $16.04 billion. However, its $5.60 earnings per share outperformed predictions by 46 cents.

Deutsche Bank

— The bank’s U.S.-traded shares soared 6% after it posted higher than expected revenue and profits due to a revival in its investment banking segment.

Comcast

— Despite reporting better than expected Q1 results, shares dipped 0.5% due to a decrease in broadband subscribers. The cable behemoth’s adjusted earnings stood at $1.04 per share with total revenue at $30.06 billion, surpassing the predicted 99 cents earnings per share and $29.81 billion revenue.

Align Technology

— The orthodontics company’s shares rose 5.1% after its Q1 results surpassed analysts’ expectations. The company posted $2.14 adjusted earnings per share on revenue of $997.4 million, outperforming the anticipated $1.97 earnings per share and $974 million in revenue.

ServiceNow

— Despite slightly outperforming revenue assessments in Q1, the workflow management company’s shares fell 4%. Revenue was slightly higher than the expected $2.59 billion, at $2.6 billion, and adjusted earnings also beat estimates.

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Prism Stocks making the biggest moves premarket: Meta Platforms, Honeywell, Merck, Southwest Airlines and more

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