Stocks making the biggest moves in the premarket: CVS Health, Coty, T-Mobile US, Peloton & more
Take a look at some of the biggest movers in the premarket:
CVS Health (CVS) – CVS named Executive Vice President Karen Lynch as its next CEO, effective Feb. 1, replacing the retiring Larry Merlo. Separately, CVS reported better-than-expected sales and profit for its latest quarter, as prescription drug volumes rebounded. Shares rose 2% in premarket trading as of 7:34 a.m. ET.
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ViacomCBS (VIAC) – ViacomCBS earned 91 cents per share for the third quarter, 11 cents a share above estimates. Revenue also came in above analysts' projections. Results were helped by stronger demand for streaming services CBS All Access and Showtime. Shares were little changed in premarket trading as of 7:34 a.m. ET.
Coty (COTY) – Coty reported an unexpected profit for its latest quarter, with sales beating forecasts as well. The cosmetics maker's bottom line benefited from a jump in online sales. Coty shares jumped 10% in premarket trading as of 7:34 a.m. ET.
Hershey (HSY) – The chocolate and candy maker beat estimates by 14 cents a share, with quarterly earnings of $1.86 per share. Revenue also topped estimates. Hershey saw strong Halloween sales, as well as higher demand for chocolate chips and cocoa powder by stay-at-home consumers. Shares rose 2% in premarket trading as of 7:34 a.m. ET.
Marriott (MAR) – The hotel operator earned 6 cents per share for its latest quarter, compared to forecasts of 7 cents a share loss. Revenue was essentially in line with forecasts. Marriott took a pandemic-related hit, with profit down 74% from a year ago. Shares lost 1% in premarket trading as of 7:34 a.m. ET.
T-Mobile US (TMUS) – T-Mobile reported quarterly profit of $1.00 per share, more than double the 43 cents a share consensus estimate. The mobile operator's revenue was also above estimates and T-Mobile more than doubled consensus estimates for customer additions during the quarter. Shares rose 4% in premarket trading as of 7:34 a.m. ET.
Square (SQ) – Square earned 34 cents per share for its latest quarter, compared to a 16 cents a share consensus estimate. The mobile payment service's revenue came in above forecasts as well, helped by a rebound in payment volumes after a decline earlier in the year. Shares jumped 4% in premarket trading as of 7:34 a.m. ET.
Roku (ROKU) – Roku reported a 9 cents per share profit for the third quarter, compared to forecasts of a loss of 40 cents per share. Revenue was also well above estimates. The streaming video device maker saw active accounts jump 43% compared to a year earlier, as more consumers bought devices amid the pandemic. The shares gained 5% in premarket trading as of 7:34 a.m. ET.
Wynn Resorts (WYNN) – Wynn lost $7.04 per share for the third quarter, wider than the loss of $4.02 per share that analysts had been anticipating. The casino operator's markets in Las Vegas and Macau are slowly recovering. The shares lost 2% in premarket trading as of 7:34 a.m. ET.
Uber (UBER) – Uber reported a quarterly loss of 62 cents per share, 3 cents a share smaller than analysts had forecast. Revenue came in shy of estimates. Uber is seeing a slow recovery in its ride-hailing business, although demand is surging for its Uber Eats food delivery service. The shares fell slightly in premarket trading as of 7:34 a.m. ET.
Peloton (PTON) – Peloton beat estimates by 9 cents a share, with quarterly earnings of 20 cents per share. Revenue beat estimates as well on strong demand for Peloton's at-home exercise equipment. The company also warned of possible supply constraints due to that heavy demand. The shares fell 5% in premarket trading as of 7:34 a.m. ET.
Electronic Arts (EA) – Electronic Arts is expecting holiday quarter sales of $2.35 billion, which would be up sharply from the most recent quarter but short of analysts' forecasts. The videogame maker said it is seeing robust demand for its Madden NFL 21 game, which was released in August. The shares fell 7% in premarket trading as of 7:34 a.m. ET.
Zillow (ZG) – Zillow more than tripled the consensus estimate of 11 cents a share, with quarterly earnings of 37 cents per share. The real estate website operator's revenue also beat forecasts. Zillow reported an unadjusted profit for the first time in three years and the largest in its history. The shares jumped 8% in premarket trading as of 7:34 a.m. ET.
IAC/InterActive (IAC) – IAC is considering spinning off its stake in video platform Vimeo, following a fundraising round that raised $150 million and values the unit at $2.75 billion.
Xerox (XRX) – Investor Carl Icahn raised his stake in Xerox to 14.4% from 12.9%, according to a Securities and Exchange Commission filing.
Take-Two Interactive (TTWO) – Take-Two raised its annual sales forecast after quarterly earnings beat Wall Street forecasts, based on strong projected demand for video games like "Grand Theft Auto V" and "NBA 2K21."