Check out the companies making headlines before the opening bell : Intel — The chip stock surged more than 7% in premarket trading after the company reported better-than-expected revenue as demand for its core x86 processors for PCs recovered. Ford Motor — The Detroit automaker moved 4.2% higher following its third-quarter earnings beat . Ford’s adjusted earnings of 45 cents per share topped the 36 cents expected from analysts polled by LSEG. Revenue came in at $47.19 billion, versus the $43.08 billion consensus estimate. Applied Materials — Chip equipment manufacturer saw shares dip slightly after the firm announced it is laying off 4% of its workforce . The company on Thursday began notifying impacted employees around the world “across all levels and groups,” it said in a filing. Alphabet — Shares of the Google parent climbed more than 1% after AI company Anthropic and Google officially announced their cloud partnership . The deal, worth tens of billions of dollars, gives Anthropic access up to one million of Google’s custom-designed Tensor Processing Units, or TPUs. Target — Shares of the big box retailer rose slightly after the company said it’s cutting 1,800 corporate jobs, or roughly 8% of its corporate workforce. It marks the first major round of layoffs in a decade for the Minneapolis-based retailer. Comfort Systems — The HVAC stock surged more than 18% following a better-than-expected third-quarter earnings report and a dividend increase. Comfort Systems earned $8.25 per share on $2.45 billion, while analysts polled by FactSet anticipated $6.29 a share and $2.16 billion, respectively. Deckers Outdoor — The owner of the Hoka and Ugg shoe brands’ shares plunged 12% after its revenue forecast fell short of expectations. Deckers expects full-year revenue of roughly $5.35 billion, lower than the $5.45 billion analysts surveyed by LSEG were estimating. Coinbase – Shares rose 3% after JPMorgan upgraded the cryptocurrency exchange’s stock to overweight from neutral and lifted its price target on shares to $404 from $342. The bank cited Coinbase’s exploration of a token launch linked to its decentralized finance platform, Base, and an initiative to attract more customers to the exchange’s subscription service, Coinbase One, as potential catalysts for the stock’s growth. Procter & Gamble — Shares gained 3.6% after the consumer packaged goods company’s fiscal first-quarter financial results topped Wall Street’s expectations. Procter & Gamble reported adjusted earnings of $1.99 per share on revenue of $22.39 billion. Analysts polled by LSEG had expected EPS of $1.90 on revenue of $22.18 billion. Boston Beer — Shares gained 2% after the maker of Samuel Adams beer and Twisted Tea beverage posted third quarter earnings that topped expectations, and raised its full year guidance. Third quarter earnings of $4.25 per share exceeded the earnings of $3.33 per share expected by analysts, according to FactSet. Full-year earnings guidance, including tariffs, came in the range of $7.80 to $9.80 per share, more than prior guidance between $6.72 and 9.54 per share. Boyd Gaming — Shares dipped 1.7%, after the online gaming and casino company posted third-quarter results that got a boost from a FanDuel stake sale. Boyd Gaming posted earnings of $1.72 per share on revenue of $1 billion. Analysts polled by FactSet were anticipating earnings of $1.62 per share on revenue of $875.1 million. SLM Corp — The consumer bank stock jumped 8% in premarket trading after the firm raised full-year earnings guidance, while investors cheered solid buyback activity. However, SLM’s third-quarter earnings per share of 63 cents missed FactSet’s estimate of 80 cents. — CNBC’s Sarah Min, Alex Harring, Michael Fox and Elizabeth Napolitano contributed reporting.
Intel, Ford, Deckers, P&G, Comfort Systems & more
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