Check out the companies making headlines before the bell:
Coca-Cola (KO) – The beverage giant matched estimates with quarterly earnings of 44 cents per share, with revenue above Street forecasts. Coca-Cola also said it had its largest market share gain – as measured by value – in nearly a decade.
Verizon (VZ) – Verizon missed estimates by a penny a share, with quarterly profit of $1.13 per share. Revenue beat forecasts, however, and Verizon saw 852,000 wireless retail postpaid net additions during the quarter.
Altria (MO) – The tobacco producer reported in-line adjusted earnings of $1.02 per share, but revenue came in below estimates. Altria took a fourth-quarter impairment charge of $4.1 billion related to its investment in e-cigarette maker Juul.
DuPont (DD) – The life sciences company matched estimates with quarterly earnings of 95 cents per share. Revenue came in below estimates, however, and its earnings outlook for 2020 below consensus. The company said full-year results will be negatively impacted by nylon pricing declines, among other factors.
Blackstone (BX) – Blackstone reported distributable earnings of 72 cents per share, 5 cents a share above estimates. The private-equity firm said its assets under management increased 21% during 2019 to a record $571 billion.
Eli Lilly (LLY) – The drugmaker beat estimates by 21 cents a share, with quarterly earnings of $1.73 per share. Revenue also came in above forecasts, driven by stronger sales of newer products introduced over the past five years.
Hershey (HSY) – The chocolate maker reported quarterly earnings of $1.28 per share, 4 cents a share above estimates. Revenue also topped estimates and the company gave an upbeat 2020 forecast, helped by price increases and investments in new products.
United Parcel Service (UPS) – UPS matched estimates with quarterly profit of $2.11 per share, but the package delivery company's revenue missed forecasts.
Tesla (TSLA) – Tesla reported quarterly earnings of $2.14 per share, beating the consensus estimate of $1.72. Revenue also beat projections and the company said full-year 2020 deliveries should exceed 500,000.
Facebook (FB) – Facebook beat estimates by 3 cents a share, with quarterly profit of $2.56 per share. The company beat on the top line as well. The stock is under pressure, however, on concerns about profit margins and a sharp rise in expenses.
Align Technology (ALGN) – Align is expecting a $35 million hit to revenue due to virus-related business disruptions in China. That news is weighing on the stock, even though the maker of the Invisalign teeth straightening system beat Wall Street forecasts on the top and bottom lines for its latest quarter.
Mondelez (MDLZ) – Mondelez came in a penny a share ahead of analysts' forecasts, with quarterly earnings of 61 cents per share. The maker of Oreo cookies and other snacks also saw revenue beat estimates, however Mondelez said it expects current-quarter revenue to take a hit from the coronavirus outbreak.
PayPal (PYPL) – PayPal reported quarterly profit of 86 cents per share, 3 cents a share above estimates. Revenue was slightly above forecasts, however the payment service gave a weaker-than-expected outlook for the current quarter and the full year.
Unilever (UL) – Unilever is beginning a strategic review of its tea business, which includes the Lipton and PG Tips brands. The consumer products company decided on the review as sales of traditional black tea slow in favor of herbal tea.
Lyft (LYFT) – Lyft cut 90 jobs, about 1.6% of its workforce, impacting the ride-hailing company's sales and marketing departments.