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Find out which companies are making the headlines before the bell:
PepsiCo (PEP) – The beverage and snack giant beat estimates by a dime with adjusted quarterly profit of $ 1.47 per share, and revenue was also above estimates. The company said it expects to see organic revenue and adjusted earnings growth this year, and also announced a 5% dividend increase.
Generac (GNRC) – Generac shares rose 3% pre-market after the standby generator maker broke upper and lower earnings estimates for its final quarter, and said it expects growth net sales of 25-30% this year.
Restaurant Brands (QSR) – The parent company of Popeyes, Burger King and Tim Hortons missed estimates by 12 cents with adjusted quarterly earnings of 53 cents per share, while revenues were slightly higher than expected. Shares fell about 2% before market launch as comparable restaurant sales fell more than expected.
Tempur Sealy (TPX) – Shares of the mattress maker jumped 12% pre-market after beating expectations by 15 cents with adjusted quarterly profit of 67 cents a share. Revenue also exceeded estimates, and Tempur Sealy said it expects 2021 sales growth of 15% to 20%.
LabCorp (LH) – The medical lab operator reported adjusted quarterly profit of $ 10.56 per share, well above the consensus estimate of $ 8.11, and revenue was also higher than expected. Its results were bolstered by testing for Covid-19 and shares rose 3.6% before it went to market.
Molson Coors (TAP) – Shares of the beer brewer were down 4.5% pre-market as it posted adjusted quarterly earnings of 40 cents per share, well below the consensus estimate of 77 cents . Its results were affected by current Covid-19 restrictions on restaurants and bars.
Kraft Heinz (KHC) – Shares of Kraft Heinz rose 1.7% pre-market, beating upper and lower earnings estimates for its latest quarter, and also announced the sale of its business of Planters snacks at Hormel (HRL) for $ 3.35 billion in cash.
Uber Technologies (UBER) – Uber reported a quarterly loss of 54 cents per share, 2 cents lower than expected, with earnings slightly below estimates. Uber’s results were helped by an expansion of its food delivery business as well as cost reductions. Uber shares were down 3.8% pre-market.
Bumble (BMBL) – Bumble debuts on Wall Street today after valuing its initial public offering at $ 43 per share, above the already increased range expected from $ 37 to $ 39 per share. The dating service raised $ 2.2 billion during the IPO, giving it an aggregate value of over $ 7 billion.
Sonos (SONO) – Sonos shares jumped 17% in pre-trade, after the high-end smart speaker maker beat estimates on both the high and low in its most recent quarter. Sonos benefited from stronger margins as no promotions took place during the quarter. It also raised its revenue forecast for the full year.
iRobot (IRBT) – iRobot gained 84 adjusted cents per share for the fourth quarter, well above the consensus estimate of 84 cents, with earnings also comfortably exceeding Wall Street expectations. Robot vacuum maker Roomba also gave strong full-year revenue and profit forecasts. Shares rose 7.3% pre-trade.
Zillow Group (ZG) – Zillow broke estimates by 14 cents with adjusted quarterly profit of 41 cents per share, with the real estate website operator also recording a revenue beating. He also gave an optimistic revenue forecast and announced the acquisition of the online home viewing planning platform ShowsTime.com for $ 500 million in cash. Zillow shares rose 12% pre-trade.
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 seeking to sell the company. Zynga also reported a 61% jump in the key measure of net bookings in its most recent quarter, more than analysts had expected.
XPO Logistics (XPO) – XPO gained $ 1.19 per adjusted share for the fourth quarter, well above the consensus estimate of 67 cents. The logistics company also posted higher than expected revenue and gave strong full year earnings guidance. XPO is benefiting from a pandemic-induced acceleration in delivery activity due to an explosion in online shopping.
Merck (MRK) – Merck is in talks with governments and other drugmakers to help produce already approved Covid-19 vaccines. The drugmaker did not specify which governments or other companies were involved in the talks.
Pinterest (PINS) – Pinterest has been approached by Microsoft (MSFT) about a possible takeover in recent months, according to people brief on the subject who spoke to the Financial Times. However, the report added that negotiations on a takeover of the image-sharing company were not currently underway.
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