Stocks – Caterpillar, Eli Lilly, Texas Instruments Fall Premarket; Boeing Rises

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© Reuters. © Reuters. – Stocks in focus in premarket trading on Wednesday:

Caterpillar (NYSE:) stock slipped 0.3% in premarket trade by 8:20 AM ET (12:20 GMT) after revenue declined by 6% in the third quarter. Caterpillar said it expected further inventory reduction in the fourth quarter and slashed its earnings per share guidance by over 10%.

• Boeing (NYSE:) stock was up 1.6% after it said it expects its 737 MAX jet to return to service in the fourth quarter. Still, most airlines have cut flights of the jet until early 2020.

• Eli Lilly (NYSE:) stock slumped 2.7% after its revenue came in below forecasts, reflecting flat sales in the U.S.

Nike (NYSE:) stock was in focus on news that CEO Mark Parker is stepping down in January and becoming an executive chairman at the apparel company. He will be replace by ServiceNow (NYSE:) CEO John Donahoe. Donahoe will be succeeded at ServiceNow by Bill McDermott, who last week announced he’s stepping down as CEO of Germany’s SAP (DE:).

• Texas Instruments (NASDAQ:) stock declined 7.8% after its forecast for the full year came in much worse than expected, increasing concerns about the global semiconductor industry in light of the long-running U.S.-China trade war.

• Facebook (NASDAQ:) stock inched down 0.1% ahead of CEO Mark Zuckerberg’s scheduled testimony on Capitol Hill just one day after 47 attorney generals joined New York in an antitrust probe into the company.

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