Walt Disney (DIS) — Walt Disney announced adjusted quarterly earnings of 80 cents per share, well exceeding the 55-cent consensus estimate, with revenue also exceeding expectations. A resurgence in theme park attendance in the United States, as well as stronger-than-expected growth for its Disney+ streaming service, bolstered Disney’s results. The business did, however, express concern about the delta coronavirus variant’s impact. In the premarket, Disney stock rose 5.5 percent.
ME (23andMe) – In its first quarter as a public business, the genetic research firm recorded sales of $59 million, up 23 percent from a year ago, while posting a lower loss. In premarket trading, 23andMe stock rose 2.1 percent.
SOFI – SoFi lost 48 cents per share in the second quarter, against analyst expectations of a loss of 6 cents per share. The digital financial services company’s revenue exceeded expectations, with membership more than doubling year over year, but the shares fell 9.6% in premarket trading.
Pfizer (PFE), BioNTech (BNTX), and Moderna (MRNA) — The FDA has approved Covid-19 vaccine booster injections for immunocompromised patients who have received vaccinations from Pfizer/BioNTech and Moderna. Pfizer increased by 0.2 percent, BioNTech up by 2.4 percent, and Moderna increased by 2.3 percent.
Kansas City Southern- KSU has rejected a better acquisition offer from Canadian Pacific Railway (CP), claiming that it is not a “superior proposition” to the arrangement it has with Canadian National Railway (CNI). Canadian Pacific’s offer is valued at $27 billion, compared to Canadian National’s $29 billion, but Canadian Pacific believes its bid has a greater chance of being approved by regulators.
Rocket Companies (RKT) – Despite a shortfall on the top and bottom lines for the online mortgage platform operator, Rocket shares rose 5.4 percent in premarket trading. Rocket reported a year-over-year increase in completed loan origination volume and provided a positive current-quarter outlook for a range of measures.
WISH (ContextLogic) – Following top and bottom line shortfalls for its most recent quarter, the e-commerce platform company’s stock dropped 27.8% in premarket trading. Wish.com’s owner said that demand for its items was declining, that there were fewer users and active purchasers, and that expenses were rising.
Activision Blizzard (ATVI) – The videogame maker’s shares rose 1.1 percent in premarket trade after Citi upgraded it from “neutral” to “buy,” citing a positive risk/reward profile following the company’s recent drop.