The largest premarket stock movers include Coca-Cola, Twitter, and Tapestry.
Check out the companies making headlines before the bell:
Coca-Cola's premarket shares increased by 1.3% after the company surpassed earnings estimates by 4 cents, with adjusted quarterly earnings of 45 cents per share. Additionally, revenue exceeded Wall Street projections, and Coca-Cola anticipates commodity price inflation to be in the mid-single-digit percentage range for 2022.
Despite reporting top and bottom-line misses for its latest quarter, Twitter's stock price increased by 6.6% in premarket action. Additionally, the company announced a new $4 billion stock buyback program.
Tapestry, the company behind the Coach and Kate Spade brands, reported adjusted quarterly earnings of $1.33 per share, exceeding the $1.18 consensus estimate. Additionally, the company's revenue surpassed expectations, and Tapestry raised its full-year guidance based on the increasing demand for its luxury goods.
Canada Goose's shares dropped 10.3% in premarket trading after its earnings missed analyst expectations, despite revenue exceeding projections. The company reduced its full-year forecast due to Covid-19 restrictions affecting demand for its parkas and footwear.
Disney's premarket trading surged 7.5% after beating Wall Street forecasts on both the top and bottom lines for its latest quarter. Disney's adjusted earnings per share came in at $1.06, well above the 63 cents per share consensus estimate. The growth in Disney+ subscriber base and record profit from its theme parks contributed to this success.
Uber's ride-hailing business rebounded, leading to better-than-expected quarterly results. The company's Uber Eats food delivery business also continued to see strong demand. Shares gained 5.8% in premarket trading.
Mattel exceeded analysts' expectations by 23 cents with adjusted quarterly earnings of 53 cents per share, and its revenue also surpassed forecasts. The growth in its Barbie brand contributed to Mattel's results, and it issued an optimistic outlook for 2022. The shares rose 12.6% in the premarket.
Sonos' premarket trading saw a 6.4% increase after beating analyst expectations on both the top and bottom lines for the latest quarter. Despite ongoing supply chain issues, the company reported strong demand.
Datadog's cybersecurity platform company reported better-than-expected profit and revenue for its latest quarter, resulting in a 14.5% surge in the premarket.
Twilio's premarket stock price increased by 19.8% after the company reported a narrower-than-expected quarterly loss and revenue that exceeded estimates. Additionally, Twilio provided an optimistic outlook for current-quarter revenue.
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