Check out the corporations making headlines earlier than the bell:
Marriott (MAR) – Marriott earned an adjusted 10 cents per share for the first quarter, beating the Three cent consensus estimate, with the lodge operator’s income very barely beneath forecasts. Marriott stated it was seeing a rebound in demand as more individuals obtain Covid-19 vaccinations. Shares fell 1.2% in premarket buying and selling.
Coty (COTY) – Coty reported a breakeven fiscal third quarter, matching analysts’ estimates, with income in step with estimates as effectively. Sales had been 3.3% beneath year-ago ranges as European lockdowns muted demand for Coty’s cosmetics.
Energizer Holdings (ENR) – Energizer shares rose 1.7% in premarket motion, after the firm reported adjusted quarterly earnings of 77 cents per share in contrast with the 60 cent consensus estimate. Revenue additionally beat projections, and the maker of batteries and different family merchandise raised its full-year forecast.
US Foods (USFD) – The meals distributor’s inventory was up 1% in the premarket, after it beat estimates by 7 cents with adjusted quarterly earnings of 12 cents per share. Revenue additionally topped estimates regardless of pandemic-related strain on gross sales quantity. The backside line was helped by decrease bills.
BioNTech (BNTX) – The drug maker beat estimates on each the high and backside strains for the first quarter, serving to its inventory surge by 8.7% in premarket motion. BioNTech additionally stated there isn’t any present proof that factors to the have to adapt its Covid-19 vaccine to rising variants of the virus, though it’s ready to take action if needed.
Tyson Foods (TSN) – The beef and poultry producer earned an adjusted $1.34 per share for its fiscal second quarter, beating the $1.12 consensus estimate, with income additionally above forecasts. Tyson stated it expects its rooster section to proceed to expertise some strain as a consequence of a difficult labor atmosphere and extreme winter climate.
Viatris (VTRS) – Viatris shares added 2.6% premarket buying and selling regardless of barely lower-than-expected revenue. Sales beat estimates and the healthcare firm declared its first quarterly dividend of 11 cents per share. Viatris was created final yr by a merger of Pfizer’s Upjohn unit and generic drug maker Mylan.
Freeport McMoran (FCX), Hecla Mining (HL), Southern Copper (SCCO) – These and different copper mining corporations are getting a lift as copper costs hit file highs on tight provide and expectations of excessive demand. Freeport-McMoran rose 3.3% in the premarket, whereas Hecla jumped 3.6% and Southern Copper jumped 3.4%.
Simon Property (SPG) – The mall operator and Authentic Brands are shopping for attire retailer Eddie Bauer from non-public fairness agency Golden Gate Capital for an undisclosed quantity. Eddie Bauer will be a part of a number of different well-known model names owned by the two corporations, together with Aeropostale, Forever 21 and Brooks Brothers.
AstraZeneca (AZN) — AstraZeneca might skip making use of to the FDA for emergency use authorization for its Covid-19 vaccine, in keeping with individuals acquainted with the matter who spoke to the Wall Street Journal. It would as a substitute deal with the more prolonged full-approval course of.
Box Inc. (BOX) – Activist investor Starboard Value is placing up a minority administrators slate for the board of software program firm Box, in keeping with a Bloomberg report. Starboard owns an 8% stake in Box, however doesn’t really feel that efficiency has improved sufficiently because it invested in 2019.
Live Nation Entertainment (LYV) – Live Nation was upgraded to “buy” from “hold” at Jefferies, which stated a 13% pullback has supplied a horny entry level for the live performance and stay occasion promoter. Jefferies calls Live Nation a “pure-play restoration” and long-term progress story, and the firm’s shares added 1.3% in premarket buying and selling.
Intel (INTC) – UK competitors regulators have begun a proper inquiry into the proposed acquisition of Intel’s flash reminiscence and strong state onerous drive companies by South Korea’s SK Hynix. Intel agreed to promote the models to Hynix in October for about $9 billion. Regulators need to decide if the transaction would result in a considerable lessening of competitors.
