Check out the companies making headlines before the bell:
PepsiCo (PEP) – The beverage and snack giant beat estimates by a cent with adjusted quarterly earnings of $ 1.47 per share, and sales were also above estimates. The company said it expects organic sales growth and adjusted earnings growth this year, and also announced a 5% dividend increase.
Generac (GNRC) – Generac shares were up 3% in pre-market trading after the backup generator maker beat top and bottom estimates for its last quarter, saying it saw net sales growth of 25 this year up to 30 percent.
Restaurant Brands (QSR) – The parent company of Popeyes, Burger King and Tim Hortons missed estimates by 12 cents with adjusted quarterly earnings of 53 cents per share, while sales were slightly above forecasts. Shares fell about 2% pre-market as comparable restaurant sales fell more than expected.
Tempur Sealy (TPX) – Shares of the mattress maker were up 12% pre-market after beating forecasts by 15 cents with an adjusted quarterly gain of 67 cents a share. Sales also exceeded estimates and Tempur Sealy said it expected sales growth of 15% to 20% by 2021.
LabCorp (LH) – The medical lab operator reported quarterly adjusted earnings of $ 10.56 per share, well above the consensus estimate of $ 8.11, and revenues were also higher than forecast. The results were bolstered by Covid-19 testing and shares were up 3.6% ahead of the market.
Molson Coors (TAP) – Stocks of the brewer fell 4.5% pre-market as it reported an adjusted quarterly profit of 40 cents a share, well below the consensus estimate of 77 cents. The results were hurt by the ongoing Covid-19 restrictions on restaurants and bars.
Kraft Heinz (KHC) – Shares of Kraft Heinz were up 1.7% ahead of the market as it exceeded top and bottom line estimates for the last quarter, as well as announcing the sale of its Planters snacks to Hormel (HRL ) for $ 3.35 billion in cash.
Uber Technologies (UBER) – Uber reported a quarterly loss of 54 cents a share, 2 cents less than expected, with sales slightly below estimates. Uber’s results were supported by an expansion of its food delivery business and cost savings. Uber shares were down 3.8% before the market.
Bumble (BMBL) – Bumble is making its Wall Street debut today after pricing its initial public offering at $ 43 per share, above the already increased expected range of $ 37 to $ 39 per share. The dating service raised $ 2.2 billion on the IPO, making it a total value of more than $ 7 billion.
Sonos (SONO) – Sonos shares were up 17% in pre-market trading, after the maker of high-end smart speakers surpassed estimates on both the top and bottom lines in the last quarter. Sonos was helped by stronger margins as no promotions were held during the quarter. It also increased its full-year revenue forecast.
iRobot (IRBT) – iRobot earned an adjusted 84 cents per share for the fourth quarter, well above the consensus estimate of 84 cents, with sales well above Wall Street’s forecasts as well. The maker of the Roomba robotic vacuum cleaner also gave strong annual revenue and profit advice. Shares were up 7.3% during pre-market trading.
Zillow Group (ZG) – Zillow beat estimates by 14 cents with an adjusted quarterly profit of 41 cents per share, with the real estate website operator also scoring a revenue report. It also provided positive revenue guidance and announced the acquisition of online home viewing scheduling platform ShowTime.com for $ 500 million in cash. Zillow shares were up 12% in pre-market trading.
Zynga (ZNGA) – Zynga CEO Frank Gibeau told Barron’s that the mobile games developer is open to a takeover bid, although he is not actively looking to sell the company. Zynga also reported a 61% increase in the key measure of net posting in the last quarter, more than analysts expected.
XPO Logistics (XPO) – XPO earned an adjusted $ 1.19 per share for the fourth quarter, well above the consensus estimate of 67 cents. The logistics company also saw above-expectations sales and delivered strong full-year earnings expectations. XPO is benefiting from a pandemic acceleration in shipping activity as a result of an explosion in online shopping.
Merck (MRK) – Merck is in talks with both governments and other drug manufacturers to help produce already approved Covid-19 vaccines. The drug company did not specify which governments or other companies were involved in those talks.
Pinterest (PINS) – Pinterest was approached by Microsoft (MSFT) about a possible acquisition in recent months, according to people who briefly discussed this with the Financial Times. However, the report added that negotiations for a buyout of the image sharing company were not currently active.