Take a look at the companies that appear in the headlines before the bell:
Under Armor (UAA) – The athletic apparel manufacturer posted an adjusted loss for the first quarter of 1 cent per share, compared to an estimate of earnings of 6 cents per share. Under Armor also issued a weaker-than-expected year-over-year profit forecast as it absorbed the impact of higher costs and supply chain disruptions. Under Armor fell 12.5% in pre-market trade.
Cigna (CI) – The insurance company reported adjusted quarterly earnings of $ 6.01 per share, compared to the consensus estimate of $ 5.18, and earnings were also above analysts’ forecasts. Cigna’s results have been supported by strong growth in its pharmacy benefit management business, among other factors.
DraftKings (DKNG) – DraftKings rose 9.8% in pre-market action after quarterly results. The sports betting company reported a loss for the quarter, but revenue was better than expected with an increase in monthly unique paying customers and average customer revenue. DraftKings also raised its revenue guidelines for the full year.
Shake Shack (SHAK) – Shake Shack fell 2.8% in pre-market trade despite narrower-than-expected quarterly losses and revenues that exceeded Wall Street forecasts. The restaurant chain issued a lighter-than-expected forecast as it coped with rising costs for beef, chicken and other goods.
Block (SQ) – The block grew by 5% in premarkets, despite analysts’ missing forecasts for both profit and revenue. Fintech’s operating profits exceeded forecasts and she said she had not noticed a deterioration in consumer spending.
Virgin Galactic (SPCE) – Virgin Galactic fell 4.9% in pre-market trade after the company said it would postpone the launch of its commercial space flight service until the first quarter of 2023, blaming labor and chain problems for deliveries. Analysts are also concerned about Virgin Galactic’s levels of money burning.
DoorDash (DASH) – DoorDash reported a larger-than-expected quarterly loss, but food service revenue exceeded analysts’ estimates, with total orders exceeding $ 400 million for the first time. Shares rose 6% in the pre-market.
Peloton (PTON) – Peloton is investigating the sale of a significant minority stake in a fitness equipment maker, according to people familiar with the matter who spoke to The Wall Street Journal. It is claimed that the share under discussion is around 15% to 20%, although there is no guarantee that the deal will be finalized. Peloton fell 1.8% in precautionary trade.
Johnson & Johnson (JNJ) – Shares of Johnson & Johnson fell 1% in pre-markets after the FDA restricted the company’s use of Covid-19 after a blood clot study in some recipients. The vaccine will now only be authorized for patients who do not qualify for other vaccines or when no alternatives are available.
Zillow Group (ZG) – Shares of the real estate website operator fell 13.9% in the pre-market after the publication of a lower-than-expected forecast, citing an uncertain real estate environment. Zillow reported better-than-expected earnings and revenue for the last quarter.
Live Nation (LYV) – The mother of Ticketmaster and other entertainment operations reported less-than-expected loss for its last quarter, with strong demand from customers and advertisers. Live Nation added 2.2% to premarkets.
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