Take a look at the businesses making headlines earlier than the bell rings.
American Categorical — American Categorical was down 3% after income within the earlier quarter got here in decrease than anticipated, whilst earnings per share beat expectations. The corporate reported second-quarter earnings of $2.89 per share on revenues of $15.05 billion. Analysts polled by Refinitiv had anticipated earnings per share of $2.81 on income of $15.48 billion.
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AutoNation — Shares fell 3% even after AutoNation reported second-quarter outcomes that beat expectations. The corporate ticked the highest and backside strains, reporting adjusted earnings of $6.29 per share on $6.89 billion in income. Analysts have been anticipating earnings per share of $5.91 on income of $6.78 billion.
Sunnova power — The photo voltaic firm misplaced 2% after being downgraded to market efficiency from outperforming by BMO. BMO cited the difficult macroeconomic backdrop for residential photo voltaic and mentioned Sunnova’s debt points may weigh on the inventory.
CSX — CSX fell 4% after the trucking firm fell in need of Q2 income expectations. CSX reported income of $3.7 billion, decrease than Refinitiv’s consensus estimate of $3.74 billion. Earnings per share got here according to consensus at 49 cents.
Capital One Monetary — The monetary inventory rose barely after the corporate posted better-than-expected earnings for the final quarter. Capital One reported adjusted earnings of $3.52 per share, beating Refinitiv’s estimate of $3.23 per share. Nonetheless, gross sales fell in need of expectations. Whole deposits additionally fell 2% on the finish of the second quarter.
PPG Industries — PPG Industries fell 2% even after reporting robust second quarter outcomes. The paints, coatings and different supplies provider posted adjusted earnings of $2.25 on gross sales of $4.87 billion. Analysts polled by StreetAccount had anticipated earnings of $2.14 per share on income of $4.84 billion. The corporate additionally raised its revenue expectations for the present quarter and full yr.
Intuitive surgical — Intuitive Surgical fell 4% after the healthcare firm reported weaker-than-expected system income within the second quarter. Intuitively posted system income of $392.7 million, decrease than the StreetAccount consensus estimate of $415.9 million. In any other case, the corporate beat analysts’ expectations. It posted adjusted earnings of $1.42 per share on income of $1.76 billion. Analysts polled by Refinitiv forecast earnings of $1.33 per share on income of $1.74 billion.
Ridder-Swift Transport — Transportation inventory fell greater than 2% after Knight-Swift reported lower-than-expected second-quarter earnings and issued weak steering. Knight-Swift reported adjusted earnings of 49 cents per share and $1.55 billion in income. Analysts had anticipated earnings per share of 55 cents and quarterly income of $1.60 billion, in keeping with Refinitiv. The corporate mentioned weak demand and a modest enhance in driver churn damage the corporate.
Scholastic — Scholastic rose 6% after beating earnings-per-share expectations and sharing it’ll enhance the share buyback quantity by $100 million. The writer posted $2.26 earned per share, greater than the $1.70 forecast, in keeping with an analyst polled by StreetAccount. In the meantime, income was $428.3 million, decrease than the anticipated $541.8 million.
— CNBC’s Michelle Fox and Yun Li contributed reporting.
