In this photo illustration, a Procter and Gamble logo is seen displayed on a smartphone with stock market percentages in the background.
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Check out the companies making headlines before the bell:
Procter & Gamble Company – Shares rose about 1.5% in the premarket after the consumer goods giant’s earnings and profits for its fiscal third quarter topped Wall Street expectations. Procter & Gamble also boosted its forecast for organic sales growth for fiscal 2023 to 6% from its previous forecast of 4% to 5%.
CSX Corporation – Shares rose 2.4% after 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 expected earnings of 43 cents per share and revenue of $3.58 billion.
WR Berkley – The commercial lines insurer’s stock fell 3% after posting net premiums earned of $2.49 billion in its first quarter. That was lower than the $2.53 billion analysts were expecting, according to consensus expectations from FactSet. The company also reported operating per-share earnings of $1, down from $1.10 per share last year.
PPG Industries – Shares rose 0.8% in the premarket after PPG Industries posted better-than-expected second-quarter guidance. The paint maker expected adjusted earnings to be $2.05 to $2.15 per share, beating analysts’ estimates of $1.96 per share.
ContextLogic – ContextLogic shares advanced 16% in premarket trading after online e-commerce platform announced a $50 million share repurchase program.
Regions Finance – Shares were 0.6% higher after the company reported mixed quarterly results. The regional bank posted earnings per share 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.
Schlumberger NV – The energy stock fell 0.6% even after the drilling firm beat expectations in the first quarter on both the top and bottom lines. The company reported adjusted earnings of 63 cents per share on revenue of $7.74 billion. That was bigger than consensus expectations for earnings per share of 60 cents on revenue of $7.44 billion, according to Refinitiv.
Freeport-McMoRan – Shares of the mining firm fell 1.1% in premarket ahead of Freeport-McMoran’s conference call discussing the latest quarterly results.
AT&T – The telecommunications stock rose 0.8% after HSBC upgraded AT&T to a buy rating. The Wall Street firm is recommending investors buy shares in the telecommunications giant, which fell sharply the previous day on the back of a profit miss.
Philip Morris International – The stock was 0.3% higher after Goldman Sachs said it remained bullish on Philip Morris International even after the tobacco stock’s sharp decline in earnings. The company reiterated a buy rating.
— CNBC’s Michelle Fox contributed reporting
