Significant stock movements before the market opens: Coca-Cola, CVS Health, Ferrari, Taiwan Semi, and others

Stock Market Updates: Key Moves Before the Bell

Here’s a quick look at some companies stirring up headlines recently. Taiwan Semiconductor Manufacturing Co. saw its shares increase by 3% after reporting record monthly sales. The company stated that January sales jumped to NT$401.3 billion, a notable 37% increase compared to the previous year.

In a separate update, Dupont De Nemours experienced a 2% rise in its shares, thanks to fourth-quarter profits that surpassed analysts’ expectations. The adjusted earnings per share for the period came in at 46 cents, beating the anticipated 43 cents. Sales matched expectations at $1.69 billion, and the company also shared improved guidance for earnings and revenue for the full year.

On the flip side, S&P Global’s shares dropped around 16%. The company is now projecting that its adjusted earnings for 2026 will land between $19.40 and $19.65 per share, which is below the consensus estimate of $20.02. In the fourth quarter, adjusted earnings per share were reported at $4.30, slightly missing analysts’ expectations of $4.33.

CVS Health also saw a 2% decline in its stock after maintaining its revenue outlook for 2026 at a minimum of $400 billion, which fell short of the $409.77 billion that analysts had expected. They did mention a full-year operating cash outlook of at least $9 billion—lower than prior guidance of $10 billion and under the FactSet consensus of $10.59 billion. However, CVS reported that its fourth-quarter profits and sales exceeded analysts’ forecasts.

Ferrari’s shares, on the other hand, rose by more than 8% after reporting increased profits and sales for the fourth quarter. They also provided revenue and profit guidance for the full year of 2026 that aligned with analysts’ expectations.

Coca-Cola faced a roughly 3% drop following a revenue shortfall in the fourth quarter and a forecast of modest growth. The company’s adjusted sales amounted to $11.82 billion, falling short of the $12.03 billion anticipated by analysts. Nonetheless, adjusted earnings were slightly better than expected at 58 cents per share. The company anticipates organic revenue growth of 4% to 5% for the full year, with comparable earnings per share growth between 7% and 8%.

ON Semiconductor’s stock dipped nearly 5% as sales in its two major business segments decreased. The fourth-quarter revenue was $1.53 billion, just below the consensus estimate of $1.54 billion. However, adjusted earnings per share stood at 64 cents, exceeding expectations of 62 cents.

In a sharp decline, Upwork’s shares fell 24% after revealing that it had 785,000 active clients at the end of 2025, down from 832,000 the previous year. The company also projected current-quarter revenue between $192 million and $197 million, falling short of LSEG’s estimate of $201 million. Moreover, its adjusted profit outlook for the upcoming quarter was also lower than anticipated.

Chegg experienced a 6% drop as well, posting an adjusted EBITDA of $12.9 million in the fourth quarter, down from approximately $37 million a year ago. Revenue was reported at $72.7 million, which was a 49% decrease year-over-year.

In a more positive turn, Credo Technology shares surged by 15% following an announcement that the company is raising its revenue guidance for the third quarter of fiscal 2026, expecting revenue to range from $404 million to $408 million, significantly higher than the prior target of $335 million to $345 million.