CVS Health, AMD, Yum Brands Rise Premarket; Estée Lauder, Airbnb Fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, November 2nd. Please refresh for updates.
CVS Health (NYSE: CVS) stock rose 0.9% after the healthcare company raised its annual profit forecast after topping quarterly estimates on strong performance at its health insurance and pharmacy benefit management businesses.
Airbnb (NASDAQ: ABNB) stock fell 6% after the vacation rental company forecast holiday quarter revenue falling short of market expectations, saying a strong dollar had started to pressure its business and bookings would moderate.
Advanced Micro Devices (NASDAQ: AMD) stock rose 6.2% after the semiconductor forecast strength in its data center business and promised to be careful with spending.
Prudential Financial (NYSE: PRU) stock fell 2% after the insurer reported a fall in quarterly adjusted profit as its assets under management came under pressure from a recent selloff in global markets.
Estée Lauder (NYSE: EL) stock slumped 11% after the cosmetics giant cut its full-year forecasts, citing store closures from persistent COVID-19-related lockdowns in key market China.
Yum! Brands (NYSE: YUM) stock rose 0.7% after the fast food company beat estimates for quarterly comparable sales, benefiting from price hikes and steady demand.
Humana (NYSE: HUM) stock fell 0.3% after the health insurer affirmed its annual adjusted profit forecast after its quarterly results, suffering by comparison after its main rivals lifted their annual earnings outlook last month.
- Paramount Global (NASDAQ: PARA) stock fell 8.7% after the media giant missed with its quarterly revenue result, as it struggled with the absence of major content releases and an extended weakness in ad sales.
Canada Goose (NYSE: GOOS) stock fell 9.7% after the clothes retailer trimmed its full-year revenue and profit forecasts, citing COVID-19-related restrictions hitting sales in China.
- GlaxoSmithKline (NYSE: GSK) ADRs rose 1.7% after the drugmaker lifted its full-year earnings and sales outlook, following better-than-expected third quarter results, helped by record demand for its Shingrix shingles vaccine.