Stocks in focus in pre-market trade Monday:
• Caterpillar (NYSE:CAT) stock jumped 3.75% by 8:18 AM ET (12:18 GMT) after the company reported better-than-expected earnings per share for the second quarter and raised its full-year outlook.
• American Express (NYSE:AXP) fell 1.11% as the Wall Street Journal reported that the company’s foreign exchange department increased currency conversion rates without informing customers.
• Loews (NYSE:L) stock dropped 0.96% as quarterly earnings per share missed consensus.
• Goodyear (NASDAQ:GT) stock lost 0.86% after the company lowered its full-year operating income guidance to total between $1.45 billion and $1.5 billion, from the prior $1.8 billion to $1.9 billion. It explained that the reduction was due to a $130 million increase in raw material costs, a $60 million unfavorable swing in foreign currency due to a stronger U.S. dollar and a $70 million headwind due to softening market conditions in China.
• Sohu.Com (NASDAQ:SOHU) tumbled 8.19% after reporting that second quarter online game revenues fell 23% from a year earlier.
• Redhill Biopharma (NASDAQ:RDHL) soared 26.83% after the company reported positive top-line results from a Phase III study with RHB-104 for Crohn’s disease.