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Take a look at some of the biggest incentives in the premarket:
Eli Lilly ( LLY ) – The drugmaker’s stock fell 3.6% in the premarket after missing estimates with its quarterly results and cutting full-year guidance. Lilly’s performance during the quarter was affected by lower prices for insulin and falling sales of the Covid-19 treatment.
Cigna ( CI ) – The insurer reported better-than-expected second-quarter earnings and revenue and raised its full-year outlook. Cigna was helped by lower costs resulting from a slow recovery in non-urgent medical procedures. Cigna rose 2.6% in premarket trading.
Restaurant Brands ( QSR ) – The parent company of Popeyes, Tim Hortons and Burger King beat top- and bottom-line estimates for the latest quarter, with comparable restaurant sales also rising more than expected. Restaurant Brands added 1.8% in premarket action.
Alibaba (BABA) – Shares of the China-based e-commerce giant jumped 5.2% in premarket trading after better-than-expected quarterly results. This was despite solid revenue growth for the first time due to Covid-19-related restrictions in China.
Paramount Global ( PARA ) – Paramount fell 4% in the premarket despite better-than-expected quarterly results, boosted by the success of “Top Gun: Maverick.” Paramount noted that it spent more on its direct-to-consumer services during the quarter, with its flagship streaming service Paramount+ gaining 4.9 million subscribers.
Shake Shack ( SHAK ) – Shares of the restaurant chain fell 5.7% in the premarket despite narrowly avoiding an expected loss on an adjusted quarter. Shake Shake’s revenue missed Wall Street forecasts, and the company said June sales came in below expectations after April and May sales came in as expected.
Booking Holdings ( BKNG ) – The parent of Priceline and other travel services reported better-than-expected quarterly earnings, but revenue missed forecasts and the company said travel difficulties such as flight cancellations dampened its growth in July. Booking Holdings fell 3.1% in the premarket.
Clorox ( CLX ) – Shares of Clorox fell 5.9% in premarket trading as higher costs offset price increases for the company’s consumer products last quarter. Revenue fell slightly below estimates, although earnings matched Wall Street forecasts.
Toyota Motor ( TM ) – Shares of the automaker fell 3.5% in premarket action after it reported a 42% drop in profit from a year ago for the latest quarter. Toyota was affected by supply chain issues and rising costs, which prevented it from producing as many cars as it wanted.
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