Take a look at some of the biggest movers in the premarket:
(PEP) – The beverage and snack giant , with quarterly earnings of $1.45 per share. Revenue also beat forecasts. Organic revenue growth was a better-than-expected 4.3%, and the company said it is projecting a 4% growth rate for organic revenue in 2020.
(BABA) – The China-based e-commerce giant , and also reported increases in various user metrics. Results got a boost from growth in both e-commerce and cloud computing.
(AIG) – The insurance company reported quarterly profit of $1.03 per share, 3 cents a share above estimates. AIG saw smaller catastrophe losses and improved underwriting results.
(KHC) – The food producer beat estimates by 4 cents a share, with quarterly earnings of 72 cents per share. Revenue missed forecasts as higher prices weren’t enough to offset lower sales volumes in the U.S.
(ACB) – The Canadian cannabis producer reported lower-than-expected revenue for its latest quarter and warned that industry headwinds will continue to impact revenue.
(GNRC) – The maker of power generators reported quarterly profit of $1.53 per share, 17 cents a share above estimates. Revenue also came in above Wall Street forecasts. The quarter was highlighted by a 9.7% increase in residential sales, although commercial and industrial sales fell 2.7%.
(CSCO) – Cisco , beating estimates by a penny a share. The networking equipment maker’s revenue also topped analysts’ forecasts. Cisco warned of a revenue drop of as much as 3.5% for the current quarter, however, as global economic uncertainties slow technology investments.
(MGM) – MGM CEO Jim Murren after the casino operator’s board picks a successor. Murren has been CEO at MGM Resorts since 2008, but said the company now needs a CEO who can lead the company into the next decade or two. Separately, the company pulled its 2020 forecast, saying it could not yet assess the full impact of the coronavirus.
(TRIP) – TripAdvisor earned an adjusted 38 cents per share for the fourth quarter, beating consensus by 5 cents a share. The travel review site operator’s revenue also came in above forecasts.
(NUS) – Nu Skin reported in-line earnings of 72 cents per share for its latest quarter, with the personal care products company’s revenue beating estimates. The shares are under pressure after the company warned of a 2020 decline in Mainland China sales of 20% to 25% due to the coronavirus.
(AMAT) – Applied Materials came in 5 cents a share ahead of estimates, with quarterly earnings of 98 cents per share. Revenue also beat Wall Street forecasts. The maker of semiconductor manufacturing equipment also gave an upbeat current-quarter earnings forecast, helped by the rollout of 5G mobile technology.
(HON) – The industrial conglomerate is weighing the sale of its protective equipment business, according to a Bloomberg report.
(RDFN) – Redfin reported a smaller-than-expected loss for its fourth quarter and the real estate website operator’s revenue came in ahead of estimates. Redfin also gave a current-quarter revenue forecast largely above Street forecasts.
(CAT) – Caterpillar at Goldman Sachs, which said that fundamentals for the heavy equipment maker have improved and that Caterpillar now has a favorable risk/reward profile.