Check out the companies making the biggest moves in pre-market trading: Meta Platforms — Shares rose 9%. The social media giant expects first-quarter revenue to be in the range of $53.5 billion to $56.5 billion, beating analysts’ consensus estimate of $51.41 billion. Fourth-quarter earnings were $8.88 per share on revenue of $59.89 billion, compared to LSEG’s consensus of $8.23 per share and revenue of $58.59 billion. Meta’s Reality Lab division posted a higher-than-expected operating loss. Southwest Airlines — The airline rose 5.3% as it forecast a sharp rise in profits in 2026 on the back of a revised business model. Southwest Airlines said it expects adjusted earnings per share to be at least $4 in 2026. This is higher than analysts’ expectations of $3.19, according to LSEG estimates. Tesla — Shares rose 2.3% after the company reported better-than-expected fourth-quarter results. Tesla reported adjusted earnings of 50 cents per share on revenue of $24.9 billion, compared to analyst estimates compiled by LSEG of 45 cents per share and revenue of $24.79 billion. Indeed, Tesla’s annual sales fell 3% over the same period, marking the first time on record that the company posted an annual decline. Caterpillar — The industry giant rose 1.4% after reporting better-than-expected fourth-quarter results. The company had revenue of $19.13 billion and adjusted earnings per share of $5.26. Analyst estimates compiled by LSEG were for earnings of $4.68 per share and sales of $17.86 billion. The beat was driven by a 23% increase in power and energy sales. International Business Machines — Shares soared nearly 10%. IBM’s fourth-quarter adjusted earnings were $4.52 per share on revenue of $19.69 billion, compared with analyst estimates compiled by LSEG of $4.32 per share on revenue of $19.23 billion. Revenues from software and infrastructure exceeded estimates by FactSet Street accounts. CEO Arvind Krishna said in a release that IBM’s generative artificial intelligence book of business has surpassed $12.5 billion. Royal Caribbean — The cruise line soared 7% after the company said it expected first-quarter adjusted earnings in the range of $3.18 to $3.28 per share, beating analysts’ estimates of $2.91 per share compiled by LSEG. Adjusted earnings per share of $2.80 in the fourth quarter were in line with expectations, but sales were below expectations. Dow — The chemical company fell 2% after its latest financial results. Dow’s fourth-quarter revenue of $9.46 billion matched FactSet consensus estimates. However, operating EBITDA of $741 million exceeded analysts’ expectations of $665 million. ServiceNow — The software stock fell 8% even though the company reported better-than-expected fourth-quarter profits. ServiceNow earned 92 cents per share on an adjusted basis on revenue of $3.57 billion. Analysts surveyed by LSEG had expected earnings of 88 cents per share on revenue of $3.53 billion. The company expected first-quarter subscription revenue to be in the range of $15.53 billion to $15.57 billion, also above expectations. The stock has been under pressure since the start of the year, having fallen 15% year-to-date on concerns that AI could hurt software companies’ profitability. Microsoft — The tech giant fell 7%. Cloud growth slowed in the second quarter of the fiscal year, and the software giant gave a downbeat outlook for operating margins in the third quarter of the fiscal year. LSEG said adjusted earnings were $4.14 per share, beating consensus estimates of $3.97 per share. Microsoft’s revenue for the quarter was $81.27 billion, beating expectations of $80.27 billion. Las Vegas Sands — The casino operator’s stock fell 9%. Macau’s net revenue for the quarter came in at $2.06 billion, narrowly beating the Street account consensus call of $2.0 billion. Separately, adjusted earnings were 85 cents per share on revenue of $3.65 billion, beating LSEG consensus estimates of 76 cents per share and $3.34 billion. L3 Harris — Defense contractor fell nearly 5%. L3Harris reported fourth-quarter revenue of $5.65 billion, falling short of the $5.77 billion expected by analysts surveyed by FactSet. However, adjusted earnings per share were $2.86, beating the consensus estimate of $2.76. Honeywell — Shares fell 0.6% in premarket after mixed fourth quarter numbers. The company earned $2.59 per share, excluding certain items. This beat LSEG’s estimate of $2.54 per share. However, sales were $9.76 billion, below the consensus of $9.85 billion. International Paper — The packaging giant announced Thursday that it will split into two separate companies, sending its stock price up 3%. As a result of this separation, the European business will be separated from the North American business. International Paper also reported higher fourth-quarter sales, but earnings per share were lower than analysts expected. Lockheed Martin — The defense contractor rose 5.5% after its fourth quarter results. Lockheed Martin reported earnings of $5.80 per share and revenue of $20.32 billion. Analyst estimates compiled by LSEG were for earnings of $5.70 per share and revenue of $19.85 billion. The full-year EPS outlook also exceeded expectations. NASDAQ — Shares rose 1.3% after the exchange operator posted wins on both the top and bottom lines. Fourth-quarter adjusted earnings were 96 cents per share, beating LSEG’s consensus estimate of 91 cents. Nasdaq’s revenue was $1.39 billion, beating analysts’ expectations of $1.37 billion. — CNBC’s Fred Imbert contributed reporting.
