Premarket Stock Movements: Revvity Rises, Palantir Falls
- Revvity shares increased by 7% after raising earnings guidance.
- Pfizer reported a third-quarter profit of 87 cents per share on $16.58 billion in revenue.
- Palantir shares dropped nearly 8% despite exceeding earnings expectations.
Several companies are making notable premarket stock movements. Revvity saw a 7% gain after revising its full-year pro forma adjusted earnings per share guidance to a range of $5.40 to $5.45, up from a prior estimate of $5.30 to $5.40.
Pfizer’s stock remained flat following the announcement of its third-quarter results. The pharmaceutical giant reported earnings of 87 cents per share, excluding certain items, on revenue of $16.58 billion. This surpassed analyst expectations for a profit of 73 cents per share and revenue of $15.87 billion, according to LSEG.
Zebra Technologies, known for its barcode scanners and mobile computers, experienced a decline of over 6% despite reporting better-than-expected third-quarter earnings of $4.95 per share on $1.61 billion in revenue, exceeding FactSet’s expectations for a profit of $4.89 per share and revenue of $1.57 billion. The company’s guidance for free cash flow of at least $1 billion for the year was slightly below the $1.02 billion estimate.
Gartner also saw its shares slide over 6% even though it reported third-quarter results that beat expectations, along with improved earnings and revenue guidance for the full year.
In contrast, Yum Brands, the parent company of Taco Bell, traded 1% higher after its third-quarter earnings surpassed analysts’ expectations, with adjusted earnings per share of $1.56 compared to the forecast of $1.49 per share. Revenue matched market consensus at $2.05 billion, and Taco Bell noted a recovery following a cyclospora outbreak linked to iceberg lettuce.
Palantir Technologies’ shares plummeted nearly 8% despite the company exceeding Wall Street’s earnings estimates. Its U.S. commercial revenue surged by 148% to $984 million, surpassing U.S. government revenue of $953 million. Palantir forecasted approximately $2.65 billion in fourth-quarter revenue and $8.53 billion for full-year 2026.
Finally, Apple shares fell nearly 4% in premarket trading after the tech giant revealed a disappointing margin forecast, with fourth-quarter iPad sales missing analysts’ estimates.
News Courtesy of CNBC
