Check out the companies making headlines before the bell. Tesla – The electric car maker’s stock soared nearly 13% thanks to better-than-expected third-quarter profits. CEO Elon Musk said the company expects auto growth to be between 20% and 30% next year. United Parcel Service – Parcel stock rose more than 7% after the company’s third-quarter earnings and sales growth. During the period, UPS earned $1.76 per share on revenue of $22.25 billion, beating LSEG’s consensus estimates of $1.63 per share on revenue of $22.14 billion. Lam Research – Shares rose more than 6% after the semiconductor equipment maker’s first-quarter earnings beat Wall Street expectations. The company posted earnings of 86 cents per share and revenue of $4.16 billion, beating LSEG’s consensus estimates of 80 cents per share and revenue of $4.05 billion. Seadrill – Shares rose more than 9% after Bloomberg News reported that the company was in merger talks with rival Transocean, citing people familiar with the matter. According to Bloomberg News sources, no deal has yet been finalized and the two companies may choose to remain independent. NEWMONT – Shares fell more than 4% after the company reported lower-than-expected third-quarter results. Newmont reported earnings per share, excluding items, of 81 cents on revenue of $4.61 billion. Analysts polled by FactSet had expected 86 cents per share and revenue of $4.67 billion. QuantumScape – Shares rose more than 17% after the company’s third-quarter results met expectations. The lithium battery maker suffered a loss of 23 cents per share. T-Mobile – Shares rose more than 2% after the company’s better-than-expected third-quarter results. T-Mobile earned $2.61 per share on revenue of $20.16 billion. Analysts polled by FactSet expected earnings of $2.43 per share and revenue of $20.01 billion Boeing – Boeing machinists have rejected a new collective bargaining agreement and extended a five-week strike. As a result, the stock price fell 3.7%. Mattel – The toy maker rose 2.1% despite mixed third-quarter results. Mattel’s earnings, excluding items, were $1.14 per share, beating LSEG’s consensus estimate of 95 cents per share. However, the company reported revenue of $1.84 billion for the quarter, slightly below the $1.86 billion that Wall Street had expected. Honeywell – Shares fell about 2% after the company missed third-quarter earnings estimates. Honeywell’s revenue was $9.73 billion, below the consensus estimate of $9.91 billion, according to FactSet. However, profits exceeded expectations. Northrop Grumman – Shares rose 1% after the defense company reported third-quarter earnings of $7 per share, beating the consensus estimate of $6.07 per share from analysts surveyed by LSEG. I did. On the other hand, the company had revenue of $10.00 billion in the quarter, even though analysts were estimating it to be $10.18 billion. Southwest Airlines – Shares rose 1% after the airline’s third-quarter earnings report. Adjusted earnings were 15 cents per share, but analysts surveyed by FactSet expected the company to break even. Sales were $6.87 billion, exceeding expectations of $6.47 billion. Southwest Airlines also said it expects revenue to increase in the fourth quarter. Molina Healthcare – Shares rose 10% after the managed care company beat analyst expectations in its latest quarter. Molina Healthcare posted adjusted earnings of $6.01 per share, beating the LSEG consensus estimate of $5.81 per share. Sales were $10.34 billion, exceeding expectations of $9.91 billion. IBM – Shares fell more than 3% after the company missed third-quarter earnings estimates. IBM’s revenue was $14.97 billion, below FactSet’s estimate of $15.06 billion. Whirlpool – Shares rose 4% after the consumer electronics company beat expectations for the third quarter. Whirlpool earned $3.43 per share, beating analysts’ estimates of $3.20 per share polled by FactSet. American Airlines – Shares fell more than 3% even though the company beat Street estimates for the third quarter. American Airlines also raised its full-year outlook due to a shift in its sales strategy. “We have taken aggressive action to reset our sales and distribution strategy and re-engage the business travel community. I am confident that this will improve over time.” —CNBC’s Alex Harring, Sarah Min and Michelle Fox Theobald contributed reporting.
