Today's Pre-Market Stock Movers: PG, CSX, PPG, WRB and More

Movers and Shakers wrote a column · Apr 21, 2023 07:54

Gapping up

$Procter & Gamble(PG.US)$ +1.5% (The consumer goods giant's earnings and revenue for its fiscal third quarter topped Wall Street’s expectations. Procter & Gamble also boosted its forecast for organic sales growth for fiscal 2023 to 6% from its earlier forecast of 4% to 5%.)

$CSX Corp(CSX.US)$ +2.4% (CSX's first-quarter results topped expectations. The transportation company reported 48 cents per share and revenue of $3.71 billion. Analysts polled by Refinitiv had anticipated earnings of 43 cents per share and $3.58 billion in revenue.)

$PPG Industries(PPG.US)$ +0.8% (PPG Industries posted better-than-expected second-quarter guidance. The paint manufacturer expects adjusted earnings will be $2.05 to $2.15 per share, greater than analysts' estimates of $1.96 per share.)

$ContextLogic(WISH.US)$ +16% (The online e-commerce platform announced a $50 million share repurchase program. )

$Regions Financial(RF.US)$ +0.6%(The company reported mixed quarterly results. The regional bank posted per-share earnings that missed estimates, while revenue held in line with expectations, according to consensus expectations from Refinitiv. However, it posted net interest income of $1.42 billion, greater than the $1.4 billion consensus estimate from FactSet. )

$AT&T(T.US)$ +0.8% (HSBC upgraded AT&T to a buy rating. The Wall Street firm recommends investors buy shares in the telecommunications giant, which dropped sharply the prior day on the back of a revenue miss.)

$Philip Morris International(PM.US)$ +0.3% (Goldman Sachs said it remains bullish on Philip Morris International even after the tobacco stock's sharp drop on earnings. The firm reiterated a buy rating.)

Gapping down

$WRB-D(WRB-D.US)$ -3% (The company posted net premiums earned of $2.49 billion in its first quarter. That’s lower than the $2.53 billion expected by analysts, according to consensus expectations from FactSet. The firm also reported operating per-share earnings of $1, lower than $1.10 per share a year ago.)

$Schlumberger(SLB.US)$ -0.6%(The drilling firm topped first-quarter expectations on the top and bottom lines. The firm reported adjusted earnings of 63 cents per share on revenue of $7.74 billion. That's greater than the consensus expectation for per-share earnings of 60 cents on revenue of $7.44 billion, according to Refinitiv. )

$Freeport-McMoRan(FCX.US)$ -1.1% (The Freeport-McMoran's conference call discussing its latest quarterly results.)

Source: Dow Jones, CNBC

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