GM, CVS, Kraft Heinz, Tupperware and others

Check out the companies that make the headlines before the doorbell rings:

General Motors (GM) – General Motors missed the consensus estimate of $ 2.23 per share with adjusted earnings of $ 1.97 per share for the second quarter, despite revenue beating Wall Street projections. GM has raised its forecast for the remainder of the year due to strong demand and pricing. GM initially lost 3% in the premarket, but then bounced back to make up for most of that loss.

CVS Health (CVS) – CVS earned an adjusted $ 2.42 per share for the second quarter, beating the consensus estimate of $ 2.06 while also beating revenue forecasts. The drugstore and pharmacy services company also saw sales in the same store grow 12.3% better than expected. Separately, CVS also announced that it would raise the minimum wage for employees to $ 15 an hour.

Kraft Heinz (KHC) – Kraft Heinz beat estimates 6 cents with adjusted quarterly earnings of 78 cents per share, while the grocery manufacturer’s revenue also beat estimates. Demand for the company’s snacks and prepackaged meals continued to be strong during the quarter.

Tupperware (TUP) – Tupperware shares rose 2.5% in the premarket after beating second-quarter sales and bottom line results. With an adjusted 95 cents per share, the manufacturer of household storage products earned well above the consensus estimate of 57 cents.

Robinhood (HOOD) – The trading platform’s stock rose 13.1% in pre-trading hours, on top of a 24.2% gain in trading Tuesday when it rose above $ 38 per share for the first time since it went public last Thursday rose. It was also one of the most heavily traded stocks yesterday.

Activision Blizzard (ATVI) – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share, and the video game maker’s revenue was slightly above Wall Street’s projections. There was also an optimistic forecast, expecting continued strong demand for popular franchises such as Candy Crush and Call of Duty. The share gained 5.6% in pre-trading hours.

Amgen (AMGN) – Amgen made an adjusted $ 4.38 per share last quarter, compared to a consensus estimate of $ 4.09. The biotech giant’s sales also beat analyst estimates, although visits and procedures remain below pre-pandemic levels. Amgen also said it is at odds with the IRS fighting claims that it owes $ 3.6 billion in back taxes.

Lyft (LYFT) – Lyft reported an adjusted quarterly loss of 5 cents per share, less than analysts’ forecast loss of 24 cents, with the ride-hailing service bringing in better than expected. Lyft saw strong demand for ridesharing and achieved profitability based on earnings before interest, taxes, depreciation and amortization (EBITDA).

Match Group (MTCH) – Match Group fell 6 cents below estimates with quarterly earnings of 46 cents per share, despite the operator of Tinder and other dating services seeing revenue beating projections. Tinder’s sales growth is accelerating as vaccination rates rise, but Match said the recovery is lagging behind in some key overseas markets. In pre-trading hours, stocks fell 4%.

Caesars Entertainment (CZR) – Caesars earned 34 cents per share last quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue also exceeded estimates thanks to a strong recovery in the Las Vegas market. Caesars added 2% in pre-IPO sales.

Affirm Holdings (AFRM) – Affirm gained another 2.4% pre-trading after rising 3% yesterday. The payment service’s stocks are bolstered by a Bloomberg report that it will partner with Apple (AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.

Avis Budget (CAR) – Avis Budget rose 1.9% in pre-hours trading after reporting its best quarter in history, with rising demand and higher rental prices tripling sales. Adjusted earnings per share were $ 5.90, compared to a consensus estimate of $ 1.21.

Live Nation (LYV) – Live Nation said sales increased nearly eightfold in the most recent quarter as live events returned amid an increase in vaccinations. The live events organizer said concerts and other events sell out quickly and at ticket prices 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.

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