Today's Pre-Market Stock Movers: SNAP, AXP, WHR, UAA and More
$Veris Residential(VRE.US)$ +13.5% (The owner of New Jersey rental apartments is the object of an unsolicited takeover bid by rival Kushner Cos., according to a person familiar with the matter who spoke to the Wall Street Journal. The bid is said to be worth $16 per share, compared with yesterday’s $12.42 closing price. )
$American Express(AXP.US)$ -4.7% (The financial services company reported a quarterly profit of $2.47 per share, 6 cents above estimates, with revenue also topping Wall Street forecasts. American Express also raised its full-year forecast, amid a surge in customer spending, and increased the amount in reserve for potential defaults.)
$Verizon(VZ.US)$ -4.08% (Verizon earned an adjusted $1.32 for the third quarter, beating the consensus estimate by 3 cents, with revenue also better than expected. Verizon also reported a smaller number of postpaid net phone adds than expected, noting it had anticipated some negative impact from raising prices.)
$Snap Inc(SNAP.US)$ -28.2% (The company forecasting no revenue growth for the current quarter. The slowdown in the digital ad market also took down the stocks of other companies dependent on ad revenue, with $Pinterest(PINS.US)$ -7.5%, $Meta Platforms(META.US)$ -3.5%, $Alphabet-A(GOOGL.US)$ -1.7% and $Twitter (Delisted)(TWTR.US)$ -6.9%.)
$Whirlpool(WHR.US)$ -4.4% (The company's profit and revenue for the latest quarter came in below Wall Street forecasts. The company also gave a weaker-than-expected outlook amid softer demand and reduced production. )
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