Premarket Trading Highlights
Nvidia: Shares rose by 3.5% in Wednesday’s premarket, adding to a previous rally of about 5%. The chipmaker is nearing a market capitalization of $5 trillion, a milestone no other company has achieved.
Boeing: The aerospace firm experienced volatility after releasing its quarterly earnings. In Q3, Boeing reported revenue of $23.27 billion, exceeding the $21.97 billion forecasted by analysts. However, it recorded a larger loss than anticipated, with an adjusted loss per share of $7.47 against the expected $4.59.
Caterpillar: The construction and agriculture equipment manufacturer saw a 4% rise following better-than-expected Q3 results. Caterpillar earned $4.95 per share, beating the projected $4.59, with revenue of $17.64 billion versus the expected $16.77 billion.
Fiserv: Shares plummeted by 28% due to a significant earnings miss. Fiserv’s earnings were $2.04 per share on $4.92 billion in revenue, falling short of analyst expectations for $2.64 per share on $5.35 billion. The company also cut its earnings guidance for the year.
CVS Health: The pharmacy operator saw a slight decline after reporting a net loss of $3.99 billion in Q3, a stark contrast to a net income of $71 million the previous year. Meanwhile, Seagate Technology shares increased by 6.6% after surpassing earnings expectations, reporting $2.61 per share with revenue of $2.63 billion.
Centene: The managed care company surged by 10% after posting better-than-anticipated earnings and raising guidance, achieving 50 cents per share against a predicted loss of 14 cents. Revenue reached $49.69 billion, beating the $47.72 billion consensus.
Other Notable Moves: TE Connectivity shares increased by 4.4% with stronger quarterly results, while Teradyne’s shares surged 20.5% on positive earnings. Conversely, Generac fell by 9% due to a disappointing earnings report, and Mondelez dropped 5.5% after revising its organic revenue growth forecast down to 4% from 5%.
