Stocks making the biggest moves premarket: Coca-Cola, Twitter, Tapestry and others
Check out the companies making headlines before the bell:
Coca-Cola (KO) – Coca-Cola shares added 1.3% in the premarket after the company beat estimates by 4 cents with adjusted quarterly earnings of 45 cents per share. Revenue also beat Wall Street forecasts, and Coca-Cola projects commodity price inflation will be in the mid-single-digit percentage range for 2022.
Twitter (TWTR) – Twitter jumped 6.6% in premarket action, despite reporting top and bottom-line misses for its latest quarter. Twitter also announced a new $4 billion stock buyback program.
Tapestry (TPR) – The company behind the Coach and Kate Spade brands reported adjusted quarterly earnings of $1.33 per share, beating the $1.18 consensus estimate. Revenue beat estimates, and Tapestry also raised its full-year guidance on rising demand for its luxury goods.
Canada Goose (GOOS) – The maker of winter wear saw its shares tumble 10.3% in premarket trading after its earnings fell below analyst forecasts, although revenue topped predictions. Canada Goose cut its full-year forecast, as Covid-related restrictions impact demand for its parkas and footwear.
Walt Disney (DIS) – Disney surged 7.5% in premarket trading after beating Wall Street forecasts on the top and bottom lines for its latest quarter. Disney earned an adjusted $1.06 per share, well above the 63 cents per share consensus estimate, helped by growth in its Disney+ subscriber base and as record profit from its theme parks.
Uber Technologies (UBER) – Uber reported better-than-expected quarterly results as its ride-hailing business rebounded. The company continued to see strong demand in its Uber Eats food delivery business. Shares gained 5.8% in premarket trading.
Mattel (MAT) – Mattel came in 23 cents above estimates with adjusted quarterly earnings of 53 cents per share, and the toy maker’s revenue also beat analysts forecasts. Mattel’s results were driven in part by growth in its Barbie brand, and it also issued an upbeat 2022 outlook. The shares soared 12.6% in the premarket.
Sonos (SONO) – Sonos rallied 6.4% in premarket trading after topping analyst estimates on the top and bottom lines for the latest quarter. The maker of smart audio equipment said demand remains strong although it is still being impacted by supply chain issues.
Datadog (DDOG) – Datadog surged 14.5% in the premarket after the cybersecurity platform company reported better-than-expected profit and revenue for its latest quarter.
Twilio (TWLO) – Twilio rocketed 19.8% higher in premarket action after the communications software company reported a narrower-than-expected quarterly loss and revenue that was well above estimates. Twilio also issued an upbeat current-quarter revenue outlook.