Check out the companies that make 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 revenues were also above estimates. The company said it expects to have organic revenue and adjusted profit growth this year and also announced a 5% increase in dividends.
Generac (GNRC) – Generac shares rose 3% in pre-market trading after the manufacturer of backup generators exceeded estimates for the top and bottom lines for the last quarter and said it expected a net increase in sales of 25-30% this year.
Restaurant Brands (QSR) – Popeyes’ father, Burger King and Tim Hortons missed estimates by 12 cents, with adjusted quarterly earnings of 53 cents per share, while revenue was slightly above forecasts. Shares fell about 2% ahead of the market, as comparable restaurant sales fell more than expected.
Tempur Sealy (TPX) – The shares of the mattress manufacturer rose 12% ahead of the market, after exceeding forecasts by 15 cents, with adjusted quarterly earnings of 67 cents per share. Revenues also exceeded estimates, and Tempur Sealy said it expected 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 revenues were also above forecasts. Its results were stimulated by the testing of Covid-19, and the shares increased by 3.6% before the market.
Molson Coors (TAP) – The brewer’s shares fell 4.5% ahead of the market as it reported adjusted quarterly earnings of 40 cents per share, well below the consensus estimate of 77 cents. Its results have been affected by ongoing Covid-19 restrictions for restaurants and bars.
Kraft Heinz (KHC) – Kraft Heinz shares rose 1.7% ahead of the market as they exceeded estimates on the top and bottom lines for the 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 expected, with revenues slightly below estimates. Uber’s results have been helped by an expansion of its food delivery business, as well as cost reductions. Uber shares fell 3.8% ahead of the market.
Bumble (BMBL) – Bumble makes its Wall Street debut today after offering an initial public offering of $ 43 per share, over the already high range of $ 37-39 per share. The dating service raised $ 2.2 billion in IPOs, giving it a total value of more than $ 7 billion.
Sonos (SONO) – Sonos shares rose 17% in pre-market trading after the manufacturer of state-of-the-art smart speakers exceeded estimates for both top and bottom lines in the last quarter. Sonos was helped by stronger margins, as there were no promotions in that quarter. It has also raised its year-round revenue guidelines.
iRobot (IRBT) – iRobot earned an adjusted 84 cents per share for the fourth quarter, well above the consensus estimate of 84 cents, with revenues also comfortably exceeding Wall Street forecasts. The manufacturer of the Roomba robot vacuum cleaner also offered strong year-round revenue and profit guidance. Shares increased by 7.3% in pre-market trading.
Zillow Group (ZG) – Zillow exceeded estimates by 14 cents, with adjusted quarterly earnings of 41 cents per share, with the real estate site operator also recording a revenue pace. It also provided optimistic revenue guidance and announced the purchase of a $ 500 million online cash viewing-programming platform ShowTime.com. Zillow shares rose 12% in pre-market trading.
Zynga (ZNGA) – Zynga CEO Frank Gibeau told Barron that the mobile game developer is open to a takeover bid, although he is not actively seeking to sell the company. Zynga also reported a 61% increase in the key net booking metric in the last quarter, more than analysts had anticipated.
XPO Logistics (XPO) – XPO earned an adjusted $ 1.19 per share for the fourth quarter, well above the consensus estimate of 67 cents. The logistics company also recorded revenue above forecasts and provided strong revenue guidance throughout the 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 both governments and other drug manufacturers to help produce already approved Covid-19 vaccines. The pharmacist did not specify which governments or other companies were involved in these discussions.
Pinterest (PINS) – Pinterest has been approached by Microsoft (MSFT) about a possible takeover in recent months, according to brief information on the subject that spoke to the Financial Times. However, the report added that negotiations on the purchase of an image-sharing company were not currently active.