As US stocks are set to open mixed on Friday and there is yet another barrage of corporate earnings, several stocks are in focus in pre-market.
One is shoe giant Skechers USA (NYSE:SKX), whose shares tanked almost 26% to US$24.62 in before -the bell-trade as it missed estimates for quarterly profit and revenue.
The firm said it was affected by declining sales at its domestic wholesale business and international distributor unit.
Skechers plunges more than 25% after-hours; company reports weak Q3 guidance, saying it sees revenues of $1.2B to $1.225B vs. $1.26B estimate and EPS of 50-55 cents vs. 68 cents estimate. https://t.co/a2k9NlCCUF pic.twitter.com/ePA0pv8gmq
— CNBC Now (@CNBCnow) 19 July 2018
The company posted net income of US$0.29 in the second quarter, against Wall Street expectations of US$0.40 per share.
Elsewhere, oil rig and services firm Baker Hughes (NYSE:BHGE) shares slid 0.57% before the bell to US$31.78 as it reported adjusted net income of US$41mln, or US$0.10 per share in the second quarter to end June.
The firm also announced a 2.4% rise in quarterly revenue after increased orders.
One of the top risers in pre-market was Stanley Black & Decker Inc (NYSE: SWK), which added 3.11% to US$144 in pre-market deals.
It came after results showed the tool maker's profit rose and beat analyts expectations.
Net income came in at US$1.93 per share. Earnings, adjusted for costs related to mergers and acquisitions, were US$2.57 per share.
The average estimate of eight analyts was for earnings to be US$2.03 per share.
Meanwhile, in pre-market, plumbing parts and engineering giant Honeywell International (NYSE:HON) climbed higher, adding 2.89% to stand at US$151.80 after it posted its quarterly results, in which it raised its full-year sales and earnings guidance for the third time this year.