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News Update – Pre-Markets
Check out the companies making headlines before the bell:

Johnson & Johnson – J&J shares rose roughly 1% in the premarket after the company beat quarterly forecasts and raised its earnings outlook amid strong sales of drugs and medical devices. J&J reported adjusted quarterly earnings of $2.48 per share, beating the $2.27 consensus estimate, with revenue also topping Street forecasts.

Verizon – Verizon added 1.3% in premarket trading, after beating estimates by 7 cents with adjusted quarterly profit of $1.37 per share. The company also reported better-than-expected revenue and subscriber growth, and raised its full-year outlook.

Coca-Cola – The beverage giant’s shares rallied almost 2% in premarket action following an upbeat quarter. Coca-Cola came in 12 cents above estimates with adjusted quarterly earnings of 68 cents per share, with revenue beating forecasts as venues like stadiums and movie theaters reopened. Coca-Cola also raised its full-year forecast.

Harley-Davidson – The motorcycle maker reported quarterly earnings of $1.33 per share, 16 cents above estimates, although revenue was short of analyst projections. Its bottom line benefited from sales of more high-margin products like touring and cruiser bikes. Harley shares jumped more than 2.5% in the premarket.

Netflix – Netflix reported quarterly earnings of $2.97 per share, missing the consensus estimate of $3.16, although revenue and membership growth did beat forecasts. Its subscriber growth forecast for the current quarter is below current analyst estimates.

Chipotle Mexican Grill – Chipotle earned an adjusted $7.46 per share, beating consensus forecasts of a $6.52 per share profit. The restaurant chain’s revenue was slightly above Wall Street forecasts, and comparable sales also beat analyst projections as indoor dining continued to rebound. Chipotle shares surged roughly 4.5% in premarket trading.

United Airlines – United stock rose nearly 1% in the premarket after the airline matched estimates with a quarterly loss of $3.91 per share. United’s revenue did beat forecasts, quadrupling compared with a year earlier. The airline said it expected current-quarter unit revenue to improve compared with the pre-pandemic third quarter of 2019.

JPMorgan Chase – The bank awarded Jamie Dimon 1.5 million stock options that are not exercisable for at least 5 years, with the board saying the award reflects its desire for the 65-year-old CEO to continue in that role “for a significant number of years.”

SAP – SAP raised its outlook for the second time this year, with the business software giant benefiting from its work helping customers transition IT operations to the cloud. Despite the raise, SAP shares fell almost 5% in the premarket.

Qualtrics International – Qualtrics shares surged 4.5% in the premarket after the SAP spinoff forecast better-than-expected 2021 sales and losses that were smaller than analysts were anticipating. The provider of customer rating systems said its offerings have become more popular as companies increase their online presence and use of apps to do business.

Intuitive Surgical – Intuitive Surgical reported adjusted quarterly profit of $3.92 per share, compared with a $3.07 consensus estimate. The surgical equipment maker also reported better-than-expected revenue, as sales and usage of its da Vinci surgical robotic systems increased amid a rebound in medical procedures post-pandemic. Intuitive Surgical gained 3% in premarket trading.

Sleep Number – Sleep Number fell 28 cents shy of estimates with quarterly earnings of 88 cents per share, with the mattress retailer’s revenue below estimates as well. Sleep Number said supply shortages continue to impact its sales, and its stock tumbled more than 12% in premarket action.

- A word from our sposor -

Stocks making the biggest moves premarket: Coca-Cola, Johnson & Johnson, Netflix, Verizon & more