Check out the companies making headlines before the bell: Helmerich & Payne — The drilling rig company fell more than 7% following disappointing earnings results. In its fiscal fourth quarter, Helmerich and Payne reported an adjusted loss of 1 cent per share, missing the FactSet consensus estimate of 23 cents earnings per share. On the other hand, revenue beat analysts’ expectations. Home Depot — The stock pulled back 1.2% after the company reported third-quarter earnings that missed analyst expectations. The home improvement giant earned $3.74 per share, adjusted, while analysts polled by LSEG had forecast a profit of $3.84 per share. Home Depot also cut its full-year earnings outlook. Blue Owl Capital — The alternative asset manager fell 1%, putting it on pace to build on its 5.8% decline from the prior session. The stock has fallen for three trading days in a row. Investors in the private fund face big losses and will be blocked from redeeming their money until next year, according to reports. Amer Sports — Shares jumped 8% after the sports equipment company behind brands such as Salomon and Wilson topped expectations in its most recent earnings results. Earnings of 33 cents per share, excluding items, exceeded the earnings of 25 cents per share expected by analysts polled by FactSet. Revenue of $1.76 billion also came in above the forecasted $1.72 billion. Axalta Coating Systems — The coatings company gained more than 6% after it and AkzoNobel announced an all-stock merger with an enterprise value of $25 billion. Barrick Mining — The gold miner rose 2.8% following a Financial Times report that activist investor Elliott Management has built a large stake in the company. Elliott was encouraged by the idea that Barrick could split into two companies, the report said, citing people familiar with the matter. James Hardie Industries — U.S.-listed shares of the Irish building materials firm rallied 8.5% after second-quarter revenue came in at $1.29 billion, above the consensus forecast of $1.28 billion from analysts polled by FactSet. Adjusted earnings per share matched analyst expectations at 26 cents. James Hardie also hiked its full-year guidance for adjusted EBITDA. Rheinmetall — The German defense stock rose 2% on Tuesday after the company told investors to expect sales to quintuple over the next five years, amid rising geopolitical tensions and the war in Ukraine. — CNBC’s Michelle Fox, Alex Harring and Fred Imbert contributed reporting.
Stocks making the biggest moves premarket: HD, OWL, AS, HP
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