4 Super Hot Stocks: Merck and AMD Surge Higher, Chevron Falls, and Whirlpool Cuts 5,000 Jobs
Merck & Co. (NYSE:MRK) is trading 3% higher before the opening bell. Third quarter net income increased to $1.69 billion (55 cents per share), compared to $342 million (11 cents per share) last year. “Three consecutive quarters of top and bottom line growth demonstrate out ability to consistently perform while at the same time making the strategic investments necessary for the future,” CEO Kenneth Frazier said in a statement. The company competes with Eli Lilly & Co. (NYSE:LLY) and Pfizer Inc. (NYSE:PFE).
Shares of Whirlpool (NYSE:WHR) are falling 11% in early trading. Although third quarter earnings more than doubled, the company announced a cost-reduction plan as sales grew slower than expected. The company expects to cut 5,000 jobs.
Chevron Corp (NYSE:CVX) is edging down in pre-market trading, despite the oil company reporting a doubling in profits. Third quarter profit came in at $7.8 billion ($3.92), compared to $3.8 billion ($1.87 billion) last year. Shares of Exxon Mobil (NYSE:XOM) and BP (NYSE:BP) are also trading lower.
Advanced Micro Devices (NYSE:AMD) is trading more than 10% higher before the opening bell. The company reported a third quarter profit of $97 million (13 cents per share), compared to a loss of $118 million (17 cents per share) last year.