Stock Market

Stocks making the biggest moves premarket: American Express, AutoNation, CSX and more

In this article

Kara Birnbaum / CNBC

Check out the companies making headlines before the bell:

American Express — American Express slid 3% after posting smaller-than-expected revenue for the previous quarter, even as earnings per share beat expectations. The company reported second-quarter earnings of $2.89 per share on revenue of $15.05 billion. Analysts polled by Refinitiv had expected per-share earnings of $2.81 on revenue of $15.48 billion.

AutoNation — Shares slid 3% even after AutoNation reported second-quarter results that beat expectations. The company beat on the top and bottom lines, reporting adjusted earnings of $6.29 per share on revenue of $6.89 billion. Analysts expected per-share earnings of $5.91 on revenues of $6.78 billion.

Sunnova Energy — The solar company shed 2% after being downgraded by BMO to market perform from outperform. BMO cited the challenging macro backdrop for residential solar and said Sunnova’s debt issuances could weigh on the stock.

CSX — CSX fell 4% after the transportation company missed revenue expectations in its second quarter. CSX reported revenue of $3.7 billion, lower than the $3.74 billion consensus estimate from Refinitiv. Earnings per share came in line with consensus at 49 cents.

Capital One Financial — The financial stock rose slightly after the company posted better-than-expected earnings for the latest quarter. Capital One reported adjusted earnings of $3.52 per share, beating a Refinitiv estimate of $3.23 per share. However, its revenue missed expectations. Total deposits also decreased 2% at the end of the second quarter.

PPG Industries — PPG Industries declined 2% even after reporting strong second-quarter results. The supplier of paints, coatings and other materials posted adjusted earnings of $2.25 on revenue of $4.87 billion. Analysts polled by StreetAccount expected earnings of $2.14 per share and revenue of $4.84 billion. The company also raised its current-quarter and full-year earnings guidance.

Intuitive Surgical — Intuitive Surgical fell 4% after the health care firm reported weaker-than-expected systems revenue in its second quarter. Intuitive posted systems revenue of $392.7 million, lower than the $415.9 million StreetAccount consensus estimate. Otherwise, the company beat analysts’ expectations. It posted adjusted earnings of $1.42 per share and $1.76 billion in revenue. Analysts polled by Refinitiv forecasted earnings of $1.33 per share on $1.74 billion in revenue.

Knight-Swift Transportation — The transportation stock dropped more than 2% after Knight-Swift reported lower-than-expected earnings in its second quarter and issued weak guidance. Knight-Swift reported adjusted earnings of 49 cents per share and $1.55 billion in revenue. Analysts were expecting 55 cents in earnings per share and a quarterly revenue of $1.60 billion, according to Refinitiv. The company said soft demand and a modest rise in driver turnover hurt the firm.

Scholastic — Scholastic rose 6% after beating earnings-per-share expectations and sharing it will raise its share repurchase amount by $100 million. The publisher posted $2.26 earned per share, higher than the forecast of $1.70, according to one analyst surveyed by StreetAccount. Meanwhile, revenue came in at $428.3 million, lower than the $541.8 million expected.

— CNBC’s Michelle Fox and Yun Li contributed reporting

Articles You May Like

Apple set to be first Big Tech group to face charges under EU digital law
Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%
Biden hits Democratic fundraising record with star-studded $28mn LA event
Chinese vessel collides with Philippine resupply ship
Arizona lawmakers pass bill to ease the sting of Maricopa County tax refunds