Netgear shares fell 14.2 percent after the computer equipment manufacturer reported lower-than-expected sales and revenue for the most recent quarter. In addition, the company provided guidance that fell short of analyst expectations. According to Netgear, supply chain constraints and factory closures due to Covid-19 hampered its performance.
Unilever reported better-than-expected second-quarter sales and earnings, but the consumer goods behemoth also warned that a significant increase in commodity costs would harm its full-year profit margins. Its stock fell 4.6 percent.
Whirlpool reported adjusted quarterly earnings of $6.64 per share, beating the consensus estimate of $5.90, and revenue also exceeded Wall Street expectations. Whirlpool also raised its full-year guidance, citing strong consumer demand despite higher prices.
Dow Inc. – Shares of the materials science company rose 1.7 percent in premarket trading after Dow Inc beat earnings estimates by 27 cents per share with a quarterly profit of $2.72 per share. Revenue also exceeded expectations, thanks to higher prices and limited supply. Dow anticipates a positive second half as global economies improve.
AT&T reported adjusted quarterly earnings of 89 cents per share, which were 10 cents higher than expected, with revenue also exceeding Wall Street projections. AT&T added more wireless subscribers than expected, as well as an increase in signups for its various HBO services, and its stock rose 1.2 percent in premarket trading.
DR Horton – Despite reporting better-than-expected earnings, the homebuilder’s stock fell 4.4 percent in premarket trading. DR Horton earned $3.06 per share in the second quarter, compared to a consensus estimate of $2.81. The company also increased its revenue forecast for fiscal 2021.
Southwest Airlines shares fell 2.4 percent in premarket trading, as the company’s second-quarter loss of 35 cents per share was larger than the 23 cent loss expected by analysts. However, Southwest’s revenue exceeded expectations, and the airline stated that it expected to remain profitable for the rest of the year.
Blackstone Group – The private equity firm reported 82 cents per share in the second quarter, which was 4 cents higher than expected. Blackstone benefited from a record increase in the value of its investments over the previous year. Blackstone’s stock rose 1.6 percent.
Crocs – Shares of the footwear company rose 8% after the company reported adjusted quarterly earnings of $2.23 per share, compared to a consensus estimate of $1.60. Revenue also exceeded expectations, with Crocs citing strong demand for the brand around the world.
Biogen – The pharmaceutical company earned an adjusted $5.68 per share in the second quarter, compared to a consensus estimate of $4.54, with revenue also exceeding expectations. Biogen also raised its revenue forecast for 2021, and its stock rose 1.3 percent in premarket trading.
Texas Instruments – With a quarterly profit of $2.05 per share, Texas Instruments beat earnings estimates by 22 cents. Revenue also exceeded analyst expectations. However, the chipmaker issued revenue guidance for the current quarter that was lower than expected, raising concerns about low inventories and manufacturing capacity. The stock fell by 4.6 percent.
Las Vegas Sands – The casino operator lost 26 cents per share, 10 cents more than Wall Street expected, and revenue also fell short of expectations. However, the company stated that it is still optimistic about a rebound in travel and tourism. Las Vegas Sands dropped 2.2 percent.