Delta Airlines Shares fell nearly 9% in premarket trading after the company’s third-quarter revenue forecast fell short of analysts’ expectations. Despite strong summer travel demand, the airline expects lower fares due to increased capacity.
Costco Wholesale Shares rose slightly after the retail giant reported better-than-expected second-quarter earnings and raised its full-year profit forecast. Strong membership growth and robust discretionary sales boosted Costco’s performance.
Pfizer Shares rose slightly as the drug company announced positive results from its Phase 3 trial for a new respiratory syncytial virus vaccine candidate. The vaccine showed high efficacy in preventing severe respiratory syncytial virus disease in adults 60 and older.
Other notable actors:
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United Airlines: Shares fell after the airline reported second-quarter earnings that met analysts’ expectations but missed revenue expectations.
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General Electricity: Shares edged up modestly as the industrial conglomerate raised its full-year profit forecast, citing strong growth in its aviation and health care businesses.
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Johnson & Johnson: Shares fell slightly after the company reported second-quarter earnings that fell short of analysts’ expectations due to supply chain disruptions and product recalls.
General Market Sentiment:
U.S. stock futures were mixed in premarket trading, signaling a cautious start to the trading day. Investors are awaiting a series of economic data releases this week, including the Federal Reserve’s Beige Book, which provides insights into regional economic conditions.
Please note that these pre-market moves are subject to change at the start of trading.