December 9, 2023

Check out the companies making headlines before the market close.

united airlines — The airline fell 0.9 percent in premarket trading after announcing a net loss for the first quarter. United posted a loss of 63 cents a share, 10 cents less than the 73-cent loss expected by analysts polled by Refinitiv. The company reported revenue of $11.43 billion, slightly above estimates of $11.42 billion.

Interactive Brokers Group — Shares of the electronic broker fell 3.7% after the company reported poor first-quarter earnings. The company reported earnings of $1.35 a share, below the $1.41 consensus estimate of analysts polled by Refinitiv.

Netflix – Shares of the streaming giant fell more than 2% after it reported mixed results from delaying the rollout of a crackdown on password sharing that had been scheduled for the first quarter. While earnings topped estimates, revenue was slightly below Refinitiv’s analyst consensus.

Western Union – Shares of the battered regional bank rose more than 20% in premarket trading after Western Alliance said its deposits rebounded in April after falling 11% in the first quarter. Wedbush upgraded Western Alliance to outperform after its quarterly report, even though the bank’s net income fell more than 50% from the previous quarter.

traveler — Insurance stocks rose more than 3% after topping and bottom-line Wall Street expectations. The Dow Jones Industrial Average reported adjusted earnings of $4.11 per share on net premiums of $9.4 billion.

Intel — Shares fell nearly 2% after the semiconductor maker announced it would discontinue its line of Bitcoin mining chips, Blockscale, after just one year of production.

Abbott Laboratories — The medical device company rose 2.8 percent after beating top and bottom line estimates and reiterating guidance. The company reported first-quarter earnings of $1.03 a share on revenue of $9.75 billion, while analysts polled by FactSet expected earnings of 99 cents a share on revenue of $9.67 billion. The company said it still expects full-year adjusted earnings per share of $4.30 to $4.50, in line with analysts’ consensus estimate of $4.39.

us bank — The bank rose 1.7% after announcing first-quarter earnings and revenue topped estimates. US Bancorp reported earnings of $1.16 per share on revenue of $7.18 billion. Analysts polled by Refinitiv expected earnings of $1.12 a share on revenue of $7.12 billion. Meanwhile, the bank reported that its quarter-end deposits fell 3.7% to $505.3 billion.

rivian car — The electric car maker fell about 2 percent after it was downgraded to sector perform from outperform by RBC Capital Markets. The Wall Street firm remains bullish on the stock’s long-term prospects, but sees limited near-term catalysts to accelerate earnings. It also cut its price target in half, from $28 to $14 a share.

ASML Holdings – Shares of the chipmaker fell 2.6% in early trade after the company reported a 46% year-over-year decline in first-quarter net bookings, citing “mixed signals” from customers as they worked through inventories. Shares fell even as ASML reported better-than-expected earnings for the quarter.

Boeing — Shares in the industrial giant rose after Chief Executive Dave Calhoun said a defect detected in some of its 737 Max planes would not hinder its supply chain plans to increase production of its best-selling jetliner this year It was down 0.6 percent in premarket trading. The company disclosed defects in some 737 Max planes last week and said deliveries could be delayed.

Morgan Stanley — Shares fell 3.2 percent after the bank reported quarterly earnings. The investment bank and wealth manager reported first-quarter earnings of $1.70 a share, topping the $1.62 estimate of analysts polled by Refinitiv. Total revenue of $14.52 billion topped the Refinitiv consensus estimate of $13.92 billion, as the equities and fixed-income trading segment performed better than expected. One growth area was wealth management, with revenue up 11% from a year ago. Shares of banks, which have outperformed most other banks this year despite their results, were down 2% in early trade.

Ally Finance — The digital financial services company’s first-quarter earnings and revenue missed Wall Street expectations, sending shares down 1.3%. Ally reported earnings of 82 cents a share, compared with analysts’ expectations for 86 cents, according to FactSet. The bank’s total adjusted net income also came in below expectations at $2.05 billion, compared with the FactSet analysts’ consensus estimate of $2.07 billion.

intuitive surgery — Shares rose 8.1 percent after Intuitive Surgical reported earnings and revenue that beat expectations. The company reported adjusted earnings of $1.23 per share, topping the consensus estimate of $1.20 per share, according to FactSet. 14% increase in revenue Compared with the previous year, revenue was $1.7 billion compared with an estimate of $1.59 billion.

tesla – Shares of Tesla fell more than 2% in premarket trading after Tesla slashed prices on some of its Model Y and Model 3 electric cars in the U.S. This year, the U.S. cut prices.

zion bank corp. — Shares of banks in the region rose nearly 4% pre-market ahead of earnings reports after the close on Wednesday. Investors may turn optimistic after peer Western Alliance said in its first quarter that deposits had stabilized since the Silicon Valley bank collapsed last month.

CDW — Shares of the IT company plunged 10.6% after a weaker-than-expected preliminary quarterly earnings report. CDW issued quarterly revenue guidance of $5.1 billion, missing the FactSet analyst consensus estimate of $5.58 billion. The company said it was significantly impacted by more cautious buying amid economic uncertainty. It also issued full-year earnings guidance putting it “just below” 2022 levels.

Citizens Financial Group — Shares fell nearly 4% after the company’s first-quarter earnings disappointed investors. Citizens Financial earned $1 a share, compared with analysts’ estimates of $1.13, according to Refinitiv data. The company’s revenue of $2.13 billion also missed analysts’ expectations of $2.14 billion. Citizens Financial reported deposits fell 4.7% to $172.2 billion.

— CNBC’s Alex Harring, Tanaya Macheel, John Melloy, Michelle Fox, Yun Li, Jesse Pound and Kristina Partsinevelos Contribution report