Take a look at the businesses making headlines earlier than the bell:
General Motors (GM) – Normal Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter revenue of $1.97 per share, although income did high Wall Road forecasts. GM did increase its forecast for the rest of the yr, based mostly on sturdy demand and pricing. GM initially fell 3% within the premarket however then bounced again to recuperate most of that loss.
CVS Health (CVS) – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with income beating forecasts as nicely. The drug retailer and pharmacy advantages firm additionally noticed same-store gross sales rise a greater than anticipated 12.3%. Individually, CVS additionally introduced it was elevating its minimal wage for workers to $15 per hour.
Kraft Heinz (KHC) – Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, whereas the meals producer’s income additionally exceeded estimates. Demand continued to be sturdy in the course of the quarter for the corporate’s snacks and packaged meals.
Tupperware (TUP) – Tupperware shares jumped 2.5% within the premarket, after beating on the highest and backside traces for the second quarter. The maker of family storage merchandise earned an adjusted 95 cents per share, nicely above the 57 cent consensus estimate.
Robinhood (HOOD) – The buying and selling platform’s inventory soared 13.1% in premarket buying and selling, on high of a 24.2% achieve in Tuesday buying and selling, when it rose above its $38 per share IPO value for the primary time since going public final Thursday. It was additionally amongst yesterday’s most closely traded shares.
Activision Blizzard (ATVI) – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s income was barely above Wall Road forecasts. It additionally gave an upbeat forecast, anticipating continued sturdy demand for in style franchises like “Sweet Crush” and “Name of Obligation”. Shares rallied 5.6% in premarket buying and selling.
Amgen (AMGN) – Amgen earned an adjusted $4.38 per share for its newest quarter, in contrast with a consensus estimate of $4.09. The biotech big’s income topped analyst estimates as nicely, though it stated visits and procedures stay under pre-pandemic ranges. Amgen additionally stated it’s in a dispute with the IRS, preventing a declare that it owes $3.6 billion in again taxes.
Lyft (LYFT) – Lyft reported an adjusted quarterly lack of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected income. Lyft noticed sturdy ride-hailing demand and did attain profitability as measured by earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA).
Match Group (MTCH) – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, though the operator of Tinder and different relationship companies did see income exceed forecasts. Income development for Tinder is accelerating as vaccination charges rise, however Match stated restoration is lagging in some vital abroad markets. Shares fell 4% in premarket buying and selling.
Caesars Entertainment (CZR) – Caesars earned 34 cents per share for its newest quarter, stunning analysts who had anticipated a lack of 18 cents per share. The on line casino operator’s income exceeded estimates as nicely, due to a powerful rebound within the Las Vegas market. Caesars added 2% in premarket motion.
Affirm Holdings (AFRM) – Affirm added one other 2.4% within the premarket, after leaping 3% yesterday. The cost service’s shares are getting a lift from a Bloomberg report that it’ll accomplice with Apple (AAPL) to supply “purchase now, pay later” companies for Canadian purchases of Apple units.
Avis Budget (CAR) – Avis Price range rose 1.9% in premarket buying and selling after reporting what it referred to as the most effective quarter in its historical past, with surging demand and better rental costs resulting in a tripling in gross sales. Adjusted earnings per share got here to $5.90, in comparison with a consensus estimate of $1.21.
Live Nation (LYV) – Reside Nation stated gross sales for its newest quarter surged practically eight-fold, as dwell occasions returned amid a rise in vaccinations. The dwell occasion promoter stated live shows and different occasions have been promoting out shortly, and at ticket costs that have been 10% above pre-pandemic ranges. Reside Nation gained 2.3% within the premarket.