Melissa Juried Kriebel
Check out the companies making headlines before the bell:
CVS (CVS) – CVS gained 1.9% in the premarket after reporting better-than-expected revenue and profit for its latest quarter. The company also raised its adjusted full-year guidance. The outlook excludes charges related to a just-announced $5 billion settlement of opioid litigation.
Estee Lauder (EL) – The cosmetics maker’s shares tumbled 11.5% in premarket trading after the company issued a weaker-than-expected outlook, noting higher costs, a stronger US dollar and Covid lockdowns in China. Estee Lauder reported better-than-expected earnings for its latest quarter.
Canada Goose (GOOS) – The outerwear company cut its full-year revenue forecast, prompting a 2.4% premarket drop in its shares. Canada Goose is seeing Covid restrictions in China weigh on its sales.
Paramount Global (PARA) – The media company’s shares slid 8.5% in the premarket after top and bottom line misses for its latest quarter.
Tupperware (TUP) – The maker of household storage products said it may not be able to comply with the covenants in its credit agreements, and that issue raises doubts about its ability to continue as a going concern. The stock plummeted 36% in premarket action.
Cheesecake Factory (CAKE) – Cheesecake Factory shares lost 3.3% in the premarket after the restaurant chain reported an unexpected quarterly loss. Cheesecake Factory pointed to higher costs, particularly for utilities and building maintenance.
Livent (LTHM) – Livent lost 4.7% in premarket trading after the lithium producer cut its full-year sales and profit forecast. The company said inflation and other economic factors are crimping production of the metal used in electric vehicle batteries.
Match Group (MTCH) – Match Group shares surged 14.7% in premarket trading after the dating service operator reported better-than-expected quarterly revenue, driven by a boost in paid subscriptions for its Tinder service.
Mondelez (MDLZ) – Mondelez gained 3.3% in the premarket after the maker of Oreos, Sour Patch Kids, and other snacks raised its full-year outlook. The company has benefited from price hikes that are not hurting demand for its products.
Rogers Corp. (ROG) – Rogers plunged 40.8% in premarket action after DuPont (DD) ended its $5.2 billion buyout deal for the engineering materials maker. The deal was terminated because the parties could not obtain the necessary regulatory clearances in China. DuPont gained 3.6%.
Caesars Entertainment (CZR) – Caesars shares rallied 6.8% in premarket trading after the resort operator topped analyst estimates for both the top and bottom lines during its latest quarter. Caesars also said its digital betting business turned profitable on an adjusted basis for the quarter, 12 months ahead of the company’s target.