Check out the companies that make the headlines before the doorbell rings:
Travelers – The insurance company earned $ 3.45 per share in the second quarter, slightly beating the consensus estimate of $ 2.39. Revenue also exceeded forecasts, with Travelers benefiting from higher premiums, improved investment returns and lower catastrophe claims.
Nasdaq – Nasdaq shares rose 1% in the premarket after the exchange operator announced plans to spin off its Nasdaq Private Market, its platform for private corporate stocks, into a separate company. It will do this in partnership with a group of banks including Citigroup, Morgan Stanley and Goldman Sachs.
Halliburton – Halliburton rose more than 2% in pre-trading hours after beating estimates by 3 cents on quarterly earnings of 26 cents per share. The oilfield services company posted its second consecutive quarterly profit as the recovery in oil prices fueled demand.
IBM – IBM beat estimates 4 cents with adjusted quarterly earnings of $ 2.33 per share while revenue also beat estimates. IBM’s 3.4% year-over-year revenue increase was its strongest in 3 years, aided by IBM’s cloud and software businesses. IBM increased its pre-IPO measures by about 3.5%.
PPG Industries – PPG made an adjusted $ 1.94 per share last quarter, falling short of the consensus estimate of $ 2.19, despite the paint and coatings maker posting sales slightly above Wall Street forecasts. PPG also warned that input and other costs would rise in the current quarter. PPG lost around 6.5% in the premarket.
Johnson & Johnson, McKesson, Cardinal Health, AmerisourceBergen – U.S. states are expected to announce a $ 26 billion settlement this week with companies allegedly accused of fueling a nationwide opioid epidemic, according to multiple reports. The settlement would include payments from drug maker J&J and the three drug distributors. McKesson rose more than 5% in the premarket while Cardinal Health added 4.5%.
Comcast, ViacomCBS – Comcast CEO Brian Roberts and ViacomCBS Chair Shari Redstone have been discussing a potential international streaming partnership for the past few weeks, according to people familiar with the matter Wall Street Journal. ViacomCBS was up 1.3% in pre-trading, Comcast up 0.1%.
Zions Bancorp – Zions earned $ 2.08 per share in the second quarter, well above the consensus estimate of $ 1.29, with the bank’s earnings beating Street projections as well. The result benefited, among other things, from the reversal of pandemic-related loan loss provisions. The company said future credit-related losses will be significantly less than previously expected.
JB Hunt Transport – JB Hunt Transport was 4 cents above estimates with quarterly earnings of $ 1.61 per share while the logistics company’s revenue also beat estimates. The company saw strong freight demand across all of its segments for the quarter.
Crown Holdings – Crown Holdings reported adjusted quarterly earnings of $ 2.15 per share, compared to a consensus estimate of $ 1.78, with the consumer packaging manufacturer also posting the highest revenue forecast on Wall Street. The performance was supported, among other things, by the strong demand in the beverage can segment. Crown shares rose nearly 4% early on the market.