A sign is seen outside Facebook-owner Meta Platforms Inc’s inaugural physical store in Burlingame, California, May 4, 2022.
Brittany Hosea-Little | Reuters
Check out the companies making headlines before the bell.
Meta — The social media stock fell 22.8% after Meta reported a revenue loss and a weaker-than-expected fourth-quarter forecast. Meta reported earnings of $1.64 per share on revenue of $27.71 billion. Analysts polled by Refinitiv had expected $1.89 per share on revenue of $27.38 billion. Concern over increased spending to build the metaverse is also hurting the stock.
Ford — Shares fell 1.7% after Ford reported a net loss of $827 million in its most recent quarter, citing supply chain issues and costs after dropping its autonomous vehicle unit Argo AI.
Honeywell — The stock advanced 4.6% after the industrial company beat earnings expectations for the third quarter, citing strong growth in its advanced materials, commercial aerospace and product development businesses.
Caterpillar — Shares fell 5.1% after Caterpillar reported earnings that hit both the top and bottom lines. The construction machinery and equipment maker posted earnings of $3.95 per share on revenue of $14.99 billion. Caterpillar is expected to earn $3.16 a share on revenue of $14.33 billion, according to consensus estimates from Refinitiv.
Northrop Grumman — Northrop Grumman fell 3.8% after missing earnings expectations for its third quarter. The defense company reported revenue of $8.97 billion, compared with estimates of $9.13 billion, according to consensus estimates compiled by Refinitiv.
Comcast — The telecommunications stock jumped 6.4% after Comcast topped earnings and revenue expectations. Comcast reported earnings of 96 cents per share on revenue of $29.85 billion, compared with expectations of 90 cents per share on revenue of $29.65 billion, according to Refinitiv consensus estimates.
McDonald’s — The fast-food giant rose 2.5% after beating expectations in its most recent quarter. McDonald’s said traffic is growing at its US restaurants even after raising prices, in contrast to other quick-service chains that have recently raised menu prices.
Align Technology — Shares of the Invisalign maker fell 19.7% after Align Technology posted a disappointing earnings report. The maker of Invisalign reported earnings of $1.36 per share on revenue of $890 million. Analysts polled by Refinitiv had forecast earnings of $2.18 per share on revenue of $953 million.
Sleep Number — The stock fell 26% after Sleep Number issued a weak outlook for the fourth quarter due to weaker demand and semiconductor supply chain issues.
Service Today — ServiceNow rose 13.8% after the software company raised its third-quarter earnings expectations, though it reported a slight miss on sales estimates, according to FactSet consensus estimates.
Disclosure: Comcast is the owner of NBCUniversal, CNBC’s parent company.