Check out the companies that make the headlines before the doorbell rings:
Procter & Gamble (PG) – The consumer goods giant rose 1.1% in premarket after beating estimates by 5 cents with a quarterly profit of $ 1.13 while sales also beat forecasts. P&G warned of continued inflationary pressures with rising input costs. Separately, CEO David Taylor will step down in November after a six-year term and be replaced by Chief Operating Officer Jon Moeller. Taylor becomes Executive Chairman.
Exxon Mobil (XOM) – Exxon Mobil earned $ 1.10 per share in the second quarter, 11 cents above estimates, while revenue also beat Wall Street forecasts. Exxon benefited from an improved cost structure and better market conditions.
Chevron (CVX) – Chevron rose 1.9% in early trading after beating estimates by 12 cents with adjusted quarterly earnings of $ 1.71 per share. Revenue also beat estimates as oil prices rose and market conditions improved.
Caterpillar (CAT) – Caterpillar lost 2% in premarket despite posting better-than-expected earnings and sales in the second quarter. Caterpillar beat estimates by 20 cents with adjusted quarterly earnings of $ 2.60 per share, aided by a recovering global economy.
Robinhood (HOOD) – Robinhood stock remains on guard after falling more than 8% in its first Wall Street session. CEO Vlad Tenev told CNBC’s Jim Cramer that he is not concerned about daily market fluctuations and that he is looking at the fortunes of the trading platform provider long-term.
Capri Holdings (CPRI) – The company behind luxury brands Michael Kors and Versace made an adjusted $ 1.42 per share last quarter, well above the consensus estimate of 80 cents. Sales also exceeded forecasts and Capri raised its annual outlook for the second time this year. The share rose 3.9% before the IPO.
Restaurant Brands (QSR) – The parent company of Tim Hortons, Popeyes and Burger King reported adjusted quarterly earnings of 77 cents per share, 51 cents above estimates, and sales were also above Wall Street projections. Results were boosted by an increasing number of customers visiting restaurants as the pandemic subsided.
Amazon (AMZN) – Amazon stock fell 6.6% in the premarket after missing Wall Street’s sales estimates for the first time since the third quarter of 2018. However, it reported quarterly earnings of $ 15.12 per share, beating consensus estimate of $ 12.30.
Pinterest (PINS) – Pinterest stock was beaten 21.2% in early trading after the owner of an image-sharing website reported a quarterly decline in monthly average users. Pinterest had seen a surge in usage during the pandemic as people stayed at home and spent more time in front of their computers. However, Pinterest surpassed analyst estimates for both profit and revenue last quarter.
T-Mobile US (TMUS) – T-Mobile reported quarterly earnings of 78 cents per share, 25 cents above Street’s forecasts, while the wireless operator also beat estimates. The increased demand for 5G devices and services helped to increase the number of subscribers.
Gilead Sciences (GILD) – Gilead was 14 cents above estimates, with adjusted quarterly earnings of $ 1.87 per share, while the drugmaker’s sales also beat estimates. However, Gilead’s flagship HIV drug sales were down 2% in the quarter and the stock was down 1.5% in pre-trading hours.
Texas Roadhouse (TXRH) – Texas Roadhouse beat estimates 9 cents with quarterly earnings of $ 1.08 per share, while the restaurant chain’s revenue also surpassed Street’s projections. However, Texas Roadhouse said it anticipates food costs will continue to rise, and its stock fell 5.2% ahead of the market.