Regeneron, Planet Fitness, ViacomCBS and more
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Take a look at the top companies that made headlines long before the bell rang.
Regeneron Pharmaceuticals (REGN) – The drug maker’s shares rallied 2.7% in the premarket after it reported a significant beat on both the top and bottom lines for its latest quarter. Regeneron’s adjusted earnings per share were $15.37, which is well over the consensus $10.10 estimate. This was due to strong sales of Covid-19 and other treatment products.
Planet Fitness (PLNT) – The fitness center operator’s stock surged 4.7% in premarket action after beating on the top and bottom lines and raising its full-year revenue forecast. Planet Fitness posted an adjusted 25c per share in its most recent quarter. This was 7 cents higher than estimates.
ViacomCBS (VIAC) – ViacomCBS rose 1.2% in premarket trading after its quarterly earnings matched estimates and revenue came in better than expected. The company’s TV and streaming businesses gave the results a boost.
Moderna (MRNA) – Moderna tumbled 12.1% in premarket action, following quarterly shortfalls in both earnings and revenue as well as a cut in the drug maker’s full-year earnings outlook. Moderna’s latest quarter saw it earn $7.70 per share compared to the consensus $9.05 estimate.
Wayfair (W) – The online home goods seller slid 4.4% in the premarket after it reported an unexpected quarterly profit but saw revenue fall below analyst forecasts. Wayfair said that consumers have begun to shift to brick-and mortar stores after the pandemic. It may take several quarters before its growth returns to normal.
Booking Holdings (BKNG) – Booking Holdings rallied 4.6% in the premarket after the travel company reported better-than-expected profit and revenue for its latest quarter. Priceline, the parent of Priceline, earned an adjusted $37.70 per stock, which is lower than the $32.90 consensus estimate. So far, investors are not reacting to Priceline’s warnings about Covid-19 revival in Europe.
Qualcomm (QCOM) – Qualcomm beat estimates by 29 cents with adjusted quarterly earnings of $2.55 per share, and the chip maker’s revenue also beat forecasts. Qualcomm forecasts strong growth driven by demand for 5G smartphones technology. Premarket trading saw shares rise 8.3%.
Electronic Arts (EA) – Electronic Arts reported an adjusted quarterly profit of $1.49 per share, compared with a consensus estimate of $1.17. EA also beat its own top line. EA raised its full year outlook due to strength in sports-themed games. Electronic Arts increased 2.9% in premarket.
Take-Two Interactive (TTWO) – Take-Two had a quarter that mirrored rival Electronic Arts, beating on both the top and bottom lines, and raising its outlook. Take-Two beat the consensus estimate by $1.34 and reported adjusted earnings at $1.63 per share. Its stock gained 1.1% premarket.
Roku (ROKU) – Roku shares slid 7.9% in premarket trading despite an earnings beat. While the maker of video-streaming devices earned 48c per share in its last quarter, it was well ahead of the 6-cent consensus estimate. However, the company reported a lower-than expected revenue forecast for the holiday period.
Etsy (ETSY) – The online crafts marketplace issued weaker-than-expected current-quarter revenue guidance although it did beat forecasts for its most recent quarter, coming in 8 cents above estimates with earnings of 62 cents per share.
MGM Resorts (MGM) – MGM rallied 4.3% in the premarket after announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. MGM claimed that there has not been a sales agreement, though it didn’t reveal any names.
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