Meta, Ford, Honeywell, Caterpillar and more | Rare Techy


On May 4, 2022, Facebook owner Meta Platforms Inc. opening physical store in Burlingame, California.

Brittany Hosea-Small | Reuters

Check out the companies making headlines before the clock.

Meta – The social media stock fell 22.8% after Meta reported a revenue shortfall and a weaker-than-expected fourth-quarter forecast. Meta reported earnings per share of $1.64 on revenue of $27.71 billion. Analysts polled by Refinitiv had expected $1.89 per share on revenue of $27.38 billion. The stock was also hurt by concerns about rising costs to build out the metaverse.

Ford – Shares fell 1.7% after Ford reported a net loss of $827 million in its most recent quarter, citing supply chain issues and costs following the abandonment of autonomous vehicle unit Argo AI.

Honeywell — The stock rose 4.6% after the industrial company beat third-quarter profit expectations, citing strong growth in its advanced materials, commercial aviation and building products businesses.

Caterpillar – Shares rose 5.1% after Caterpillar reported earnings that beat the top and bottom lines. The construction machinery and equipment maker earned $3.95 per share on revenue of $14.99 billion. Caterpillar was expected to earn $3.16 per share on revenue of $14.33 billion, according to Refinitiv consensus estimates.

Northrop Grumman – Northrop Grumman fell 3.8% after missing third-quarter earnings expectations. The defense firm reported revenue of $8.97 billion, compared with estimates of $9.13 billion, according to consensus estimates compiled by Refinitiv.

Comcast — The telecom stock jumped 6.4% after Comcast beat revenue and earnings expectations. Comcast said Comcast earned 96 cents per share on revenue of $29.85 billion, up from 90 cents per share in revenue of $29.65 billion, according to Refinitiv’s consensus estimate.

McDonalds – The fast-food giant rose 2.5% after beating expectations in its latest quarter. McDonald’s said traffic is growing at its U.S. restaurants even after raising prices, unlike other fast-casual chains that recently raised menu prices.

Align technology – Shares of the Invisalign maker fell 19.7% after Align Technology reported disappointing earnings. The maker of Invisalign reported 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 number — The stock fell 26% after Sleep Number issued a weak fourth-quarter outlook due to softer demand and semiconductor supply chain issues.

ServiceNow — ServiceNow rose 13.8% after the software company beat profit expectations in its third quarter, although it reported slightly missing sales estimates, according to FactSet consensus estimates.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.


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