Take a look at the companies making headlines before the bell:
Wendy’s (WEN): Wendy’s reported an adjusted profit of 17 cents per share, 1 cent below estimates, and revenue and same-store sales also missed analyst forecasts. The restaurant chain is taking a hit from higher labor and supply costs, with its shares down 3.4% in premarket trading.
Krispy Kreme (DNUT): Krispy Kreme gained 1.6% in premarket after beating general and economic estimates for its latest quarter. The donut chain’s “sales per center” metric increased 49.2% for international markets and 19.4% for the US and Canada.
Perrigo (PRGO): Perrigo fell 4.1% in premarket trading after reporting a mixed quarter, with adjusted profit 33 cents per share below the consensus estimate of 42 cents. However, the over-the-counter drugmaker reported better-than-expected earnings and raised its outlook for the full year after completing the acquisition of consumer healthcare company HRA Pharma earlier this month.
Roblox (RBLX): Roblox posted a broader-than-expected loss for its latest quarter, as well as sales that fell short of Street’s forecasts. The gaming platform company also said it expects losses to continue for the foreseeable future, as spending rises and pandemic-induced demand fades. Roblox fell 1.1% in premarket action, paring an earlier loss of 10% outside of business hours.
Unity Software (U): Unity Software slumped 23% in premarket after the video game software developer issued weaker-than-expected earnings guidance. Its latest quarterly loss matched estimates, but sales fell short of consensus.
Coinbase (COIN): Coinbase slumped 14.4% in premarket trading after reporting an unexpected quarterly loss. The cryptocurrency exchange operator lost $1.98 per share in its most recent quarter, compared to consensus forecasts for a profit of 18 cents per share. Coinbase noted a decline in users amid an ongoing slump in the crypto market.
Occidental Petroleum (OXY) – Occidental Petroleum added 1.3% in the premarket share after rising earnings in its latest quarter, helped by rising oil prices. Occidental is the biggest gainer among S&P 500 stocks, having more than doubled this year.
Toyota (TM): Toyota said its earnings for the current fiscal year could take a 20% hit due to an increase in raw material costs. The automaker said it would work with suppliers to find alternative materials and other ways to cut costs. The shares fell 2.2% in premarket trading.
RealReal (REAL) – RealReal rallied 9.3% premarket after the second-hand luxury goods seller reported better-than-expected quarterly sales. It reported a larger-than-expected loss but said it was poised to benefit from an inflationary trend in the prices of new luxury goods.
H&R Block (HRB): H&R Block reported better-than-expected quarterly sales and earnings, and the tax preparation company also raised its forecast on upbeat results from tax season. Shares of H&R Block rose 3.3% in premarket trading.