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Find out which companies are making the headlines before the bell:
Comcast (CMCSA) – Comcast rose 1.9% in pre-market after reporting adjusted quarterly earnings of 84 cents per share, beating the consensus estimate of 67 cents. Parent company NBCUniversal also posted better-than-expected revenues, helped by a rebound in ad sales and a reopening of theme parks.
Merck (MRK) – The drugmaker matched estimates with adjusted quarterly earnings of $ 1.31 per share, with revenue exceeding Street’s forecast. Sales of the cancer drug Keytruda jumped 23%, in line with expectations. Merck fell 1.8% in pre-market trading.
Tempur Sealy (TPX) – The mattress maker gained 79 adjusted cents per share for its most recent quarter, 22 cents above estimates, with revenue expectations also surpassing. Tempur Sealy also raised its outlook for the full year, and the stock jumped 4.9% in pre-market.
Yum Brands (YUM) – KFC’s parent company Taco Bell and Pizza Hut hit 20 cents ahead of estimate with adjusted quarterly earnings of 1.16 per share, and revenue also exceeding analysts’ expectations. Results were driven by restaurant reopens as well as continued strong demand for online orders. Yum grew 2.3% in pre-market trading.
Molson Coors (TAP) – Molson Coors added 1.8% pre-market after its adjusted quarterly earnings of $ 1.58 per share exceeded the consensus estimate of $ 1.34. The brewer’s earnings were also higher than Wall Street forecasts.
Northrup Grumman (NOC) – The defense contractor reported adjusted quarterly earnings of $ 6.42 per share, beating the consensus estimate of $ 5.84, with revenue also exceeding estimates. The company was aided by the continued strength of its satellite and missile manufacturing units, and the share rose 1.1% in pre-market trading.
Facebook (FB) – Facebook shares fell 3.7% in pre-market trading after the company said revenue growth would slow in the second half of the year as a shift in Apple’s privacy policies (AAPL) would interfere with Facebook’s ability to target ads. For the second quarter, Facebook reported earnings of $ 3.61 per share, up from a consensus estimate of $ 3.03, with revenue also exceeding Wall Street forecasts.
Ford (F) – Ford surprised analysts with adjusted quarterly earnings of 13 cents per share. The automaker was due to report a loss of 3 cents per share in the second quarter, largely due to a shortage of chips in crimping production. However, Ford said he expected the situation to improve in the second half of the year and raised his outlook for the full year. Ford jumped 4% in pre-market.
PayPal (PYPL) – PayPal topped estimates by 3 cents with adjusted quarterly earnings of $ 1.15 per share, as the payment service’s revenue was mostly in line with analysts’ projections. However, stocks have come under pressure after giving a lower-than-expected outlook as PayPal’s former parent company eBay (EBAY) continues to transition to its own payments platform. The title slipped 5.6% in pre-market.
Qualcomm (QCOM) – Qualcomm reported adjusted quarterly earnings of $ 1.92 per share, beating the consensus estimate of $ 1.68, with the chipmaker’s earnings also beating Street’s forecast. Qualcomm also gave optimistic forecasts as it expects supply chain disruptions to subside. Qualcomm added 3.2% in the pre-market.
Uber Technologies (UBER) – Uber fell 5.1% in pre-market trading after sources told CNBC that Japanese investment giant Softbank was selling part of its stake in Uber to cover losses related to its investment in another carpooling company, Didi Global (DIDI). Didi himself is in the news, denying a previous Wall Street Journal report that he was considering going private. Didi had increased by more than 30% in pre-marketing before this refusal, before reducing this still significant gain to 17.5%.
iRobot (IRBT) – Shares of iRobot plunged 11.5% in pre-market trading after reporting a second quarter loss and slashing its outlook for the full year. Robot vacuum maker Roomba said the global chip shortage will continue to hamper its ability to fulfill orders in the second half of the year.
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