{"id":30980,"date":"2023-10-31T13:19:03","date_gmt":"2023-10-31T13:19:03","guid":{"rendered":"https:\/\/microloannexus.com\/news\/stocks-making-the-biggest-moves-premarket-jetblue-pinterest-chewy-caterpillar-and-more\/"},"modified":"2023-10-31T13:19:05","modified_gmt":"2023-10-31T13:19:05","slug":"stocks-making-the-biggest-moves-premarket-jetblue-pinterest-chewy-caterpillar-and-more","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=30980","title":{"rendered":"Stocks making the biggest moves premarket: JetBlue, Pinterest, Chewy, Caterpillar and more"},"content":{"rendered":"<div>\n<div data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\">\n<p><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"ArticleBody-extraData\"><span hidden=\"\" aria-hidden=\"true\" class=\"xyz-data\">Check out the companies making headlines before the bell. Arista Networks \u2014 Shares of the cloud networking solutions company gained nearly 10% after beating third-quarter expectations. Arista reported earnings of $1.83 per share, excluding items, on $1.51 billion in revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts surveyed by FactSet had been expecting. Pinterest \u2014 Pinterest shares popped more than 16% on stronger-than-expected third-quarter results . The social media company posted adjusted earnings of 28 cents per share. Revenue came in at $763.2 million and showed an 11% increase from a year ago. Global active monthly users also grew 8% year over year. Chewy \u2014 The pet food seller added 4% in premarket trading after Morgan Stanley upgraded the stock to overweight from equal weight. Analyst Lauren Schenk cited &#8220;an attractive combination of better than expected revenue growth and ongoing margin expansion paired with a reasonable valuation.&#8221; Anheuser-Busch \u2014 The beer manufacturer added 4% after posting earnings of 86 cents per share, higher than the 83 cents per share analysts polled by LSEG, formerly known as Refinitiv, were expecting. Revenue, however, came in at $15.57 billion, lower than the expected $15.73 billion. Caterpillar \u2014 Investors sent shares down 4.3% after worries that the equipment manufacturer&#8217;s fourth-quarter revenue could miss analysts&#8217; expectations. Caterpillar said in its earnings presentation that fourth-quarter revenue would only be &#8220;slightly&#8221; higher than it was this same quarter last year. JetBlue \u2014 The stock fell more than 7% after posting third-quarter results that came in below analysts&#8217; expectations. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue. Analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. Wolfspeed \u2014 The stock soared 12.5% on the back of its fiscal first-quarter results, which showed a loss of 53 cents per share versus the 67 cents per share analysts polled by LSEG were expecting. Revenue, however, came in at $197 million versus the $208 million consensus. Chegg \u2014 Shares of the education technology company shed over 4%. Chegg&#8217;s third-quarter earnings came in at 18 cents per share, excluding items, higher than the 17 cents per share expected by analysts polled by LSEG. Similarly, revenue at $158 million was above consensus estimates of $152 million. VF Corporation \u2014 Shares of the apparel and footwear company slid more than 6% after withdrawing its previous full-year 2024 guidance for earnings and revenue. The company also shared that it expects shoe brand Vans&#8217; performance to be hindered for the near future due to a more difficult wholesale environment in the U.S. Tesla \u2014 Tesla stock edged 1.4% lower in premarket trading after concerns surfaced around softening demand for electric vehicles , especially higher-priced models. BP \u2014 Shares of the oil company slid 4% after the company missed analysts&#8217; estimates for its third-quarter earnings . BP reported underlying replacement cost profit \u2014 a proxy for net profit \u2014 of $3.293 billion, versus the $4.059 billion expected by analysts polled by LSEG. XPO \u2014 The freight transportation company added 1.7% after announcing stronger-than-expected third-quarter earnings. Following the earnings beat, Jefferies upgraded the stock to buy from hold. AutoNation \u2014 The stock ticked more than 2% higher after receiving an upgrade from JPMorgan to neutral from underweight. Analyst Rajat Gupta cited significant productivity improvements and better balance sheet leverage as catalysts for the upgrade. Globe Life \u2014 The insurance stock climbed 1.1% on the heels of an upgrade to overweight from equal weight by Wells Fargo. The firm said GLP-1 drug prices coming down could be a positive in the long term for shares. Ferguson \u2014 The plumbing distributor shed 3.8% after Bank of America downgraded the stock to underperform from neutral. Reasons for the downgrade included waning demand and downside risks to pricing. Lyft \u2014 Shares of the ride-hailing company fell more than 5% after MoffettNathanson downgraded Lyft to sell from neutral. The investment firm said in a note that rising insurance costs appear to be outpacing Lyft&#8217;s growth, which could keep the company from being profitable. \u2014 CNBC&#8217;s Alex Harring, Jesse Pound and Samantha Subin contributed reporting.<\/span><\/span><\/span><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/10\/31\/stocks-making-the-biggest-moves-premarket-jetblue-pinterest-chewy-caterpillar-more.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out the companies making headlines before the bell. Arista Networks \u2014 Shares of the cloud networking solutions company gained nearly 10% after beating third-quarter expectations. Arista reported earnings of $1.83 per share, excluding items, on $1.51 billion in revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue<\/p>\n","protected":false},"author":1,"featured_media":30981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-30980","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks making the biggest moves premarket: JetBlue, Pinterest, Chewy, Caterpillar and more | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Check out the companies making headlines before the bell. 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