Shares that make the most important strikes forward of the market: PepsiCo, Generac, Tempur Sealy, others
Check out the companies that are making the headlines before the bell:
PepsiCo (PEP) – The drinks and snacks giant beat estimates a dime with adjusted quarterly earnings of $ 1.47 per share, and sales were also above estimates. The company expects organic sales and adjusted earnings growth this year, and also announced a 5% increase in its dividend.
Generac (GNRC) – Generac stock rose 3% in pre-market trading after the backup generator maker beat estimates for the last quarter on the income statement and net sales grew 25-30 percent expected this year.
Restaurant Brands (QSR) – The parent company of Popeyes, Burger King and Tim Hortons missed estimates by 12 cents with adjusted quarterly earnings of 53 cents per share, while sales were slightly above forecasts. Shares fell roughly 2% ahead of market entry as comparable restaurant sales declined more than expected.
Tempur Sealy (TPX) – The mattress maker's shares rose 12% ahead of its IPO after beating forecasts by 15 cents, with adjusted quarterly earnings of 67 cents per share. Sales also exceeded estimates, with Tempur Sealy forecasting sales growth of 15% to 20% in 2021.
LabCorp (LH) – A medical laboratory operator reported adjusted quarterly earnings of $ 10.56 per share, well above the consensus estimate of $ 8.11, and revenue was also above projections. Results were improved by Covid-19 testing and stocks rose 3.6% before entering the market.
Molson Coors (TAP) – The brewer's shares fell 4.5% prior to entering the market as adjusted quarterly earnings of 40 cents per share were well below the consensus estimate of 77 cents. Results were hurt by the ongoing Covid-19 restrictions on restaurants and bars.
Kraft Heinz (KHC) – Kraft Heinz stock gained 1.7% prior to entering the market as it beat last quarter estimates on the income statement and sold its Planters Snacks business to Hormel (HRL ) for $ 3.35 billion.
Uber Technologies (UBER) – Uber posted a quarterly loss of 54 cents per share, 2 cents less than expected, with sales slightly below estimates. Uber's results were supported by an expansion in its grocery delivery business as well as cost reductions. Uber stocks fell 3.8% ahead of the IPO.
Bumble (BMBL) – Bumble makes its Wall Street debut today after going public at $ 43 per share, above the already increased expected range of $ 37-39 per share. The dating service raised $ 2.2 billion when it went public for a total of more than $ 7 billion.
Sonos (SONO) – Sonos stock rose 17% in pre-market trading after the high-end smart speaker maker topped both upper and lower estimates last quarter. Sonos was helped by stronger margins as there were no promotions in the quarter. In addition, the sales forecasts for the full year have been raised.
iRobot (IRBT) – iRobot achieved an adjusted 84 cents per share in the fourth quarter and was thus well above the consensus estimate of 84 cents. Revenue also significantly exceeded Wall Street's forecasts. The maker of the Roomba robotic vacuum cleaner also gave a strong sales and profit forecast for the full year. Shares rose 7.3% prior to trading.
Zillow Group (ZG) – Zillow beat estimates by 14 cents on adjusted quarterly earnings of 41 cents per share, with the operator of real estate websites also posting a sales hit. There was also a positive sales forecast, announcing the acquisition of the online home viewing platform ShowingTime.com for $ 500 million in cash. The Zillow share gained 12% in pre-market trading.
Zynga (ZNGA) – Frank Gibeau, CEO of Zynga, told Barron that the mobile game developer is open to a takeover bid despite not actively trying to sell the company. Zynga also reported a 61% increase in key net booking metrics last quarter, more than analysts expected.
XPO Logistics (XPO) – XPO achieved an adjusted value of $ 1.19 per share in the fourth quarter, well above the consensus estimate of 67 cents. The logistics company also had sales that were higher than forecast and gave a strong profit forecast for the full year. XPO is benefiting from a pandemic-induced acceleration in shipping activity due to an explosion in online shopping.
Merck (MRK) – Merck is in talks with governments and other drug manufacturers to support the manufacture of previously approved Covid-19 vaccines. The drug company did not specify which governments or other companies were involved in these discussions.
Pinterest (PINS) – Pinterest was approached by Microsoft (MSFT) about a possible takeover in recent months, according to respondents who spoke to the Financial Times. However, the report added that negotiations to buy out the image sharing company are currently inactive.