Check out the companies making headlines in pre-market trading. Pfizer — Shares rose more than 2% after New York-based Pfizer beat Wall Street’s first-quarter revenue forecast and raised its full-year profit forecast. The drugmaker now expects adjusted earnings of $2.15 to $2.35 per share for the full year, up from a previous forecast of $2.05 to $2.25. CVS Health – Shares fell 12.4% after the pharmacy chain and pharmacy benefits manager’s first-quarter adjusted earnings and revenue fell short of estimates and the company cut its full-year profit forecast, citing higher medical costs. CVS expects adjusted earnings of at least $7 per share in 2024, down from its previous forecast of $8.30 per share. Analysts were expecting $8.28 per share, according to LSEG. Marriott International – Shares of the hotel chain fell 1.8% on weak earnings and guidance for the current quarter. Marriott earned $2.13 per share excluding items in the first quarter, missing the consensus estimate of $2.17 among analysts surveyed by LSEG. Marriott expects current-quarter earnings of $2.43 to $2.48 per share, below Wall Street’s estimate of $2.52. Marriott’s first-quarter revenue was better than expected. Estée Lauder — Shares of the cosmetics and skin-care company fell more than 5% in pre-opening trading after earnings guidance for the fiscal fourth quarter ending June 30 missed Wall Street’s forecast. Estee Lauder now expects per-share earnings of 19 cents to 29 cents excluding items, below analysts’ estimates of 75 cents, according to FactSet. Amazon — The e-commerce platform gained about 2% after strong first-quarter earnings. Amazon’s forecast for current-quarter revenue growth of 7% to 11%, or $144 to $149 billion, fell 12% to $150.1 billion below the Street’s estimate, according to LSEG. Starbucks – Shares fell 13% after more weaker-than-expected fiscal second-quarter adjusted revenue and earnings – 68 cents per share on revenue of $8.56 billion, compared with estimates of 79 cents per share on revenue of $9.13 billion, according to LSEG – helped by a decline sales in one store. The coffee chain also lowered its profit and revenue forecast for the full 2024 fiscal year. Pinterest — Shares soared 16% after the social media platform beat Wall Street estimates for first-quarter revenue and profit. Revenue guidance for the second quarter also beat expectations, with Pinterest forecasting sales of $830 million to $850 million versus the LSEG consensus estimate of $827 million. AMD — Shares fell 7% after the chipmaker issued second-quarter sales guidance. AMD expects sales for the current quarter to be $5.7 billion, representing year-over-year growth of 6%. Shares of Super Micro Computer, a maker of high-performance servers, fell more than 13%, extending Tuesday’s loss of 3.5%. Fiscal third-quarter revenue of $3.85 billion was below the Street consensus estimate of $3.95 billion, according to LSEG. Yum Brands – Shares of the KFC and Taco Bell operators fell more than 4% after earnings in the first quarterly earnings of $1.15 per share fell short of analysts’ forecasts of $1.20 per share, according to LSEG data. Revenue of $1.6 billion fell short of expectations of $1.71 billion as Yum blamed results from Pizza Hut and KFC, which both saw same-store sales decline in the quarter. Kraft Heinz Shares fell 3.5% after the ketchup and prepared foods maker reported first-quarter revenue of $6.41 billion, missing the LSEG consensus estimate of $6.43 billion. Adjusted earnings per share in the amount of 69 cents coincided with expectations. Powell Industries — Shares of the Houston-based electric utility rose more than 24% after fiscal second-quarter results beat analysts’ expectations. Powell earned $2.75 a share on revenue of $255 million, according to FactSet, beating analysts’ consensus estimates of $1.78 million and $201.4 million. — CNBC’s Tanaya Machil, Alex Harring, Sarah Min and Michelle Fox contributed reporting.
