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Biogen, Novavax, Netflix, Verizon and others

A customer enters a Verizon store in San Francisco, California, USA on Tuesday, July 20, 2021.

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Check out which companies hit the headlines before the call:

Anthem (ANTM) – The insurance company reported adjusted quarterly earnings of $ 6.79 per share, above the Refinitiv consensus of $ 6.37 per share, with revenue also above forecasts. Anthem also raised its annual outlook on the back of higher premiums for its Medicare and Medicaid divisions.

Biogen (BIIB) – The premarket drug maker rose 2.2% after the company beat profit and profit estimates and raised its full-year guidance. For the quarter, Biogen generated adjusted earnings of $ 4.77 per share, compared to the consensus estimate of $ 4.11 per share. The company remains optimistic about the prospects for its Alzheimer’s drug, Aduhelm, despite slower-than-expected adoption.

Novavax (NVAX) – Shares of the drug maker fell 26.1% in premarket after a Politico report saying it was having trouble meeting FDA quality standards for its Covid-19 vaccine.

Winnebago (WGO), a recreational vehicle manufacturer, beat estimates by 56 cents on adjusted quarterly earnings of $ 2.57 per share, with revenue also topping estimates. The results were driven by strong consumer demand, which allowed the company to raise prices amid higher production costs. Winnebago added 2.4% premarket.

Verizon (VZ) – Verizon beat estimates by 5 cents with adjusted quarterly earnings of $ 1.41 a share, although revenue was slightly below Street’s forecasts. Verizon also raised its annual forecast as growing 5G adoption drives sales. Verizon shares rose 1% at the premarket.

Netflix (NFLX) – Netflix reported quarterly earnings of $ 3.19 per share, above the Refinitiv consensus of $ 2.56 per share, with revenue in line with forecasts. Netflix added 4.4 million new subscribers during the quarter, beating expectations, but forecast earnings for the current quarter below consensus. Netflix shares in premarket dropped 2.2%.

United Airlines (UAL) – United lost a third-quarter adjusted $ 1.02 per share, less than Wall Street’s expected loss of $ 1.67 per share. United said the spread of the Covid delta variant has slowed but did not stop its recovery. In premarket shares, United was up 1.6%.

Canadian National Railways (CNI) – Railroad CEO Jean-Jacques Rouest will retire at the end of January. Investors have been calling for him to leave after the company’s failed bid to buy Kansas City Southern (KSU). Premarket shares rose 3.3%.

Brinker International (EAT) – Brinker said its margins have declined due to higher labor and raw material costs. A parent of Chili’s and other restaurant chains said the rise in Covid Delta cases has exacerbated these problems. Brinker shares fell 13.7% premarket.

WD-40 (WDFC) – Shares in WD-40 fell 11% in premarket after a lubricants maker reported lower-than-expected earnings and revenue for the last quarter. CEO Harry Ridge said the pandemic has caused abnormal fluctuations in the company’s sales results.

Tegna (TGNA) – Tegna added 1.2% premarket after Bloomberg reported that media mogul Byron Allen received additional support for his $ 23 / share offer to the broadcaster.


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