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Pre-Market Movers: Netflix and More
Several companies are making headlines before the bell, with some experiencing significant stock movements. Here are some of the key gainers and losers on Wednesday morning:
- Netflix (NFLX) shares rose more than 15% after the company announced a top- and bottom-line beat, reporting earnings of $4.27 per share on $10.25 billion in revenue for the fourth quarter. The streaming service also topped 300 million paid subscribers in the quarter.
- United Airlines (UAL) shares climbed 5% after the airline company issued a better-than-expected outlook, with a projection of 75 cents to $1.25 per share in adjusted earnings for the first three months of 2025.
- Procter & Gamble (PG) shares increased 3% after the company posted fiscal second-quarter earnings and revenue that topped analysts’ forecasts. The company reported adjusted earnings of $1.88 per share and revenue of $21.88 billion, beating estimates of $1.86 per share and $21.54 billion, respectively.
- Oracle (ORCL) shares surged more than 10% on the back of President Donald Trump’s announcement of Project "Stargate," a joint venture with OpenAI, Oracle, and Softbank to invest up to $500 billion in U.S. artificial intelligence infrastructure.
- Seagate Technology Holdings (STX) shares jumped more than 6% after the data storage company announced strong fiscal second-quarter results, with adjusted earnings of $2.03 per share on revenue of $2.33 billion.
On the downside, several companies experienced significant stock movements, including:
- Trump Media & Technology (TMTG), which shed 2.1% as the company’s stock continues to decline following its post-inauguration slide.
- Abbott Labs (ABT), which fell 2% after reporting fourth-quarter sales of $10.97 billion that came in below analysts’ expectations.
- Ford (F), which slipped nearly 2% after Barclays downgraded the company’s shares to equal weight from overweight, citing volume headwinds and cost improvement uncertainty.
- General Electric Vernova (GEV), which moved about 1% higher after reporting fourth-quarter earnings of $1.73 per share but falling short of revenue estimates.
- Textron (TXT), which shed nearly 4% after the aviation and defense company missed top-line estimates.
- Johnson & Johnson (JNJ), which dipped 1.5% despite narrowly beating fourth-quarter expectations, driven by strong sales of its cancer treatment. The company’s sales forecast for 2025 was slightly lower than analysts had expected.