Check out the companies that are trending in pre-market trading. Pfizer — Shares rose more than 2% after New York City-based Pfizer beat Wall Street’s first-quarter sales expectations and raised its full-year profit outlook. The company now expects adjusted earnings per share to be between $2.15 and $2.35 for the full year, up from its previous forecast of $2.05 to $2.25. CVS Health — Stocks soar after the drugstore chain and pharmacy benefits manager reported lower-than-expected first-quarter adjusted earnings and sales and lowered its full-year profit outlook, citing higher medical costs. It fell 12.4%. CVS now expects adjusted earnings of at least $7 per share in 2024, down from its previous forecast of $8.30 per share. Analysts had expected $8.28 per share, according to LSEG. Marriott International – The hotel chain fell 1.8% following weaker revenue and the outlook for the current quarter. Marriott’s first-quarter earnings, excluding items, were $2.13 per share, below the consensus estimate of $2.17 per share from analysts polled by LSEG. Marriott expects current-quarter earnings to range from $2.43 to $2.48 per n share, below Wall Street’s estimate of $2.52. Marriott’s first-quarter earnings beat expectations. Estée Lauder — The beauty and skin care stock fell more than 5% before the opening bell after the company’s profit outlook for its fiscal fourth quarter, which ended June 30, fell short of Wall Street expectations. Estée Lauder now expects earnings per share, excluding items, of 19 cents to 29 cents, below analysts’ expectations of 75 cents, according to FactSet. Amazon — The e-commerce platform rose about 2% following strong first-quarter profits. Amazon’s revenue growth forecast for the quarter was between 7% and 11%, or $144 billion to $149 billion, according to LSEG, which was below the Street’s 12% growth estimate of $150.1 billion. Starbucks – Shares fell 13% after second-quarter adjusted earnings and sales fell short of expectations. LSEG said it earned 68 cents a share on revenue of $8.56 billion, compared to expectations of 79 cents a share on revenue of $9.13 billion. Decrease in same-store sales. The coffee chain also lowered its full-year 2024 earnings and sales forecasts. Pinterest — Shares soared 16% after the social media platform beat Wall Street expectations with first-quarter revenue and bottom line. Second-quarter revenue estimates also beat expectations, with Pinterest’s revenue estimate of $830 million to $850 million and LSEG’s consensus estimate of $827 million. AMD — Shares fell 7% after the chipmaker released expected second-quarter revenue forecasts. AMD expects sales of $5.7 billion this quarter, representing an annual growth rate of 6%. The super microcomputer — a maker of high-efficiency servers — fell more than 13%, extending its 3.5% decline on Tuesday. LSEG said third-quarter revenue was $3.85 billion, below the Street’s consensus estimate of $3.95 billion. Yum Brands – Shares of the KFC and Taco Bell operator fell more than 4% after first-quarter earnings of $1.15 per share fell short of analysts’ expectations of $1.20, according to LSEG. Revenue fell to $1.6 billion, below expectations of $1.71 billion, as Yum blamed the performance of Pizza Hut and KFC, which suffered same-store sales declines in the quarter. Kraft Heinz — Shares fell 3.5% after the ketchup and prepared foods maker reported first-quarter sales of $6.41 billion, below the LSEG consensus estimate of $6.43 billion. Adjusted earnings per share were 69 cents, in line with expectations. Powell Industries — The Houston-based power infrastructure stock soared more than 24% after fiscal second-quarter results beat analysts’ expectations. Mr. Powell’s earnings per share were $255 million and revenue of $2.75, beating analyst consensus of $1.78 and $201.4 million, according to FactSet. — CNBC’s Tanaya Machel, Alex Harring, Sarah Min and Michelle Fox contributed reporting
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