Take a look at some of the biggest pre-market drivers:
Deere (DE) – The heavy equipment maker earned $ 3.87 per share in the first fiscal quarter, compared with a consensus estimate of $ 2.14 per share. Revenue also outperformed forecasts, and Deere increased its prospect for full-year earnings amid improvements in the agricultural and construction sectors. Deere shares jumped 6.2% in the pre-market.
Roku (ROKU) – Roku’s shares rose 1.4% in the pre-market after reporting a quarterly profit of 49 cents per share, compared to the consensus predictions of 6 cents loss per share. The video streaming device manufacturer’s revenue also exceeded forecasts, amid a 58% increase, as consumers stayed at home during the pandemic seeking more video entertainment.
Uber Technologies (UBER) – The hitchhiking company lost a major case in the United Kingdom, where a Supreme Court judge upheld a ruling by an employment court that said Uber drivers were employed and not hired. Uber fell 1.9% in pre-market stocks.
Dropbox (DBX) – Dropbox cost 4 cents per share ahead of estimates, with quarterly earnings of 28 cents per share. The cloud storage company’s revenue was also above Wall Street forecasts. Dropbox had a higher than expected number of paid users during the quarter, as well as better-than-expected revenue per user. He also forecast full-year revenue below analysts’ estimates, however, and the shares fell 3.4% before the market.
Applied materials (AMAT) – Applied materials earned $ 1.39 per share in the fourth quarter, compared to a consensus estimate of $ 1.28 per share. Revenue was also above expectations. The manufacturer of semiconductor manufacturing equipment also gave an optimistic forecast for the current quarter, as chip makers are trying to accelerate production to address global shortages. Applied Materials jumped 5% in pre-market negotiations.
Novavax (NVAX) – The pharmaceutical company’s shares increased 10.6% in the pre-market after it struck a deal with the global vaccine alliance Gavi to supply 1.1 billion doses of its Covid-19 vaccine for an international effort to vaccination.
TripAdvisor (TRIP) – TripAdvisor reported a quarterly loss of 41 cents per share, greater than the 26 cents loss of stock that analysts had forecast. The revenue from the travel site operator exceeded estimates, and the company noted that pent-up travel demand and positive vaccine developments are expected to lead to better results this year. Its shares fell 2.4% in pre-market trading.
Pfizer (PFE) – The Covid-19 vaccine developed by Pfizer and BioNTech (BNTX) was 85% effective after just the first dose, according to a study with Israeli health workers published in the medical journal The Lancet. As with a competing vaccine from Moderna (MRNA), patients receive two doses of the Pfizer vaccine for maximum protection.
Royal Caribbean (RCL) – Royal Caribbean has said it will not be able to pay cash dividends and repurchase shares until the third quarter of 2022, due to changes in the cruise operator’s loan agreements. It suspended dividends and repurchases last year, when the pandemic disrupted cruise activity.
IBM (IBM) – IBM is considering a possible sale of its IBM Watson Health business, according to people familiar with the matter who spoke to The Wall Street Journal. Alternatives may include a sale to a private equity company or another healthcare company, or a merger of the unit with a special purpose acquisition company.
Texas Roadhouse (TXRH) – The restaurant chain earned 28 cents per share in the fourth quarter, down from 49 cents per stock consensus estimate. Revenue was also timid in relation to analysts’ forecasts. Texas Roadhouse said that weekly sales levels weakened during the latter part of the quarter, with the resurgence of Covid-19 forcing the closure of some locations. Texas Roadhouse shares fell 3.5% before the market.
Planet Fitness (PLNT) – The fitness operator’s quarterly profit fell 5 cents per share before the consensus, as it reported earnings of 17 cents per share. Revenue also fell short of estimates. Sales at the same location fell more than expected, and Planet Fitness did not provide a 2021 outlook due to uncertainty surrounding the Covid-19 pandemic. The shares fell 2.5% in pre-market trading.
Rackspace (RXT) – Rackspace beat estimates by 3 cents, with quarterly earnings of 26 cents per share. Revenue was also above expectations, however, the cloud service provider released a weaker-than-expected earnings forecast for the entire year. Its shares fell 9.7% in the pre-market share.