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Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Lots happening on the earnings front this morning, Dan, but we got to start off with the breaking news on Netflix. This has a little bit to do with the earnings this week as well. I venture to say good morning.
Good morning, Nathan. Netflix shares are up one percent in the pre market under ticker n FLX as the company announces a twenty five billion dollars share back program. Now this comes after, you know, we talked about it, you know, off of earnings. As you mentioned, Netflix shares fell after the after a week forecast, the news that read Hastings was stepping down. The shares hit record highs in June, but they have since fallen thirty percent, so the company
is looking to try and turn those shares. That's working in the pre market. It also happens after Netflix bout out of the bidding war that we covered for so long on here for Warner Brothers, so it won't need the cash for that acquisition. It's looking to see how it can use its war chest, so it's buying back some shares to help do that.
We got some headlines this morning that Warner Brothers shareholders are going to be voting on the paramount Skydance deal today, so we'll probably be watching those shares as well. But let's talk about some of the stocks that have reported earnings this morning. Looks like disappointment from Honeywell.
Yeah, so Honeywell ticker HO and those shares are down seven percent in the pre market. First quarter earnings beat, but the second quarter guidance was below estimates. High end of both sales and revenue ranges for that guidance were below Wall Street's estimates. The company is seeing up to one hundred and fifty million dollar impact from the Middle
East conflict. Despite the two Q guidance coming in a bit soft, it is maintaining full year outlook Despite that un certainty, the first quarter earnings themselves did come out ahead of estimates despite a slight revenue miss, and also in other news, company announced it would sell its warehouse and workflow solutions business to buy out from American Industrial Partners. That's the second divestiture from this company this week.
Okay, and we also got earnings from Lockheed Martin before the opening bell as well.
Yeah, so those shares are down five percent in premium market under ticker LMT. The defend company's first quarter net sales missed estimates. Fire and missile control net sales grew eight percent. That was shy of estimates. This is something we're watching, you know, around the Iran War. Other business lines aeronautics, rotary and mission systems also saw net sales
come in short. The space business did post a be and I'm mentioning this because they were behind the Orion capsule using the ard Miss two mission that we everyone followed so closely. Overall, earnings did come in at sixty four six dollars and forty four cents a share. That's forty four cents below estimates. And again on the on the forecast side, company is maintaining its forecast for the year.
Just time Dan to tell us how Tesla's shares are doing, after all, we learn following their earnings.
Report, those are down three percent underticker TSLA, as the ev maker is boosting its CAPEX to more than twenty five billion dollars for the year. That's five billion dollars more than the prior outlook. The investments be put toward expanding factory operations. Part of that does include spending three billion dollars on chip fabrication, and Intel has signed on as a partner. Intel shares are up one percent in the pre market offs that news.
This Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.