Check out the companies that are making headlines before the bell:
Walmart (WMT) – Walmart reported quarterly adjusted earnings of $ 1.39 per share, which includes a 7 percent impact of UK tax refunds. The consensus estimate was $ 1.50. Revenue exceeded forecasts, and comparable sales in the U.S., excluding fuel, increased 8.6% compared to FactSet’s 5.8% estimate. The retailer’s shares fell 5% before the market.
Hormel Foods (HRL) – The food producer’s stock rose 2.2% before the market, after earnings matched estimates of 41 cents per share and revenue exceeded Wall Street forecasts. Hormel also said that he is increasingly optimistic about year-on-year sales and profit growth.
Marriott (MAR) – Marriott bucked recent trends in hotel chains by beating Street estimates, earning an adjusted 12 cents per share in the last quarter compared to a consensus estimate of 11%. The revenue did not provide forecasts, as the company continues to be affected by the pandemic.
Waste Management (WM) – Waste Management’s shares rose 1% ahead of the market after the waste transportation company hit estimates by 4 cents with an adjusted quarterly earnings of $ 1.13 per share, with revenue exceeding estimates too . Waste Management is also increasing its dividend by 12 cents a year, to $ 2.30 a share.
Tilray (TLRY) – Tilray lost 2 adjusted cents per share in its last quarter, less than the 15% loss expected by Wall Street analysts, while the cannabis grower’s revenue was above estimates. The results come before Tilray’s planned merger with rival Aphria (APHA), which it expects to close in the second quarter. The stock rose 4% in pre-market share.
SunPower (SPWR) – SunPower has doubled the consensus estimates with adjusted quarterly earnings of 14 cents per share, although the company’s solar revenue has fallen short of forecasts. SunPower also issued a weaker-than-expected guidance for the current quarter, and its shares fell 7.1% in the pre-market.
Twilio (TWLO) – Twilio rose 9.5% in the premarket after reporting an adjusted profit of 4 cents per share in its last quarter, surprising analysts who expected the cloud computing platform provider to experience a loss of 8 cents per share. Revenue was also well above Street’s forecasts, with results aided by recent acquisitions and election-related deals, as well as what Twilio calls a “broad-based diversified force”.
Baidu (BIDU) – Baidu saw quarterly revenue rise above analysts’ forecasts, with search engine ad sales coming back and the company’s cloud services seeing increasing demand. Baidu’s shares fell 1.2% this morning.
Sleep Number (SNBR) – Sleep Number shares are up 12.7% in the pre-market after reporting quarterly earnings of $ 2.19 per share, exceeding the consensus estimate of $ 1.45 with retailer revenue of mattresses also exceeding estimates. Sleep Number also issued an optimistic guidance for the entire year.
Tesla (TSLA) – Tesla has cut prices for cheaper versions of its Model 3 and Model Y vehicles, although it has raised prices for more sophisticated variants. The shares fell 2% before the market.
Nutrien (NTR) – Nutrien reported better-than-expected gains in its last quarter, as the Canadian fertilizer manufacturer saw an increase in demand amid rising crop prices and farmers’ plans to plant more acres this year. The stock is up 3.8% in the pre-market.
Fastly (FSLY) – Fastly’s shares are under pressure, down 6.2% in the pre-market after the cloud platform provider reported better-than-expected earnings and revenue in its last quarter, but released a forecast below expected.
Tanger Factory Outlets (SKT) – The shopping center operator grew 3.1% after reporting an equilibrium quarter, compared to forecasts of 2 cents per share loss, while revenue also exceeded estimates. Tanger saw an increase in pedestrian traffic during the quarter, although lower occupancy rates continue to weigh on revenue.
Bloomin ‘Brands (BLMN) – The restaurant operator’s shares fell 4.1% in the pre-market after revenue fell below Street’s forecast for the last quarter. The company reported an equilibrium quarter on an adjusted basis, compared to forecasts of 2 cents a share.