Walmart, Hormel Meals, Marriott, others

Check out the companies that are making the headlines before the bell:

Walmart (WMT) – Walmart reported adjusted quarterly earnings of $ 1.39 per share, which includes a 7 cent effect from the UK tax refund. The consensus estimate was $ 1.50. Sales exceeded forecasts and like-for-like sales in the US excluding fuel increased 8.6% versus the FactSet estimate of 5.8%. The retailer’s shares were down 5% prior to entering the market.

Hormel Foods (HRL) – The grocer’s inventory rose 2.2% ahead of its IPO after earnings estimates hit 41 cents a share and sales beat Wall Street projections. Hormel also said it was increasingly optimistic about full-year sales and earnings growth.

Marriott (MAR) – Marriott bucked recent hotel chain trends by beating Street’s estimates to hit an adjusted 12 cents per share in the most recent quarter, compared to a consensus estimate of 11 cents. Revenue has missed forecast as the company continues to be hit by the pandemic.

Waste Management (WM) – Waste Management stocks were up 1% prior to entering the market after the waste transportation company beat estimates by 4 cents, with adjusted quarterly earnings of $ 1.13 per share, with estimates also beating sales . Waste Management is also increasing its dividend annually by 12 cents to $ 2.30 per share.

Tilray (TLRY) – Tilray lost an adjusted 2 cents per share last quarter, less than Wall Street analysts expected loss of 15 cents, while the cannabis producer’s sales were above estimates. The results are ahead of Tilray’s proposed merger with rival Aphria (APHA), which is expected to close in the second quarter. The stock was up 4% prior to going public.

SunPower (SPWR) – SunPower doubled consensus estimates with adjusted quarterly earnings of 14 cents per share, despite the solar company’s revenue falling short of forecast. SunPower also issued a weaker-than-expected forecast for the current quarter, and its shares fell 7.1% in premarket trading.

Twilio (TWLO) – Twilio gained 9.5% prior to entering the market after posting adjusted earnings of 4 cents per share in the most recent quarter. This surprised analysts, who had expected that the provider of the cloud computing platform would post a loss of 8 cents per share. Revenue was also well above Street’s forecasts. The results were supported by recent acquisitions and election-related businesses, as well as what Twilio calls “broad diversified strength”.

Baidu (BIDU) – Baidu posted quarterly revenue that exceeded analysts’ forecasts. Search engine ad sales rebounded and demand for the company’s cloud services increased. Baidu stock is down 1.2% this morning.

Sleep Number (SNBR) – Sleep Number stocks are up 12.7% ahead of the IPO after reporting quarterly earnings of $ 2.19 per share, beating the consensus estimate of $ 1.45, with mattress retailer’s sales as well exceeded the estimates. Sleep Number also issued an optimistic forecast for the full year.

Tesla (TSLA) – Tesla cut prices on the cheaper versions of its Model 3 and Model Y vehicles, but increased prices on upscale variants. Shares were down 2% prior to going public.

Nutrien (NTR) – Nutrien reported better-than-expected results for the last quarter as the Canadian fertilizer maker saw increased demand due to rising crop prices and farmers’ plans to plant more acres this year. The stock was up 3.8% prior to going public.

Fastly (FSLY) – Fastly shares are under pressure, down 6.2% pre-IPO, after the cloud platform provider reported better-than-expected earnings and sales for the last quarter, but lower-than-expected earnings Had made a prognosis.

Tanger Factory Outlets (SKT) – The mall operator is up 3.1% after reporting a breakeven quarter, compared to projections of a 2 cents per share loss, while sales also beat estimates. Tangier saw an increase in pedestrian traffic for the quarter, although lower occupancy rates continue to weigh on revenue.

Bloomin ‘Brands (BLMN) – The restaurant operator’s shares fell 4.1% ahead of entry after sales fell below Street forecast for the last quarter. The company reported a breakeven quarter on an adjusted basis, compared to projections of a loss of 2 cents per share.

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