CVS, Under Armour, Modern and more

Take a look at the companies making headlines before the bell:

CVS Health (CVS): Pharmacy operator and pharmacy benefit manager saw its shares rise 3.8% premarket after beating headline and earnings estimates and raising its full-year earnings forecast . Results were helped by strong sales of over-the-counter covid-19 tests, as well as an upbeat performance from its insurance unit.

Under Armor (UAA): The sportswear maker gained 2% in premarket action despite cutting its full-year earnings forecast. Increased promotional activity and currency headwinds have weighed on Under Armour’s profit margins, but it reported earnings for its most recent quarter that matched estimates and revenue slightly above consensus.

Moderna (MRNA): The vaccine maker reported better-than-expected earnings and revenue for its latest quarter and also announced a $3 billion share buyback program. Moderna also maintained its full-year sales outlook, with its shares up 2.6% before trading.

Starbucks (SBUX) – Shares of Starbucks rose 1.8% premarket after it reported better-than-expected quarterly earnings and revenue. However, global comparable store sales were below forecasts, due to the weakness of the locked-up Chinese market.

Sierra Wireless (SWIR): The connectivity technology provider has agreed to be acquired by Canadian semiconductor manufacturer Semtech for $31 per share in cash or $1.2 billion. Sierra Wireless was up 7.8% before trading, while shares in Semtech fell 1.5%.

Dish Network (DISH): The satellite TV company added 1.3% in premarket trading after reporting better-than-expected quarterly earnings. The bottom line came despite a slight loss in revenue and the loss of 257,000 pay-TV subscribers during the quarter.

SoFi (SOFI) – Shares of the fintech company soared 10.9% in premarket action after it reported a smaller-than-expected loss and better-than-expected earnings. It also issued strong earnings guidance for the full year. Results were helped by a 91% increase in personal loan origination volume.

Match Group (MTCH) – Shares of the dating services operator fell 21.4% premarket after it reported lower-than-expected quarterly results and said gross revenue growth would be flat during the second half of the year. year. Match also announced the departure of Renate Nyborg, CEO of its Tinder unit.

Airbnb (ABNB) – Airbnb reported better-than-expected quarterly earnings with its revenue essentially online as travel demand soared. However, the stock fell 7.3% in premarket trading after it issued a lighter-than-expected booking forecast for the current quarter.

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