Take a look at some of the biggest drivers in the pre-market:
Walt Disney (DIS) – Disney reported a quarterly profit of 32 cents per share, surprising analysts who expected a loss of 41 cents per share. Disney has seen an unexpected drop in attendance at theme parks and box office results due to Covid, but the success of its Disney + streaming service continues. Disney + now has 94.9 million subscribers, after adding more than 21 million during the quarter. Disney shares were up 1.4% in pre-market trading from 7:30 am ET.
Newell Brands (NWL) – The company behind consumer brands like Rubbermaid, Sharpie and Sunbeam reported quarterly earnings of 56 cents per share, exceeding estimates by 8 cents per share. Revenue was also above estimates. Newell predicted full-year earnings of $ 1.55 to $ 1.65 per share, compared to a consensus estimate of $ 1.68 per share, amid the smoothness in its writing business that is reducing strong performance in areas such as appliances and kitchen utensils. The stock fell 2.5% in the pre-market share.
Coherent (COHR) – Electronic component maker II-VI (IIVI) is planning a $ 6.5 billion bid for the laser maker, according to people familiar with the matter who spoke to The Wall Street Journal. The offer is worth $ 260 per share in cash and shares, exceeding the $ 226 per share deal that Coherent already has with Lumentum Holdings (LITE), as well as a $ 240 per share offer from MKS Instruments (MKSI). Coherent rose 16.4% in the pre-market, while II-VI fell 4.3%.
Moody’s (MCO) – Higher expenses caused the credit rating agency to lose estimates at 6 cents per share, with quarterly earnings of $ 1.91 per share. Revenue exceeded Wall Street forecasts, however, its projected 2021 year-round profit range is well above analysts’ forecasts. Moody’s also increased its quarterly dividend from 56 cents per share to 62 cents per share.
Expedia (EXPE) – Expedia fell 1.6% before the market after reporting that it lost $ 2.64 per share in its last quarter, greater than the $ 1.97 loss per share analysts had predicted. The online travel services company’s revenue was below forecast, amid a 67% drop in bookings due to the resurgence of cases and blockades from Covid-19.
Affirming Holdings (AFRM) – Affirming fell 7.6% in the premarket after reporting a loss of 45 cents per share on its first results since going public on January 13. That was less than 81 cents for Wall Street’s anticipated loss. The loan provider buy now and pay later also saw revenue beat forecast. Affirm the forecast for weaker-than-expected sales volume for the current quarter, however, as the pandemic-induced explosion in online shopping subsides.
SurveyMonkey (SVMK) – SurveyMonkey fell 10.8% in the premarket, after the online survey company provided a weaker-than-expected guidance for the current quarter. SurveyMonkey reported earnings of 3 cents per share in the last quarter, compared to expectations for a balanced quarter.
Marathon Oil (MRO) – Marathon has laid off about 100 American workers, or about 5% of its workforce, according to a company official who spoke to Reuters. Marathon said its move is part of its ongoing effort to optimize its cost structure.
AstraZeneca (AZN) – AstraZeneca said it hopes to double the monthly production of the Covid-19 vaccine by April, after correcting problems with its manufacture. This would raise the monthly production to 200 million doses.
Bausch Health (BHC) – Bausch Health jumped 6.3% ahead of the market after news that billionaire investor Carl Icahn acquired a 7.8% stake, according to a document from the Securities and Exchange Commission. Icahn plans to make suggestions about the pharmaceutical company’s strategies and possibly seek representation on the board.
Datadog (DDOG) – Datadog reported better-than-expected quarterly earnings and revenues, but the cloud monitoring service provider is seeing its stocks drop 4.7% in the premarket after it issued a weaker-than-expected outlook .
VeriSign (VRSN) – VeriSign’s shares rose 5.1% in the pre-market after the domain name registrar reported better-than-expected quarterly earnings, with revenue corresponding to Wall Street forecasts. VeriSign also added $ 747 million to its share buyback program.