Estee Lauder Beats Expectations with 15% Surge in Stock – Check Out Pre-Bell Headline Makers!

New York, United States – Several major companies made headlines in the stock market before the bell. Estee Lauder saw a 15% surge in its stock after beating expectations in its latest quarterly results. The cosmetics company reported adjusted earnings of 88 cents per share, surpassing the FactSet consensus estimate of 54 cents per share, and generated revenue of $4.28 billion, exceeding analyst predictions.

Catalent, a contract drug manufacturer, experienced a more than 12% increase in its shares after agreeing to be acquired by Novo Holdings for $63.50 per share in an all-cash deal valued at $16.5 billion. Meanwhile, Caterpillar, a heavy machinery maker, witnessed a more than 4% boost in its shares after reporting adjusted earnings per share of $5.23 for the fourth quarter, with particularly strong sales in North America.

On the other hand, Air Products and Chemicals saw a 9% drop in its shares following disappointing quarterly results, reporting weaker than expected adjusted earnings and revenue. Similarly, GlobalFoundries experienced a 2% decline in its stock after being downgraded by JPMorgan, citing a “deeper cycle bottom” as manufacturing activity weakens.

In contrast, Nvidia’s shares increased by about 3% after Goldman Sachs raised its price target to $800, citing sustained strength in demand for accelerated computing. Stellantis, however, saw a 1.7% decline in its shares after reports of the French government reviewing a potential merger between Stellantis and Renault to compete with other automakers.

The article continues by delving into the stock performances of McDonald’s, Elanco Animal Health, and Mattel, highlighting the mixed quarterly results and acquisition plans impacting these companies’ stock prices.

In summary, the pre-market stock movements of these companies reflect a mix of positive and negative performances, shaping the market’s expectations for the trading day ahead.