Economy

PepsiCo, Generac, Tempur Sealy and others

PepsiCo, Generac, Tempur Sealy and others

Check out the companies making headlines before the bell:

PepsiCo (PEP) – The beverage and snack giant beat estimates of a penny with adjusted quarterly earnings of $ 1.47 per share, and revenues were also above estimates. The company said it expects to see growth in organic revenue and adjusted earnings this year, and also announced a 5% increase in profits.

Generac (GNRC) – Shares of Generac rose 3% in pre-market trading after the backup generator manufacturer surpassed estimates in the fourth quarter, and said it expects net sales to grow by 25 to 30% this year.

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 a share, while revenue was slightly above expectations. Shares were down about 2% before entering the market, as sales of similar restaurants fell more than expected.

Tempur Sealy (TPX) – Mattress maker shares jumped 12% ahead of their market offering after beating expectations by 15 cents with a revised quarterly earnings of 67 cents a share. Revenue also exceeded estimates, and Tempur Sealy said it expects 2021 sales to grow from 15% to 20%.

Labcorp (LH) – The medical lab operator reported adjusted quarterly earnings of $ 10.56 per share, well above the consensus estimate of $ 8.11, and revenue was also higher than expectations. Its results were boosted by the Covid-19 test, and stocks rose 3.6% ahead of the market.

Molson Coors (TAP) – Al-Bireh’s shares were down 4.5% prior to market launch, as it reported a revised quarterly earnings of 40 cents per share, well below the consensus estimate of 77%. Its results are affected by ongoing Covid-19 restrictions on restaurants and bars.

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Kraft Heinz (KHC) – Kraft Heinz shares rose 1.7% ahead of the market launch, beating estimates for the first and last quarters in the fourth quarter, and also announcing the sale of its planters snack business to Hormel (HRL) for $ 3.35 billion in cash.

Uber technologies (UBER) – Uber posted a quarterly loss of 54 cents per share, 2 cents less than expected, with revenues slightly below estimates. Uber’s results helped expand the food delivery business while cutting costs. Uber shares fell 3.8% before entering the market.

Bumble (BMBL) – Bumble is making its Wall Street debut today after pricing its initial public offering at $ 43 a share, above the already-elevated expected range of $ 37 to $ 39 a share. The dating service raised $ 2.2 billion in its IPO, giving it a total value of over $ 7 billion.

Sonos (SONO) – Sonos shares jumped 17% in pre-market trading, after the maker of high-end smart speakerphones beat estimates in both upper and lower earnings in the fourth quarter. Sonos benefited through stronger margins as no promotions took place during the quarter. It also raised revenue guidance for the full year.

IRobot (IRBT) – iRobot earned a revised 84 cents a share for the fourth quarter, well above the consensus estimate of 84 cents, with earnings comfortably beating Wall Street expectations. The maker of the robotic vacuum cleaner Roomba also provided strong full-year revenue and profit guidance. The shares were up 7.3% in pre-market trading.

Zillow Group (ZG) – Zillow beat estimates by 14 cents with a revised quarterly earnings of 41 cents per share, with the real estate site operator also recording a revenue outlay. It also provided optimistic guidance on revenue, and announced its acquisition of the home-streaming platform ShowTime.com for $ 500 million in cash. Zillow shares were up 12% in pre-market trading.

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Zynga (ZNGA) – Zynga’s CEO Frank Guibault told Barron’s that a mobile game developer is open to a takeover offer, although he’s not actively seeking to sell the company. Zynga also posted a 61% jump in the main measure of net bookings during the last quarter, more than analysts had expected.

XPO Logistics (XPO) – XPO earned $ 1.19 average share for the fourth quarter, well above the consensus estimate of 67 cents. The logistic company also saw revenue above expectations and provided strong guidance on full-year earnings. XPO is taking advantage of an acceleration in shipping activity caused by the epidemic due to an explosion of online shopping.

Merck (MRK) – Merck is in talks with both governments and other drug manufacturers to help produce already approved Covid-19 vaccines. The pharmaceutical company did not specify which governments or other companies participated in those talks.

Pinterest (PINS) – Pinterest was contacted by Microsoft (MSFT) about a potential takeover in recent months, according to a roundup of the matter they spoke to the Financial Times. However, the report added that negotiations over the purchase of the photo-sharing company were not currently active.

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