Companies Making Headlines Before Market Open
Pfizer: The pharmaceutical giant saw its shares increase by 1.8% following better-than-expected fourth-quarter results. Pfizer reported adjusted earnings of 63 cents per share, outpacing analysts’ predictions of 47 cents per share, on revenue of $17.76 billion compared to the expected $17.36 billion.
PepsiCo: The food and beverage company experienced a 2% decline in shares as its fourth-quarter revenue of $27.78 billion fell short of the $27.89 billion forecast by analysts. This marks the fifth consecutive quarter of reduced demand for its snacks and drinks in North America.
Merck: Shares plummeted 8% in premarket trading after the pharmaceutical company provided full-year guidance that disappointed analysts. Merck anticipates earnings per share in the range of $8.88 to $9.03 for 2025, below the expected $9.13, and expects revenue between $64.1 billion and $65.6 billion, also lower than forecasts.
General Motors and Ford Motor: Shares of both automakers rose by 1% after former President Donald Trump announced a 30-day pause on tariffs for Canadian imports, following a similar decision for Mexico. Both companies significantly operate in North America, particularly in Mexico.
PayPal: Despite reporting a positive earnings and revenue beat in the fourth quarter, PayPal’s shares fell 7.3%. The company anticipates adjusted earnings per share between $1.15 and $1.17 for the first quarter, surpassing analysts’ expectations of $1.13, and announced a fresh $15 billion share repurchase program.
Ferrari: Shares of the luxury carmaker climbed 4% after posting impressive earnings growth for 2024. The company recorded earnings of 1.53 billion euros, a 21% increase from 2023, and delivered 3,325 shipments, up from 3,245 the previous year.
Estée Lauder: The beauty product powerhouse saw its shares fall by 7% due to a disappointing fiscal third-quarter outlook. The company expects year-over-year revenue to decline between 10% and 12%, while analysts had anticipated a smaller drop of 6.9%. Nonetheless, Estée Lauder managed to exceed expectations for earnings and revenue in its second quarter.
Palantir Technologies: The defense technology firm experienced a remarkable 23% surge in shares after surpassing estimates for both earnings and revenue in the fourth quarter, along with issuing optimistic full-year guidance. Palantir reported adjusted earnings of 14 cents per share, exceeding the forecast of 11 cents, with revenue reaching $828 million, outpacing the $776 million expectation.
Spotify: The music streaming platform saw an 8% increase in shares following strong user growth in the fourth quarter. Spotify reported 675 million monthly active users, a 12% year-over-year increase, surpassing the expected 664.3 million. The company also exceeded expectations for both revenue and operating income.
Clorox: Shares of this cleaning products company dropped by over 3% after it released its quarterly results and updated its full-year guidance. Clorox reported a strong performance in the prior quarter, although it expects revenue to range between a 1% decline and a 2% increase for the entire year, contrary to previous estimates of flat sales or a 2% decline.
Diageo: The distributor of spirits, including Scotch whisky, saw a slight decline in shares after reporting first-half earnings that were weaker than anticipated, prompting it to withdraw medium-term guidance due to ongoing macroeconomic and geopolitical uncertainties. The company reported adjusted earnings of $c97.7 per share, less than the expected $c99.1, although net sales of $10.9 billion exceeded the projected $10.72 billion.
Apollo Global Management: Shares of the asset management firm dropped 1.6% after reporting mixed fourth-quarter results. While its earnings of $2.22 per share surpassed the expected $1.89, inflows fell to $33 billion from the previous quarter’s $42 billion.
Reporting contributed by CNBC’s Sarah Min, Lisa Kailai Han, and Jesse Pound.
