Colgate, Momentive Global, and more Companies Making Stock Price Moves
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In the list of companies making significant stock price moves, the first company is Colgate-Palmolive that has shown great performance. In the report, Colgate has revealed that has achieved earnings worth 81 cents per share in the premarket trading. However, the analysts had estimated that the company would achieve earnings of 79 cents per share. This means that the company has successfully beaten the estimations made by the analysts.
Colgate executives were really excited about the company being able to achieve such results. They stated that they were not sure whether they would be able to meet the estimations or not. The reason that led them to lose their confidence was the high costs of logistics and raw materials.
Next on the list is Momentive Global that has experienced a great loss in the stock prices in the premarket trading. Momentive Global is SurveyMonkey’s parent company that has experienced a 5.7% loss in the stock prices in the premarket trading. The company recently announced that it had acquired Zendesk, a customer service platform operator. It was confirmed that the deal between the two companies for the acquisition was worth $4.13 billion. Since the announcement, the stock prices for Zendesk have also experienced a huge loss of around 18.5% in premarket trading.
Things are not looking good for major tech giants as after Facebook, Apple is also experiencing a loss in the share prices. According to reports, a drop has been experienced in the share prices for Apple in the premarket trading. The drop was experienced after Apple shared its quarterly earnings report. In the report, Apple reported that despite being able to match $1.24 per share earnings, it wasn’t able to meet the estimates for revenues.
Apple executives revealed that it has happened for the first time since 2016 that Apple has failed to meet the revenue target. Similar to other tech manufacturing companies, Apple also blamed the supply chain issues that resulted in the company’s loss of revenue. Due to the delays in the supply chain, the manufacturing of iPhones, iPads, and other products was impacted. As a result of negative results, Apple’s stock prices have experienced a 3.6% fall in premarket trading.
Amazon comes next on the list as it has experienced a 4.5% drop in the stock prices in the premarket trading. The company has reportedly experienced a drop after sharing its earnings report for the third quarter of 2021. In the earnings report, Amazon has revealed that the earning estimations made by the analysts for the third quarter were $8.92 per share. However, the company was only able to achieve earnings worth $6.12 per share.
Similar to earnings, Amazon also failed to meet the revenues for the particular quarter. Amazon also reported that it faced issues with supply chains as well as facing labor shortages. This led to the company’s downfall in earnings and revenues.
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