See which companies are making the headlines even before the bell rings.

Eli Lilly (LLY) – The drugmaker beat estimates by 3 cents with adjusted quarterly earnings of $2.49 per share, while revenue beat forecasts as well. Sales of Trulicity, a drug that treats diabetes and Covid-19 therapy were both a major factor in the improvement to results. The stock fell 1.1% on the premarket.

Honeywell (HON) – Honeywell fell 3.4% in premarket trading after quarterly revenue missed estimates due to supply chain issues and other factors. Honeywell achieved an adjusted quarterly profit per share of $2.09, beating estimates by just a penny.

Biogen (BIIB) – Biogen fell 2.8% in premarket action after the drugmaker issued a lower than expected 2022 adjusted earnings forecast. Biogen anticipates that sales of Alzheimer’s drug Aduhelm will be limited due to the move by the government to restrict Medicare coverage. Biogen posted a better than expected profit and revenue in the fourth quarter.

Merck (MRK) – Merck earned an adjusted $1.80 per share for the fourth quarter, beating the $1.53 consensus estimate. Wall Street estimates were also higher than actuals, as Covid-19’s molnupiravir treatment drove sales higher. Merck predicted 2022 adjusted earnings of $7.12 – $7.27 per Share, which is lower than the consensus estimate at $7.29.

Cardinal Health (CAH) – The pharmaceutical distributor’s stock fell 2.1% in the premarket after it cut its full-year forecast due to inflation pressures and supply chain constraints. Cardinal Health beat expectations by 4 cents in its most recent quarter and earned $1.27 an share.

Meta Platforms (FB) – Meta Platforms plummeted 22.1% in premarket trading after missing bottom-line estimates for only the third time in the Facebook parent’s nearly ten-year history as a public company. The company also offered a cautious outlook, noting factors like a decrease in user engagement as well as inflation that have a negative impact on advertisers’ spending.

T-Mobile US (TMUS) – T-Mobile earned 34 cents per share for its latest quarter, more than doubling the 15-cent consensus estimate, though the mobile service provider’s revenue fell short of analyst forecasts. T-Mobile issued a positive forecast and shares soared 7.7% at the premarket.

Spotify (SPOT) – Spotify shares tumbled 9.6% in the premarket after the audio service issued a weaker-than-expected subscriber forecast. Spotify also reported a narrower-than-expected loss for its latest quarter and saw its revenue exceed estimates. Even amid controversy around its Joe Rogan podcast, Spotify saw an increase in advertising revenue.

Align Technology (ALGN) – Align shares fell 2.6% in premarket trading after the maker of Invisalign dental braces said 2022 revenue would rise by 20% to 30% compared with the prior year’s growth of 60%. Align’s latest quarter saw a rise in volume for aligners, which beat both the top-line and bottom line estimates.

McKesson (MCK) – McKesson rallied 4.5% in the premarket after the pharmaceutical distributor reported better-than-expected top and bottom-line results. McKesson’s adjusted share price was $6.15, a difference of 5.42 according to consensus. This is due to the strong Covid-19 vaccine distribution company.