Restaurant Brands, Under Armour, Peloton and more
Check out the companies making headlines before the bell:
Restaurant Brands (QSR) – The parent of Burger King, Tim Hortons and Popeyes saw its stock rally 4% in premarket trading after the company reported better-than-expected quarterly results. Same-restaurant sales jumped 14%, well above the 8.3% rise predicted by analysts who were surveyed by FactSet.
Under Armour (UAA) – Under Armour jumped 4.2% in premarket action after the apparel maker reported better-than-expected earnings for its latest quarter, along with revenue that was roughly in line with Street forecasts. The rise comes despite Under Armour cutting its full-year forecast for the impact from a stronger U.S. dollar and higher costs.
Peloton (PTON) – The fitness equipment maker’s stock tumbled 18.1% in premarket trading after it reported a larger-than-expected quarterly loss and revenue that fell short of analyst predictions. Peloton also issued a weaker-than-expected holiday quarter forecast.
Moderna (MRNA) – The drug maker’s stock slumped 11.9% in premarket action after Moderna reported a quarterly profit of $2.53 per share, well below the consensus estimate of $3.29. The company also cut its annual forecast for Covid-19 vaccine sales.
Qualcomm (QCOM) – Qualcomm slumped 8.3% in the premarket after it gave a worse-than-expected revenue outlook as smartphone shipments slid. The chip maker also reported quarterly revenue and profit that were in line with Wall Street forecasts.
Roku (ROKU) – Roku shares tumbled 18.5% in off-hours trading after the maker of video streaming devices said it expected advertising revenue and device sales to fall in the current quarter. The forecast is weighing on shares despite Roku reporting better-than-expected revenue and a larger-than-expected number of active accounts.
Robinhood Markets (HOOD) – Robinhood rose 2.9% in premarket trading after the online brokerage reported a smaller-than-expected quarterly loss and revenue that topped analyst forecasts. Robinhood also lowered its operating expense forecast for the full year.
Booking Holdings (BKNG) – Booking Holdings rose by 5.1% in the premarket after the travel services company posted top and bottom line beats for its latest quarter. It also posted an upbeat outlook as travel demand remains strong.
Crown Holdings (CCK) – Investor Carl Icahn now holds a more than 8% stake in the beverage can maker, according to the Wall Street Journal, and is said to believe the company should buy back more stock and put non-core units up for sale. Crown Holdings rallied 5.5% in the premarket.
eBay (EBAY) – eBay surged 6.7% in premarket trading after the e-commerce company reported better-than-expected results for its latest quarter, boosted by sales of refurbished goods and luxury offerings.
Etsy (ETSY) – Etsy stock spiked 9.3% in the premarket after the online crafts marketplace reported a better-than-expected quarter, saying its business remained strong in a volatile economic environment.