In this photo illustration, the Procter & Gamble logo is displayed on a smartphone with stock market percentages in the background.
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Check out the companies making headlines before the market close:
Procter – Shares rose about 1.5% premarket after the consumer goods giant beat Wall Street expectations for third-quarter earnings and revenue. P&G also raised its forecast for fiscal 2023 organic sales growth to 6% from an earlier forecast of 4% to 5%.
CSX Corporation – Shares rose 2.4% after CSX’s first-quarter results beat expectations. The transportation company reported earnings of 48 cents per share on revenue of $3.71 billion. Analysts polled by Refinitiv had expected earnings of 43 cents a share on revenue of $3.58 billion.
WR Berkeley – Shares of the commercial line insurer fell 3 percent after first-quarter net premiums were $2.49 billion. That was below analysts’ expectations of $2.53 billion, according to the FactSet consensus. The company also reported operating income of $1 per share, down from $1.10 per share a year ago.
PPG Industries – Shares rose 0.8% premarket after PPG Industries issued better-than-expected second-quarter guidance. The paint maker forecast adjusted earnings of $2.05 to $2.15 a share, topping analysts’ estimate of $1.96 a share.
contextual logic – ContextLogic shares jump 16% in premarket trading following online e-commerce platform Announce $50 million share repurchase program.
Regional Finance – Shares rose 0.6 percent after the company reported mixed quarterly results. The regional bank reported earnings per share that missed expectations, while revenue met expectations, according to Refinitiv consensus estimates. However, it reported net interest income of $1.42 billion, topping the FactSet consensus estimate of $1.4 billion.
Schlumberger – Energy shares fell 0.6 percent even as the driller beat first-quarter revenue and profit estimates. The company reported adjusted earnings of 63 cents per share on revenue of $7.74 billion. That beat consensus estimates for earnings of 60 cents a share on revenue of $7.44 billion, according to Refinitiv data.
Freeport-McMoRan – Shares of mining company down 1.1% in premarket ahead of Freeport-McMoran’s telephone conference Discuss its latest quarterly results.
AT&T – Telecoms rose 0.8% after HSBC upgraded AT&T to buy. The Wall Street firm advised investors to buy shares of the telecom giant, which had fallen sharply the previous day on slumping revenue.
Philip Morris International – The stock rose 0.3% after Goldman Sachs said it remained bullish on Philip Morris International even after the tobacco sector’s earnings slumped. The company reiterated its buy rating.
– CNBC’s Michelle Fox contributed reporting
