Walt Disney (DIS) – Disney reported quarterly profit of 32 cents per share, surprising analysts who had expected a loss of 41 cents per share. Disney saw a not-unexpected slump in theme park attendance and box office results due to Covid, but the success of its Disney+ streaming service continues. Disney+ now has 94.9 million subscribers after adding more than 21 million during the quarter. Disney shares rose 1.4% in premarket trading as of 7:30 a.m. ET.
Newell Brands (NWL) – The company behind consumer brands like Rubbermaid, Sharpie and Sunbeam reported quarterly profit of 56 cents per share, beating estimates by 8 cents a share. Revenue came in above estimates as well. Newell forecast full-year earnings at $1.55 to $1.65 per share, compared with a consensus estimate of $1.68 a share, amid softness in its writing business that’s cutting into strong performances in areas such as appliances and cookware. The stock fell 2.5% in pre-market action.
Coherent (COHR) – Electronic components maker II-VI (IIVI) is planning a $6.5 billion bid for the laser maker, according to people familiar with the matter who spoke to The Wall Street Journal. The bid is worth $260 per share in cash and stock, topping the $226 per share agreement that Coherent already has with Lumentum Holdings (LITE) as well as a $240 per share bid from MKS Instruments (MKSI). Coherent surged 16.4% in premarket trading, while II-VI fell 4.3%.
Moody’s (MCO) – Higher expenses caused the credit rating agency to miss estimates by 6 cents a share, with quarterly earnings of $1.91 per share. Revenue exceeded Wall Street forecasts, however its projected full-year 2021 earnings range is largely above analyst forecasts. Moody’s also raised its quarterly dividend to 62 cents per share from 56 cents a share.
Expedia (EXPE) – Expedia slid 1.6% premarket after reporting that it lost $2.64 per share for its latest quarter, wider than the loss of $1.97 per share that analysts were anticipating. The online travel services company’s revenue fell short of forecasts, amid a 67% drop in bookings due to the resurgence of Covid-19 cases and lockdowns.
Affirm Holdings (AFRM) – Affirm tumbled 7.6% premarket after it reported a loss of 45 cents per share in its first results since going public on Jan. 13. That was smaller than the 81 cents a share loss anticipated by Wall Street, and the provider of buy-now, pay-later loans also saw revenue beat forecasts. Affirm forecast weaker-than-expected sales volume for the current quarter, however, as the pandemic-induced boom in online shopping slows.
SurveyMonkey (SVMK) – SurveyMonkey tumbled 10.8% in the premarket, after the online survey company provided weaker-than-expected guidance for the current quarter. SurveyMonkey reported a profit of 3 cents per share for its most recent quarter, compared to expectations of a breakeven quarter.
Marathon Oil (MRO) – Marathon has laid off about 100 U.S. workers, or about 5% of its workforce, according to a company official who spoke to Reuters. Marathon said its move was part of its continuing effort to optimize its cost structure.
AstraZeneca (AZN) – AstraZeneca said it expects to double monthly Covid-19 vaccine production by April after fixing issues with its manufacturing. That would bring monthly production to 200 million doses.
Bausch Health (BHC) – Bausch Health jumped 6.3% premarket following news that billionaire investor Carl Icahn has taken a 7.8% stake, according to a Securities and Exchange Commission filing. Icahn plans to give input on the pharmaceutical company’s strategies and possibly seek board representation.
Datadog (DDOG) – Datadog reported better-than-expected quarterly earnings and revenue, but the provider of cloud monitoring services is seeing its shares fall 4.7% premarket after it issued a weaker-than-expected outlook.
VeriSign (VRSN) – VeriSign shares rose 5.1% in the premarket, after the domain name registration company reported better-than-expected quarterly earnings, with revenue matching Wall Street forecasts. VeriSign also added $747 million to its stock buyback program.