Take a look at some of the biggest movers in the premarket:
Coca-Cola (KO) – Coca-Cola reported quarterly earnings of 47 cents per share, 5 cents a share above estimates. The beverage giant's revenue essentially came in line with Wall Street forecasts. The company saw a year-over-year decline in revenue, income and case volume, but noted sequential improvements amid a challenging environment due to the pandemic. The shares rose 1.9% in premarket trading as of 7:46 a.m. ET.
Under Armour (UAA) – The athletic apparel maker earned 12 cents per share, compared to analysts' forecasts of a 7 cents per share loss. Revenue also beat estimates, amid an online sales surge. The stock gained 5% in premarket trading as of 7:46 a.m. ET.
General Motors (GM) – The automaker beat estimates by 29 cents a share, with quarterly profit of $1.93 per share. Revenue came in above estimates as well. GM characterized the quarter as a strong one despite production interruptions caused by the pandemic. The company also issued a lower-than-expected full-year outlook, however, due to the ongoing worldwide shortage of semiconductors. The shares were volatile in premarket trading.
Bunge (BG) – The grain processing company reported quarterly profit of $3.05 per share, well above the consensus estimate of $1.82 a share. Revenue also topped forecasts, boosted by strength in Bunge's agribusiness segment. The company issued an upbeat full-year forecast. The shares gained 3% in premarket trading as of 7:46 a.m. ET.
Twitter (TWTR) – Twitter shares are surging in premarket trading, after the company reported quarterly earnings of 38 cents per share, 7 cents a share above estimates. Revenue was also above forecasts, although Twitter's user growth rate of 27% missed analyst estimates and it warned that growth would slow in upcoming quarters. The stock jumped 7% in premarket trading as of 7:46 a.m. ET.
Lyft (LYFT) – Lyft stock is up more than 10% premarket trading, with the ride-sharing service posting a smaller-than-expected loss. Lyft reported a quarterly loss of 58 cents per share, 14 cents a share smaller than anticipated. Revenue was above estimates. The company also said it could become profitable by the third quarter of this year, three months sooner than it previously projected.
Cisco Systems (CSCO) – Cisco beat estimates by 3 cents a share, with quarterly earnings of 79 cents per share. The networking equipment maker's revenue slightly above forecasts. Its shares are under pressure as revenue declined for the fifth straight quarter on reduced spending by customers on network infrastructure products for offices. The stock fell 4% in premarket trading as of 7:46 a.m. ET.
Mattel (MAT) – Mattel reported quarterly profit of 40 cents per share, 17 cents a share above estimates. The toy maker's revenue also topped Wall Street projections, propelled by strong holiday season sales of toys like Barbie dolls and Hot Wheels cars. The stock gained 2% in premarket trading as of 7:46 a.m. ET.
Yelp (YELP) – Yelp shares are gaining ground after the restaurant and local services review site company posted quarterly profit of 27 cents per share, compared to consensus forecasts of a breakeven quarter. Revenue was also above forecasts, and Yelp is projecting that it will return to year-over-year revenue growth for 2021.
Akamai Technologies (AKAM) – Akamai posted better-than-expected profit and revenue for its latest quarter, but the technology security company is seeing its stock fall in premarket trading amid a rise in operating expenses. The stock fell 8% in premarket trading as of 7:46 a.m. ET.
Toyota Motor (TM) – The automaker raised its full-year earnings forecast by 54%, noting a faster-than-expected rebound from the pandemic and adding that it has not had to reduce production significantly despite a worldwide shortage of computer chips.
Eli Lilly (LLY) – The drugmaker received emergency use authorization from the Food and Drug Administration for its combination antibody therapy used to treat Covid-19 patients. Data from a late-stage trial showed that the treatment cut the risk of hospitalization and death by 70%.
Match Group (MTCH) – Match Group shares are on the rise after the dating service operator announced it had bought South Korean social media company Hyperconnect for $1.73 billion. Hyperconnect offers apps that allow users to connect through audio and video chats. The shares gained 3% in premarket trading as of 7:46 a.m. ET.
Pacific Biosciences (PACB) – Pacific Biosciences is seeing its shares jump in the premarket following news that Japan's SoftBank is investing $900 million in the U.S.-based gene sequencing company. The stock surged 22% in premarket trading as of 7:46 a.m. ET.
Enphase Energy (ENPH) – Enphase reported better-than-expected profit and revenue, with the maker of solar inverters and other energy-related products giving an upbeat current-quarter forecast as well. The stock gained 6% in premarket trading as of 7:46 a.m. ET.
Source: cnbc.com
