Market Insider

Early movers: KO, VIAB, CVS, ITC, TWTR, V, FOXA, SHLD, WYN & more

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

Check out which companies are making headlines before the bell:

Coca-Cola — Coke beat estimates by 1 cent with adjusted quarterly profit of 38 cents per share, with revenue also above forecasts. Coke saw a 3 percent increase in global volume growth and benefitted from increased prices.

Viacom — Viacom reported adjusted quarterly profit of $1.18 per share, matching estimates, while the top line was slightly below thanks in part to a 15 percent drop in film unit revenue. Separately, Viacom announced a new ad deal with Snapchat,allowing Viacom to sell ads on Snapchat's behalf.

CVS Health — The drug store operator matched estimates with adjusted quarterly profit of $1.53 per share, with revenue slightly above forecast. CVS also saw a 5 percent increase in pharmacy same-store sales during the quarter.

ITC Holdings — The electric transmission company will be acquired by Canadian utility Fortis for $11.3 billion in cash and stock. ITC shareholders will receive $22.57 per share in cash plus about ¾ of a Fortis share for each share they now hold, or about $45 per share.

Twitter — Twitter has announced the formation of the "Twitter Trust & Safety Council," designed to ensure that users feel safe expressing themselves when using the service.

Visa — The credit card issuer has unveiled "Visa Consumer Transaction Controls," a number of features which allow more easily set spending controls, transaction alerts, and the ability to suspend accounts with an on/off feature.

Sears — The retailer issued preliminary fourth quarter results that fall below Wall Street estimates, pointing to a "challenging" holiday season, and said it would accelerate the closing of unprofitable stores.

Wendy's — The restaurant chain said preliminary results indicate adjusted quarterly profit of 12 cents per share, 1 cent above estimates, with revenue also above forecasts and same-store sales up 4.8 percent for the quarter. Wendy's will unveil its official results on March 3.

Wyndham Worldwide — The hotel operator came in 1 cent above estimates with adjusted quarterly profit of 98 cents per share, with revenue also above forecasts. The company also raised its quarterly dividend to 50 cents per share from 42 cents, and added $1 billion to its share buyback program.

21st Century Fox — The media company matched estimates with adjusted quarterly profit of 44 cents per share, though revenue came in below forecasts as it fell 8.4 percent from a year earlier. TV and cable ad revenue were stronger, but that was offset by a slide in the Fox film unit, among other factors.

Plains All American Pipeline — The pipeline company saw its profit and revenue fall below Street estimates, hurt by factors such as unseasonably warm weather as well as the ongoing slump in energy prices.

Novartis — Novartis has struck a deal with insurers Cigna and Aetna that will set the price for the pharmaceutical company's new heart drug Entresto based on its performance.

Sanofi — The French drug maker reported a 6.5 percent profit decline for its fourth quarter, due in part to falling revenue in the U.S. market for diabetes drugs, and said profit would not change much in 2016 from last year.

Verizon — Verizon will likely have to pay more than the $1 billion price tag for its current Thursday night NFL streaming deal if it wants to renew, according to the New York Post. Bloomberg had previously reported that AT&T, Yahoo, and Verizon are expected to put in bids for the package.

Gap — The apparel retailer reported a sales decline for January, but the parent of Gap, Banana Republic, and Old Navy said full-year earnings would come in at the high end of its earlier guidance.

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