Take a look at some of the most important engines in the pre-market stage:
Eli Lilly (LLY) – Shares of the drugmaker fell 3.6% premarket after it missed estimates with its quarterly results and cut its forecast for the full year. Lilly’s performance during the quarter was affected by lower insulin prices and falling sales of its Covid-19 treatment.
Cigna (CI): The insurance company reported better-than-expected earnings and revenue for the second quarter and raised its outlook for the full year. Cigna benefited from lower costs resulting from a slow uptick in non-urgent medical procedures. Cigna rose 2.6% in premarket trading.
Restaurant Brands (QSR) – The parent company of Popeyes, Tim Hortons and Burger King beat overall and general estimates for its latest quarter, with comparable restaurant sales also rising more than expected. Restaurant Brands added 1.8% in premarket shares.
Alibaba (BABA) – Shares of the China-based e-commerce giant rose 5.2% in premarket trading after better-than-expected quarterly results. That came despite flat revenue growth for the first time, due to Covid-19-related lockdowns in China.
Paramount Global (PARA) – Paramount fell 4% premarket despite better-than-expected quarterly results, which were boosted by the success of “Top Gun: Maverick.” Paramount noted that it spent more on its direct-to-consumer services during the quarter, with its flagship streaming service Paramount+ gaining 4.9 million subscribers.
Shake Shack (SHAK): Shares of the restaurant chain fell 5.7% premarket despite avoiding an expected loss with one quarter of breakeven on an adjusted basis. Shake Shake’s revenue missed Wall Street’s forecast, with the company saying June sales were below its expectations after April and May sales were as expected.
Booking Holdings (BKNG): The parent company of Priceline and other travel services reported better-than-expected quarterly earnings, but revenue missed forecasts and the company said travel difficulties such as flight cancellations reduced its profit. July growth. Booking Holdings fell 3.1% before trading.
Clorox (CLX): Clorox shares fell 5.9% in premarket trading as higher costs offset price gains for the company’s consumer products in its latest quarter. Revenue fell slightly below estimates, although earnings were in line with Wall Street forecasts.
Toyota Motor(TM): Shares of the automaker fell 3.5% in premarket action after it reported a 42% drop in profit from a year earlier in its latest quarter. Toyota was plagued by supply chain problems and rising costs, which prevented it from producing as many cars as it intended.