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- Quarterly results provided the prime mover in Wednesday's pre-market action. Netflix (NASDAQ:NFLX) led the way, dropping in the wake of its latest financial results.
- WD-40 (NASDAQ:WDFC) and Brinker International (NYSE:EAT) also saw setbacks in pre-market action after both announced quarterly numbers that suffered from inflation and supply-chain issues.
- Elsewhere, United Airlines (NASDAQ:UAL) posted a pre-market advance following the release of its results. A rosy post-COVID outlook helped give shares a boost.
- Meanwhile, Hancock Whitney (NASDAQ:HWC) was another earnings-inspired winner before the opening bell.
Decliners
- Netflix (NFLX) lost ground in pre-market trading following the release of its quarterly results. The company beat expectations with its earnings figure and its subscriber numbers, but only met consensus with its revenue. Shares slipped about 2% on the news.
- Quarterly results also sparked a massive sell-off in WD-40 (WDFC). Shares dropped 10% after WDFC's latest earnings missed expectations.
- Supply-chain problems led to a 5% decline in revenue for the firm's Americas unit. Overall, sales rose about 3% to $115.2M.
- Brinker International (EAT) also staged a major pre-market retreat, plunging 14% on a disappointing earnings report. The company failed to meet consensus on both its top and bottom lines.
- EAT said it suffered from higher-than-expected labor and commodity costs. This drove the firm's operating margin down, falling to 10.4% compared to 11.6% in the same period last year.
Gainers
- United Airlines (UAL) advanced in pre-market action, climbing almost 2% after reporting a Q3 loss that wasn't as steep as analysts had predicted. The company also gave an upbeat outlook for the ramp-up of European travel as COVID restrictions loosen.
- Better-than-expected results also drove gains in Hancock Whitney (HWC). The company beat expectations on earnings and revenue, with a top-line figure that rose nearly 3% from last year to reach $330.8M.
- Looking for more of the day's biggest winners and losers? Turn to SA's dynamic On The Move section.