CVS, Under Armour, Moderna and more

Check out the companies making headlines before the bell:

CVS Health (CVS) – The drugstore operator and drugstore benefits manager saw its shares rise 3.8% in the pre-market after beating revenue and profit estimates and raising its earnings forecast for the full year. Results were helped by strong sales of over-the-counter Covid-19 tests as well as an upbeat performance from its insurance unit.

Under Armor (UAA) – The sportswear maker gained 2% in premarket stock despite lowering its full-year profit forecast. Increased promotional activity and currency headwinds impacted Under Armour’s profit margins, but it reported earnings for its latest quarter that matched estimates and revenue slightly above consensus.

Moderna (MRNA) – The vaccine maker reported better-than-expected earnings and revenue for its latest quarter and also announced a $3 billion share buyback program. Moderna also maintained its full-year sales outlook and its stock gained 2.6% in premarket share.

Starbucks (SBUX) – Starbucks shares rose 1.8% premarket after posting better-than-expected quarterly earnings and revenue. Global same-store sales were lower than expected, however, due to weakness in the locked-in Chinese market.

Sierra Wireless (SWIR) – The connectivity technology provider has agreed to be acquired by Canadian semiconductor maker Semtech for $31 per share cash or $1.2 billion. Sierra Wireless jumped 7.8% in premarket, while Semtech shares fell 1.5%.

Dish Network (DISH) – The satellite television company added 1.3% in premarket trading after reporting better-than-expected quarterly results. The net result came despite a slight loss of revenue and the loss of 257,000 pay-TV subscribers in the quarter.

SoFi (SOFI) – Shares of the fintech company soared 10.9% in premarket action after reporting a lower-than-expected loss and better-than-expected earnings. It also released strong revenue forecasts for the full year. Results were helped by a 91% increase in personal loan origination volume.

Match Group (MTCH) – Shares in the dating services operator fell 21.4% pre-market after reporting quarterly results below expectations and saying revenue growth would be flat over the of the second semester. Match also announced the departure of Renate Nyborg, CEO of its Tinder unit.

Airbnb (ABNB) – Airbnb reported better-than-expected quarterly results with revenue mostly in line, as travel demand soared. However, the stock fell 7.3% in premarket trading after posting a weaker-than-expected booking forecast for the current quarter.


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