Check out the companies making headlines before the bell. Tesla – Shares of the electric vehicle maker soared nearly 13% thanks to the company’s better-than-expected profit for the third quarter. The company also expects to see vehicle growth of 20% to 30% next year, according to CEO Elon Musk. United Parcel Service – The parcel delivery stock rose more than 7% on the heels of the company’s third-quarter earnings and revenue beat. For the period, UPS earned $1.76 per share on $22.25 billion in revenue, above the LSEG consensus estimates of $1.63 per share and $22.14 billion. Lam Research – The stock rose more than 6% after the semiconductor equipment maker’s fiscal first-quarter figures beat Wall Street expectations. The company posted earnings of 86 cents per share on revenue of $4.16 billion, above the consensus estimate of 80 cents per share and revenue of $4.05 billion, per LSEG. Seadrill – Shares rose more than 9% after Bloomberg News, citing people familiar with the matter, reported the company is in merger talks with rival Transocean. A deal has not been finalized and the companies could choose to stay independent, according to Bloomberg News sources. Newmont – The stock fell more than 4% after the company posted weaker-than-expected earnings for the third quarter. Newmont posted earnings of 81 cents per share, excluding items, on revenue of $4.61 billion. Analysts polled by FactSet were expecting 86 cents per share on $4.67 billion in revenue. QuantumScape – Shares surged more than 17% after the company’s third-quarter results were in line with expectations. The lithium batter manufacturer lost 23 cents per share. T-Mobile – The stock rose more than 2% following the company’s better-than-expected third-quarter results. T-Mobile earned $2.61 per share on revenue of $20.16 billion. Analysts polled by FactSet anticipated earnings of $2.43 per share and $20.01 billion in revenue Boeing – Shares fell 3.7% after Boeing machinists rejected a new labor deal , extending a five-week strike. Mattel – The toymaker gained 2.1% even after posting mixed third-quarter results. Mattel earned $1.14 per share, excluding items, beating the LSEG consensus forecast of 95 cents per share. However, the company posted $1.84 billion in revenue for the quarter, which was modestly under the $1.86 billion figure anticipated by Wall Street. Honeywell – The stock fell about 2% after the company missed revenue estimates for the third quarter. Honeywell posted $9.73 billion, below the consensus estimate of $9.91 billion, per FactSet. Earnings, however, came in better than expected. Northrop Grumman – Shares advanced 1% after the defense company posted $7 in earnings per share for the third quarter, exceeding the consensus estimate of $6.07 a share from analysts polled by LSEG. On the other hand, revenue came in at $10 billion for the quarter, despite analysts penciling in $10.18 billion. Southwest Airlines – The stock added 1% following the airline’s third-quarter earnings report . Adjusted earnings totaled 15 cents per share, while analysts polled by FactSet expected the company to break even. Revenue was $6.87 billion, above the $6.47 billion expected. Southwest also said it is expecting higher revenue in the fourth quarter. Molina Healthcare – Shares surged 10% after the managed care company beat analysts’ expectations in its latest quarter. Molina Healthcare posted adjusted earnings of $6.01 per share, better than the LSEG consensus estimate of $5.81 in earnings per share. Revenue of $10.34 billion exceeded the forecast $9.91 billion. IBM – The stock fell more than 3% after the company missed revenue expectations for the third quarter. IBM posted $14.97 billion, below the FactSet estimate of $15.06 billion. Whirlpool – Shares popped 4% after the home appliance company topped third-quarter expectations. Whirlpool posted earnings of $3.43 per share, more than the $3.20 per share expected by analysts polled by FactSet. American Airlines – The stock fell more than 3% despite the airline topping the Street’s estimates for the third quarter . American Airlines also raised its outlook for the full year in the aftermath of its sales strategy shift. “We have taken aggressive action to reset our sales and distribution strategy and reengage the business travel community, which we’re confident will improve our revenue performance over time,” CEO Robert Isom said in an earnings release. — CNBC’s Alex Harring, Sarah Min and Michelle Fox Theobald contributed reporting.
Stocks making the biggest moves premarket: TSLA, UPS, LRCX, IBM
