Check out the companies making headlines in pre-market trading. Pfizer — New York-based Pfizer beat Wall Street’s first-quarter revenue forecasts and raised its full-year profit forecast, sending shares up more than 2%. The drugmaker now expects full-year adjusted earnings per share of $2.15 to $2.35, up from its previous forecast of $2.05 to $2.25. CVS Health — The pharmacy chain and pharmacy benefit manager fell 12.4% after its first-quarter adjusted profit and revenue fell short of expectations and it lowered its full-year profit forecast, citing rising medical costs. CVS expects adjusted earnings per share in 2024 of at least $7, down from previous guidance of $8.30 per share. Analysts expected $8.28 per share, according to LSEG. Marriott International — Shares of the hotel chain fell 1.8% on weaker earnings and guidance for the quarter. Marriott’s first-quarter earnings, excluding items, were $2.13 per share, below the $2.17 consensus forecast by analysts polled by LSEG. Marriott expects current-quarter earnings of $2.43 to $2.48 per share, below Wall Street expectations of $2.52. Marriott reported better-than-expected first-quarter revenue. Estée Lauder — The beauty and skin care stock fell more than 5% before the open after its profit guidance for the fiscal fourth quarter ended June 30 fell short of Wall Street expectations. Estée Lauder now expects to earn 19 cents to 29 cents per share excluding the item, below analysts’ expectations of 75 cents, according to FactSet. Amazon – The e-commerce platform gained about 2% after posting strong first-quarter profits. According to LSEG, Amazon’s forecast for revenue growth this quarter is 7% to 11%, or $144 billion to $149 billion, lower than Wall Street’s 12% growth forecast ($150.1 billion). Starbucks — Shares fell 13% as fiscal second-quarter adjusted profit and revenue fell short of expectations — down 68 cents per share on revenue of $8.56 billion, compared with expectations per share, according to LSEG Shares were trading at 79 cents on revenue of $9.13 billion. The coffee chain also slashed its full-year profit and revenue forecast for fiscal 2024. Pinterest — The social media platform’s first-quarter revenue and profit beat Wall Street estimates, sending shares soaring 16%. Second-quarter revenue forecasts also exceeded expectations, with Pinterest forecasting sales of $830 million to $850 million, while the LSEG consensus forecast was $827 million. AMD — Shares fell 7% after the chipmaker released its second-quarter sales forecast. AMD expects sales for this quarter to be $5.7 billion, equivalent to an annual growth rate of 6%. Super Micro Computer – The maker of high-performance servers fell more than 13%, extending Tuesday’s 3.5% loss. Fiscal third-quarter revenue was $3.85 billion, below Wall Street’s consensus estimate of $3.95 billion, according to LSEG. Yum Brands – Shares of the KFC and Taco Bell operator fell more than 4% after first-quarter earnings of $1.15 per share, missing analysts’ expectations of $1.20 per share, according to LSEG. Revenue of $1.6 billion missed forecasts of $1.71 billion as Yum blamed same-store sales for the quarter on performance from Pizza Hut and KFC. Kraft Heinz – The ketchup and prepared foods maker reported first-quarter revenue of $6.41 billion, missing LSEG’s consensus estimate of $6.43 billion, sending shares down 3.5%. 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 topped analysts’ expectations. FactSet data showed that Powell earned $2.75 per share on revenue of $255 million, which was higher than analysts’ average expectations of $1.78 and $201.4 million. —CNBC’s Tanaya Macheel, Alex Harring, Sarah Min and Michelle Fox contributed reporting
