Check out the companies making headlines before the bell:
Wendy’s (WEN) – Wendy’s reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts. The restaurant chain is seeing a negative impact from higher costs for supplies and labor, and its shares slide 3.4% in premarket trading.
Krispy Kreme (DNUT) – Krispy Kreme gained 1.6% in the premarket after beating top and bottom line estimates for its latest quarter. The donut chain’s “sales per hub” metric jumped 49.2% for international markets and 19.4% for the US and Canada.
Perrigo (PRGO) – Perrigo fell 4.1% in premarket trading after reporting a mixed quarter, with adjusted profit of 33 cents per share falling short of the 42 cent consensus estimate. However, the over-the-counter drug maker did report better than expected revenue and raised its full-year outlook after completing the acquisition of consumer health care company HRA Pharma earlier this month.
Roblox (RBLX) – Roblox posted a wider than expected loss for its latest quarter as well as sales that fell shy of Street forecasts. The gaming platform company also said it expects losses to continue for the foreseeable future, as expenses rise and as pandemic- induced demand increases fade. Roblox fell 1.1% in premarket action, paring an earlier 10% off-hours loss.
Unity Software (U) – Unity Software plunged 23% in the premarket, after the video game software developer issued weaker than expected revenue guidance. Its latest quarterly loss matched estimates, but it sales were shy of consensus.
Coinbase (COIN) – Coinbase slumped 14.4% in premarket trading after it reported an unexpected quarterly loss. The cryptocurrency exchange operator lost $1.98 per share for its latest quarter, compared to consensus forecasts of an 18 cents per share profit. Coinbase noted a decline in users amid an ongoing slump in the crypto market.
Occidental Petroleum (OXY) – Occidental Petroleum added 1.3% in premarket action following an earnings beat for its latest quarter, helped by surging oil prices. Occidental is the top gainer among S&P 500 stocks, having more than doubled this year.
Toyota (TM) – Toyota said its profit for the current fiscal year could take a 20% hit due to a jump in raw materials costs. The automaker said it would work with suppliers to come up with alternative materials and other ways to reduce expenses. Shares fell 2.2% in premarket trading.
RealReal (REAL) – RealReal rallied 9.3% in the premarket after the seller of secondhand luxury goods reported better than expected quarterly sales. It did report a wider than expected loss, but it said it was poised to benefit from an inflationary trend in the prices of new luxury goods.
H&R Block (HRB) – H&R Block reported better than expected quarterly sales and profit, with the tax-preparation company also raising its forecast on upbeat tax season results. H&R Block shares jumped 3.3% in premarket trading.
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