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Home›Car Parts›Monster Beverage, Constellation Brands, Arista Networks and more

Monster Beverage, Constellation Brands, Arista Networks and more

By Gabriela Perkins
February 15, 2022
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Take a look at some of the biggest pre-market movers:

Monster Beverage (MNST), Constellation Brands (STZ) – Merger talks between Monster Beverage and Constellation Brands are progressing, according to people familiar with the matter who spoke to Bloomberg. These people say a deal between the two companies could be reached within weeks if the talks go smoothly. Constellation gained 2.2% pre-market while Monster Beverage gained 3.1%.

Arista Networks (ANET) – Arista Networks reported quarterly earnings of 82 cents per share, 9 cents per share above estimates. Revenue from the networking software and services company also beat Wall Street forecasts. Arista also released an upbeat forecast, helping its shares jump 10.1% pre-market.

Restaurant Brands (QSR) – The restaurateur beat estimates by 4 cents per share, with quarterly earnings of 74 cents per share. Revenues also exceeded estimates. Burger King’s same-store sales beat analysts’ forecasts, helping to offset misfires at Tim Hortons and Popeyes chains.

BorgWarner (BWA) – The auto component maker reported quarterly earnings of $1.06 per share, well above the consensus estimate of 75 cents per share. Revenues also exceeded forecasts. BorgWarner’s full-year profit forecast, however, is below analysts’ estimates, despite an expected improvement in organic sales. BorgWarner was up 1% in premarket trading.

Marriott (MAR) – Shares of Marriott jumped 3% in the pre-market after the hotel operator beat high and low expectations for its latest quarter. Marriott earned $1.30 per share, 31 cents per share above estimates, as occupancy rates rose amid increased vaccinations.

Zoetis (ZTS) – Zoetis rose 2% in premarket trading on better-than-expected quarterly results. Zoetis beat estimates by 4 cents a share, with quarterly earnings of $1.00 a share, as improvements in its pet products business offset lackluster results in livestock product sales.

Tower Semiconductor (TSEM) – Intel (INTC) has announced an agreement to buy the Israeli chipmaker for $53 per share, or $5.4 billion, a 60% premium to Tower’s closing price on Monday. Tower manufactures chips for a wide variety of industries, including medical, automotive, and consumer products. Tower Semiconductor climbed 44.6% in premarket stock, while Intel added 1.6%.

Advance Auto Parts (AAP) – Advance Auto Parts beat estimates by 10 cents per share, with quarterly earnings of $2.07 per share. The auto parts retailer’s revenue also beat analysts’ forecasts. Advance Auto’s sales were higher than a year earlier, but profits were lower as it faced inflationary headwinds. Shares fell 1% in premarket action.

Avis Budget (CAR) – The company reported better-than-expected earnings and revenue for its latest quarter as increased rental activity and revenue per day helped offset higher expenses.

Intuit (INTU) – Intuit has lowered its guidance for the current quarter as tax season gets off to a slow start. Popular software maker TurboTax, however, maintained its full-year guidance, suggesting the company thinks revenue has simply been pushed to a later quarter. Intuit fell 1% in premarket trading.

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