Before the bell rings, take a look at the businesses that are making news.
Pfizer— The pharmaceutical company’s stock increased 1.8% as a result of better-than-expected fourth-quarter earnings. Pfizer reported $17.76 billion in revenue, with adjusted earnings of 63 cents per share.
PepsiCo — Following a fourth-quarter revenue miss, the food and beverage company’s shares dropped 2%.
Merck — Following the pharmaceutical behemoth’s full-year guidance that fell short of analyst expectations, shares were down 8% in the premarket.
General Motors and Ford Motor – After President Donald Trump temporarily suspended duties on Canadian imports for 30 days after doing the same for Mexico, the companies’ shares increased by 1% each.
PayPal – Although the digital payments company reported better-than-expected forward guidance and a fourth-quarter earnings and revenue beat, the shares sank 7.3%.
Ferrari — After the luxury carmaker announced robust earnings growth for 2024, shares listed in the United States were up 4%.
Estee Lauder – Following the release of a dismal fiscal third-quarter projection, the beauty products company plunging 7%.
Palantir Technologies – After the defence business published better-than-expected expectations for the entire year and above forecasts on the top and bottom lines for the fourth quarter, shares of the company shot up 23%.
Spotify: After announcing higher-than-expected subscriber growth in the fourth quarter, the music streaming behemoth saw an 8% boost.
Clorox — Following its fiscal second quarter results, the cleaning products company saw a more than 3% decline in value.
Diageo— The distributor of Scotch whisky and other spirits posted lower-than-expected first-half results and withdrew its medium-term guidance due to macroeconomic and geopolitical uncertainty, which caused shares to marginally decline.
Apollo Global Management: The asset management company’s stock fell 1.6% as a result of its inconsistent fourth-quarter performance.
Source (CNBC)