Check out the companies that make news before the bell:
PepsiCo (PEP): The beverage and snack giant surpassed estimates by a penny, with adjusted quarterly earnings of $ 1.47 per share, and revenue also exceeded estimates. The company said it expects to see organic revenue and adjusted profit growth this year, and also announced a 5% dividend increase.
Generac (GNRC) – Generac shares rose 3% in pre-market trading after the manufacturer of safety generators exceeded estimates for the top and bottom lines of its last quarter and said it expected a net growth of sales of 25 to 30 percent this year.
Restaurant Brands (QSR): The parent company of Popeyes, Burger King and Tim Hortons lost estimates by 12 cents with an adjusted quarterly profit 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): Mattress maker shares rose 12% ahead of the market after beating forecasts by 15 cents with an adjusted quarterly profit of 67 cents per share. Revenue also exceeded estimates and Tempur Sealy said it expected sales growth in 2021 from 15% to 20%.
LabCorp (LH): The medical-lab operator reported adjusted quarterly earnings of $ 10.56 per share, well above the agreed-upon estimate of $ 8.11, and revenue also exceeded forecasts. Its results were bolstered by Covid-19 testing and shares rose 3.6% ahead of the market.
Molson Coors (TAP): Brewery shares fell 4.5% ahead of the market as they reported adjusted quarterly earnings of 40 cents per share, well below the consensus estimate of 77 cents. Its results were affected by Covid-19’s ongoing restrictions on restaurants and bars.
Kraft Heinz (KHC) – Kraft Heinz shares rose 1.7% ahead of the market as they exceeded estimates for the top and bottom lines for their last quarter and also announced the sale of their business. Snack Planters in Hormel (HRL) for $ 3.35 million cash.
Uber Technologies (UBER) – Uber reported a quarterly loss of 54 cents per share, 2 cents less than expected, with slightly lower-than-expected revenue. Uber’s results were helped by an expansion of its food delivery business and by reduced costs. Uber shares fell 3.8% ahead of the market.
Bumble (BMBL) – Bumble makes its Wall Street debut today after setting the price of its initial public offering at $ 43 per share, above the already projected range of $ 37 to $ 39 per share. The dating service raised $ 2.2 billion on the IPO, giving it an overall value of more than $ 7 billion.
Sonos (SONO) – Sonos shares jumped 17% in pre-market trading, after the high-end smart speaker maker exceeded estimates for the top and bottom lines in its last quarter. Sonos was favored by stronger margins, as no promotions were made during the quarter. It also increased its year-round revenue orientation.
iRobot (IRBT): iRobot earned 84 cents per share adjusted during the fourth quarter, well above the agreed-upon estimate of 84 cents, with revenue also comfortably surpassing Wall Street forecasts. The manufacturer of the Roomba robotic vacuum cleaner also provided strong guidance on year-round revenue and profits. Shares rose 7.3% in pre-market trading.
Zillow Group (ZG): Zillow surpassed estimates by 14 cents with a quarterly adjusted profit of 41 cents per share, with real estate website operator also surpassing revenue. He also gave an optimistic revenue orientation and announced the acquisition of the online home viewing and viewing platform ShowingTime.com for $ 500 million in cash. Zillow shares rose 12% in pre-market trading.
Zynga (ZNGA) – Zynga CEO Frank Gibeau told Barron’s that the mobile game developer is open to an takeover bid, though he doesn’t want to actively sell the company. Zynga also reported a 61% jump in the key metric of net reserves during its last quarter, more than analysts had predicted.
XPO Logistics (XPO): XPO earned a tight $ 1.19 per share during the fourth quarter, well above the consensus estimate of 67 cents. The logistics company also recorded revenue above forecasts and gave strong guidance on year-round profits. XPO benefits from a pandemic-induced acceleration in shipping activity due to an explosion in online shopping.
Merck (MRK) – Merck is in talks with governments and other drug manufacturers to help produce already approved Covid-19 vaccines. The pharmacist did not specify which governments or other companies participated in these conversations.
Pinterest (PINS) – Microsoft (MSFT) contacted Pinterest about a possible takeover in recent months, according to brief reports on the subject that spoke to the Financial Times. However, the report added that negotiations on the purchase of the image-sharing company were not currently active.