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EARLY MOVERS: Alibaba surges as 3Q impresses Wall Street but Universal Display fails to shine as earnings disappoint

Also in focus before the New York bell are companies Newell Brands Inc and Symantec Corp

Alibaba shares were in focus before the New York bell

Shares in Chinese e-commerce titan Alibaba Group Holding Ltd (NYSE:BABA) surged nearly 4% in  pre-market New York deals to $156.47.

It came as third-quarter earnings came in better than scribes on  Wall Street had expected.

Earnings per share (EPS) for the three months was $1.40, which was $0.34 better than the $1.06 expected.

Meanwhile revenue for the China-focused firm was $12.4 billion versus the consensus estimate of $12.49 billion.

Also in earnings, consumer goods group Newell Brands Inc (NYSE:NWL) reported third-quarter earnings, which beat expectations, though sales were off.

Excluding non-recurring items, earnings per share (EPS) came to $0.81, smashing consensus of $0.65.

Sales fell 10.9% to $2.28 billion, which was below the $2.35 billion analysts had penciled in.

But Newell raised its 2018 adjusted EPS guidance range to between $2.55 and $2.75 from $2.45 to $2.65, and repeated sales outlook of between $8.7 billion and $9.0 billion.

Elsewhere, cybersecurity firm Symantec Corp (NASDAQ:SYMC) boasted of a near 9% share price rise before the New York bell after its quarterly numbers.

Shares are at $20.24 at the time of writing.

Adjusted earnings for the second quarter were $0.42 while revenue slipped to $1.18 billion from $1.24 billion in the year-ago period.

Analysts had forecast earnings of $0.33 on revenue of $1.15 billion.

Going the other way in pre-market, Universal Display Corp (NASDAQ:OLED)  shares tanked over 26% to $95.40  after the display and lighting company's results fell below estimates.

Third quarter net income was $0.48 versus $0.28 in the year-ago period.

Revenue rose to $77.6 million from $61.7 million a year ago. Analysts had had forecast earnings of $0.66 on revenue of $91.4 million.

Puma Biotechnology Inc (NASDAQ:PBYI) shares are crashing almost 35% before the New York bell, despite beating consensus on its quarterly numbers.

Shares have plunged over 60% since the beginning of the year

The company posted a quarterly loss of $0.37 per share versus consensus of a loss of $1.07.

That compared to a loss $1.36 per share a year ago.

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