Business

Coca-Cola, Twitter, Tapestry and others

Check out the companies that make headlines before the call:

Coca-Cola (KO) – Shares of Coca-Cola added 1.3% in premarket trading after the company beat expectations by 4 cents on adjusted quarterly earnings of 45 cents per share. Revenue also beat Wall Street’s forecasts, with Coca-Cola forecasting commodity price inflation in 2022 to be in the mid-single-digit percentage range.

Twitter (TWTR) — Twitter jumped 6.6% in premarket despite reports of top and bottom misses in the last quarter. Twitter also announced a new $4 billion share buyback program.

Tapestry (TPR), the company behind the Coach and Kate Spade brands, reported adjusted quarterly earnings of $1.33 per share, beating the consensus estimate of $1.18. Revenue beat forecasts, and Tapestry also raised its full-year guidance on rising demand for luxury goods.

Canada Goose (GOOS) – The winter clothing maker tumbled 10.3% in premarket trading after its earnings fell below analysts’ forecasts, although revenue beat forecasts. Canada Goose cut its full-year forecast as Covid-related restrictions impacted demand for its parkas and footwear.

Walt Disney (DIS) – Disney stock rose 7.5% in premarket trading after beating Wall Street’s top and bottom line forecasts for the latest quarter. Disney earned adjusted earnings of $1.06 per share, well above the consensus estimate of 63 cents per share, supported by growth in the Disney+ subscriber base and record earnings from theme parks.

Uber Technologies (UBER) – Uber reported better-than-expected quarterly results as its taxi hailing business rebounded. The company continues to see strong demand for its Uber Eats food delivery business. Shares rose 5.8% in premarket trading.

Mattel (MAT) – Mattel beat estimates by 23 cents, with adjusted quarterly earnings of 53 cents per share, and the toy maker’s revenue also beat analysts’ forecasts. Mattel’s results were partly driven by the growth of its Barbie brand, as well as optimistic forecasts for 2022. Shares rose 12.6% in premarket trading.

Sonos (SONO) – Sonos shares rose 6.4% in premarket trading after outperforming analysts’ top and bottom line estimates for the most recent quarter. The smart audio equipment maker said demand remains strong, although it is still being affected by supply chain issues.

Datadog (DDOG) – Datadog rose 14.5% in premarket trading after the cybersecurity platform company reported higher-than-expected earnings and revenue for the latest quarter.

Twilio (TWLO) – Twilio’s stock rose 19.8% in premarket trading after the communications software company reported narrower-than-expected quarterly losses and earnings that were well above estimates. Twilio also released an optimistic earnings forecast for the current quarter.


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