Check out the companies making headlines before the bell:
New York Times (NYT) – The newspaper publisher’s shares jumped 3.9% in the premarket after it beat estimates by 3 cents with an adjusted quarterly profit of 23 cents per share. Revenue also beat estimates amid rising advertising and digital sales.
CVS Health (CVS) – The drug store operator and pharmacy benefits manager beat estimates by 19 cents with adjusted quarterly earnings of $1.97 per share and revenue topping Wall Street forecasts as well. Results got a boost from increased demand for Covid testing and vaccinations.
Humana (HUM) – The health insurer reported adjusted quarterly earnings of $4.83 per share, beating the consensus estimate of $4.66, while revenue beat Street forecasts on strength in Humana’s Medicare Advantage business.
Capri Holdings (CPRI) – The company behind the Michael Kors and Versace brands saw its stock surge 9.9% in premarket trading, after beating earnings and revenue estimates for its latest quarter. Capri earned an adjusted $1.53 per share, well above the consensus estimate of 95 cents, and also raised its full-year outlook.
Tupperware (TUP) – Tupperware plummeted 16.8% in the premarket, as sales for the food storage products company came in well below Wall Street forecasts. The company points to persistent negative impact from the pandemic, among other factors.
Norwegian Cruise Line (NCLH) – The cruise line operator’s stock slid 2.6% in the premarket after it reported a wider-than-expected loss and revenue that fell short of analyst estimates. Norwegian said it expects positive cash flow in the first quarter of 2022 and expects to be profitable in the second half of the year.
Bed Bath & Beyond (BBBY) – Bed Bath & Beyond rocketed 57.3% higher in premarket action after announcing an in-store partnership with Kroger (KR) and said its share buyback program was proceeding ahead of schedule. The buying spree was spurred by that positive news, combined with the fact that the housewares retailer’s stock is one of the most heavily shorted on Wall Street.
Mondelez International (MDLZ) – Mondelez beat estimates by a penny with adjusted quarterly earnings of 70 cents per share, with the snack maker’s revenue beating forecasts as well. The company also said it would raise prices on snacks like Oreo cookies as it tries to keep up with rising commodity and labor costs. Mondelez rose 1% in the premarket.
Zillow Group (ZG) – Zillow is exiting its home-flipping business, saying its algorithm designed to profitably buy and sell homes doesn’t work as intended. The real estate firm also announced an unexpected quarterly loss and lower than expected revenue for its latest quarter. Zillow shares tumbled 17.6% in premarket trading.
T-Mobile US (TMUS) – T-Mobile came in 2 cents ahead of estimates with quarterly earnings of 55 cents per share, although the mobile service provider’s revenue missed Street forecasts. T-Mobile added 673,000 subscribers during the quarter, beating analyst forecasts but short of the numbers achieved by rivals like AT&T (T). T-Mobile shares gained 3.2% in premarket action.
Lyft (LYFT) – Lyft shares surged 12.5% in premarket trading, after reporting earnings of an adjusted 5 cents per share for its latest quarter, compared to an expected loss of 3 cents per share. The ride-hailing service’s revenue also topped Wall Street forecasts, with Lyft benefitting from rising rider demand as well as higher prices.
Activision Blizzard (ATVI) – Activision Blizzard saw its shares tank 12.2% in the premarket after it announced a delay in the launch of two games as well as issuing a weaker-than-expected outlook for the holiday quarter. The videogame maker did beat bottom-line forecasts for its latest quarter, coming in 2 cents ahead of estimates with an adjusted quarterly profit of 72 cents per share.
Camping World (CWH) – The recreational vehicle retailer’s stock rallied 6.7% in the premarket after it reported quarterly earnings of $1.98 per share, well above the 55 cent consensus estimate, with revenue also well above Street forecasts.
Source: Finance - cnbc.com
