Check out the companies making the biggest moves in premarket trading: Alphabet — The Google parent dropped 11% after its third-quarter earnings showed the company posted negative free cash flow of $9.07 billion. Its core search revenue of $63.35 billion missed the $64.96 billion estimate from analysts. Total company revenue of $127.58 billion also missed LSEG expectations of $128.22 billion. Caterpillar — Shares slid 9% even after the company reported third-quarter earnings and revenue that beat the Street. The company earned an adjusted $7.20 per share on revenue of $20.68 billion. Analysts polled by LSEG expected a profit of $7.08 per share on revenue of $20.55 billion. However, sales for its construction industries business came in slightly below estimates. DoorDash , Maplebear — DoorDash announced it is acquiring the Instacart parent for $65 per share. That is an 11% premium from Maplebear’s closing price on Wednesday. DoorDash also reported a revenue and EBITDA beat for its third quarter. Maplebear was up 4.8% before trading was halted, while DoorDash rose 7%. Eli Lilly — The Zepbound and Mounjaro maker handily beat expectations for its third quarter, sending shares 4% higher. Eli Lilly saw adjusted earnings of $7.48 per share, compared with the consensus estimate $6.26 a share, per LSEG. Revenue came in at $24.4 billion, topping the $22.61 billion expected from analysts. Marvell Technology , Lumentum — Lumentum shares jumped 5% after Bloomberg News reported, citing sources that the data center optics manufacturer was in talks to be acquired by Marvell. A deal could be announced as soon as next week, the report said . Marvell shares dropped more than 11%. Microsoft — The software giant rose 2% after the company reported a beat on the top and bottom lines for its fiscal first-quarter earnings. Revenue came in at $92.28 billion, ahead of the $90.69 billion expected by LSEG. Meanwhile, adjusted earnings of $4.89 per share was better than the $4.73 expected by analysts. Revenue in the mega-cap’s key Azure cloud business grew 48% year over year. Shell — The oil major climbed 3.6% after it nearly doubled its third-quarter profit from the year prior to $10.81 billion. Analysts polled by LSEG were expecting $9.92 billion. Norwegian Cruise Line — The cruise operator jumped 9.5% following its beat on the top and bottom lines. Norwegian reported adjusted earnings of $1.12 per share, topping the consensus estimate of 93 cents, according to FactSet. Revenue was $2.95 billion, versus the $2.88 billion anticipated by analysts. Chipotle Mexican Grill — Shares gained nearly 8% after the burrito chain reported same-store sales that beat estimates. Same-store sales in the third quarter grew 2.1%, versus the 1.5% increase analysts polled by FactSet anticipated. ServiceNow — The enterprise software company tumbled 20%. Third-quarter adjusted profit of $1 per share missed the LSEG consensus expectation of $1.02 a share. Subscription revenue guidance for the fourth quarter ranged from $4.245 billion to $4.255 billion, while the FactSet consensus called for $4.25 billion. Fortinet — The cybersecurity company plummeted 25.5%. Non-GAAP gross margin for the third quarter came in at 79.6%, while analysts polled by LSEG sought 80.1%. Separately, top and bottom-line results beat the Street’s expectations. Sprouts Farmers Market — The Phoenix-based grocery chain plunged 23% after third-quarter earnings per share, revenue and same-store sales all trailed analysts’ consensus estimates, according to FactSet data. Harley-Davidson — Shares of the motorcycle maker dropped 5% following a revenue miss in its latest quarter. Harley-Davidson posted revenue of $964.0 million, falling short of the StreetAccount consensus estimate of $1.07 billion. On the other hand, adjusted EBITDA of $93.9 million topped the FactSet consensus of $78.9 million. Crocs — The footwear stock surged nearly 18% after Crocs posted third-quarter earnings that beat expectations, and issued stronger-than-expected current quarter guidance. It posted earnings of $3.69 per share, excluding items, on revenue of $1.04 billion. Analysts polled by FactSet anticipated earnings of $3.31 per share on revenue of $1.00 billion. eBay — Shares climbed more than 6% after the company reported stronger-than-expected third-quarter results. Revenue rose 14% to $3.2 billion, while gross merchandise volume increased 15%. Growth from Depop, accelerating GMV, and raised full-year guidance gave investors further confidence in eBay’s strategy. Honeywell Aerospace — The aerospace company was down 4% even after raising its full-year outlook for pro forma standalone adjusted earnings per share, calling for $7.85 to $8. The company also announced an initial quarterly cash dividend of 40 cents per share. Carvana — The used car dealer climbed 8%. Carvana third-quarter revenue and adjusted EBITDA topped the numbers Wall Street had been expecting, and it said the Securities and Exchange Commission closed a previously disclosed investigation and would not take any enforcement action. CNBC’s Darla Mercado, Fred Imbert, Sarah Min, Paulina Likos, Scott Schnipper, Deena Zaidi and Nick Wells contributed reporting.
Stocks making the biggest moves premarket: Alphabet, Caterpillar, Eli Lilly, DoorDash & more
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- Eli Lilly and Co
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