Wendy’s, Krispy Kreme, Perrigo and more
See which companies are making the headlines even before the bell rings.
Wendy’s (WEN) –Wendy’s reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts. Higher labor costs are causing a decline in the shares, which dropped 3.4% during premarket trading.
Krispy Kreme (DNUT) – Krispy Kreme gained 1.6% in the premarket after beating top and bottom line estimates for its latest quarter. Sales per hub for this donut chain increased by 49.2% in international markets, and 19.4% in the U.S. and Canada.
Perrigo (PRGO) – Perrigo fell 4.1% in premarket trading after reporting a mixed quarter, with adjusted profit of 33 cents per share falling short of the 42 cent consensus estimate. After completing its acquisition of HRA Pharma, a consumer-health care company earlier in the month, Perrigo did not report lower than expected revenues and raised its fullyear outlook.
Roblox (RBLX) – Roblox posted a wider than expected loss for its latest quarter as well as sales that fell shy of Street forecasts. Also, the gaming platform firm said that losses will continue indefinitely as expenses increase and demand from pandemics fades. Roblox saw a 1.1% drop in premarket activity, paring a 10% earlier loss during off-hours.
Unity Software (U) – Unity Software plunged 23% in the premarket, after the video game software developer issued weaker than expected revenue guidance. The company’s quarterly losses were in line with expectations, however sales were below consensus.
Coinbase (COIN) – Coinbase slumped 14.4% in premarket trading after it reported an unexpected quarterly loss. According to consensus predictions, the cryptocurrency exchange operator suffered a loss of $1.98 per share in its most recent quarter. This is a contrast with consensus estimates that it would make 18 cents per share profits. Coinbase reported a decrease in its users due to the ongoing decline in crypto markets.
Occidental Petroleum (OXY) – Occidental Petroleum added 1.3% in premarket action following an earnings beat for its latest quarter, helped by surging oil prices. Occidental is the top gainer among S&P 500 stocks, having more than doubled this year.
Toyota (TM) – Toyota said its profit for the current fiscal year could take a 20% hit due to a jump in raw materials costs. According to the automaker, it will work with suppliers in order to find alternative materials or other methods to lower expenses. In premarket trading, shares fell by 2.2%.
RealReal (REAL) – RealReal rallied 9.3% in the premarket after the seller of secondhand luxury goods reported better than expected quarterly sales. Although it did not report an expected loss of more than anticipated, it stated that it is poised to profit from the inflationary trend in new luxury goods’ prices.
H&R Block (HRB) – H&R Block reported better than expected quarterly sales and profit, with the tax-preparation company also raising its forecast on upbeat tax season results. H&R Block shares jumped 3.3% in premarket trading.