Check out the companies that are making headlines before the bell:
PepsiCo (PEP) – The beverage and snack giant exceeded estimates by a penny, with adjusted quarterly earnings of $ 1.47 per share, and revenue was also above estimates. The company said it expects to see organic revenue and adjusted profit growth this year, and also announced a 5% increase in dividends.
Generac (GNRC) – Generac’s shares rose 3% in the pre-market after the backup generator maker surpassed profit and profit estimates for its last quarter, and said it expects 25 to 30 net sales growth percent this year.
Restaurant Brands (QSR) – The parent company of Popeyes, Burger King and Tim Hortons lost estimates by 12 cents, with adjusted quarterly earnings of 53 cents per share, while revenue was slightly above forecasts. The shares fell about 2% before the market, as sales of comparable restaurants fell more than expected.
Tempur Sealy (TPX) – Mattress maker shares rose 12% before the market, after exceeding forecasts by 15 cents, with adjusted quarterly earnings of 67 cents per share. Revenue also exceeded estimates, and Tempur Sealy said it expects sales to grow in 2021 from 15% to 20%.
LabCorp (LH) – The medical lab operator reported adjusted quarterly earnings of $ 10.56 per share, well above the consensus estimate of $ 8.11, and revenue was also above forecasts. Its results were boosted by Covid-19 tests and the shares rose 3.6% before the market.
Molson Coors (TAP) – The brewery’s shares fell 4.5% before the market, as it reported adjusted quarterly earnings of 40 cents per share, well below the consensus estimate of 77 cents. Its results were hampered by Covid-19’s continued restrictions on restaurants and bars.
Kraft Heinz (KHC) – Kraft Heinz shares rose 1.7% in the pre-market, as it exceeded the upper and lower line estimates for its last quarter, and also announced the sale of its Planters snack business to Hormel (HRL) for $ 3.35 billion in cash.
Uber Technologies (UBER) – Uber reported a quarterly loss of 54 cents per share, 2 cents less than forecast, with revenue slightly below estimates. Uber’s results were helped by an expansion in its food delivery business, as well as cost reductions. Uber shares fell 3.8% before the market.
Bumble (BMBL) – Bumble makes its debut on Wall Street today, after pricing its initial public offering at $ 43 per share, above the expected high range of $ 37 to $ 39 per share. The dating service raised $ 2.2 billion at the IPO, totaling more than $ 7 billion.
Sonos (SONO) – Sonos shares jumped 17% in pre-market trading, after the state-of-the-art smart speaker manufacturer surpassed both top and bottom line estimates in its last quarter. Sonos was helped by stronger margins, as no promotions were made during the quarter. He also increased his revenue orientation for the entire year.
iRobot (IRBT) – iRobot earned 84 cents per share adjusted in the fourth quarter, well above the consensus estimate of 84 cents, with revenue also exceeding Wall Street forecasts. The manufacturer of the robotic vacuum cleaner Roomba also gave a strong revenue and profit orientation for the entire year. The shares rose 7.3% in the pre-market.
Zillow Group (ZG) – Zillow surpassed estimates by 14 cents, with adjusted quarterly earnings of 41 cents per share, with the real estate website operator also marking a revenue overshoot. He also gave an optimistic revenue orientation and announced the acquisition of the online home viewing programming platform ExibindoTime.com for $ 500 million in cash. Zillow’s shares rose 12% in the pre-market.
Zynga (ZNGA) – Zynga CEO Frank Gibeau told Barron’s that the mobile game developer is open to a takeover offer, although he is not actively looking to sell the company. Zynga also reported a 61% jump in the main metric for net reserves during its last quarter, more than analysts had predicted.
XPO Logistics (XPO) – XPO gained an adjustment of $ 1.19 per share in the fourth quarter, well above the consensus estimate of 67 percent. The logistics company also saw revenue above expectations and gave a strong earnings orientation for the entire 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 makers to help produce the Covid-19 vaccines already approved. The drugmaker did not specify which governments or other companies were involved in these negotiations.
Pinterest (PINS) – Pinterest was approached by Microsoft (MSFT) about a possible acquisition in the past few months, according to people who spoke to the Financial Times about the matter. However, the report added that negotiations over the purchase of the image sharing company were not currently active.