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Find out which companies are making the headlines before the bell:
Procter & Gamble (PG) – The consumer products giant was up 1.1% in pre-release after beating estimates by 5 cents with quarterly profit of $ 1.13, while revenue also exceeded forecasts. P&G cautioned against continuing inflationary pressures as input costs rise. In addition, CEO David Taylor will step down in November after a six-year term, to be replaced by COO Jon Moeller. Taylor will become executive chairman.
Exxon Mobil (XOM) – Exxon Mobil gained $ 1.10 a share for the second quarter, 11 cents above estimates, while earnings also beat Wall Street’s forecast. Exxon benefited from an improved cost structure and better market conditions.
Chevron (CVX) – Chevron rose 1.9% in pre-market trading after beating estimates by 12 cents with adjusted quarterly earnings of $ 1.71 per share. Income also exceeded estimates as oil prices rose and market conditions improved.
Caterpillar (CAT) – Caterpillar is down 2% pre-market, despite better-than-expected earnings and revenues in the second quarter. Caterpillar beat estimates by 20 cents with adjusted quarterly earnings of $ 2.60 per share, aided by the recovery in the global economy.
Robinhood (HOOD) – Robinhood stock remains under scrutiny after slipping more than 8% in its first session on Wall Street. CEO Vlad Tenev told CNBC’s Jim Cramer that he doesn’t worry about daily market fluctuations and has a long-term view of the trading platform provider’s fortunes.
Capri Holdings (CPRI) – The company behind luxury brands Michael Kors and Versace earned an adjusted $ 1.42 per share for its most recent quarter, well above the consensus estimate of 80 cents. Revenue also exceeded expectations and Capri raised its annual outlook for the second time this year. The stock jumped 3.9% in pre-market.
Restaurant brands (QSR) – The parent company of Tim Hortons, Popeyes and Burger King reported adjusted quarterly earnings of 77 cents per share, 51 cents above estimates, and revenues also beat Wall Street expectations. The results were boosted by an increasing number of customers visiting restaurants as the pandemic receded.
Amazon (AMZN) – Amazon shares fell 6.6% pre-market after missing Wall Street earnings estimates for the first time since the third quarter of 2018. However, it reported quarterly profit of $ 15.12 per share, beating the consensus estimate. of $ 12.30.
Pinterest (PINS) – Pinterest stock was hammered 21.2% in pre-market exchanges after the image-sharing website operator reported a quarterly drop in the average number of monthly users. Pinterest had seen its usage increase during the pandemic as people stayed home and spent more time in front of their computers. Pinterest, however, topped analysts’ estimates in terms of profit and revenue for its most recent quarter.
T-Mobile US (TMUS) – T-Mobile reported quarterly earnings of 78 cents per share, 25 cents above Street’s forecast, while the mobile service provider also saw revenue exceed estimates. The higher demand for 5G devices and services has helped to increase the number of subscribers.
Gilead Sciences (GILD) – Gilead topped estimates by 14 cents with adjusted quarterly earnings of $ 1.87 per share, while the drugmaker’s earnings also exceeded estimates. However, sales of Gilead’s flagship anti-HIV drugs fell 2% in the quarter, and the stock lost 1.5% in pre-market trading.
Texas Roadhouse (TXRH) – Texas Roadhouse beat estimates by 9 cents with quarterly profit of $ 1.08 per share, while the restaurant chain’s earnings were also above Street’s forecast. However, Texas Roadhouse said it expects food prices to continue rising and its shares to fall 5.2% before marketing.
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