Stocks making the biggest moves in the premarket: Monster Beverage, Constellation Brands, Arista Networks and more
Take a look at some of the biggest movers in the premarket:
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. Those people say an agreement between the two companies could be reached within weeks if the talks go smoothly. Constellation gained 2.2% in the premarket while Monster Beverage rallied 3.1%.
Arista Networks (ANET) – Arista Networks reported quarterly earnings of 82 cents per share, 9 cents a share above estimates. The networking software and services company's revenue topped Wall Street forecasts as well. Arista also issued an upbeat forecast, helping its shares surge 10.1% in the premarket.
Restaurant Brands (QSR) – The restaurant operator beat estimates by 4 cents a share, with quarterly earnings of 74 cents per share. Revenue came in above estimates as well. Burger King's comparable-store sales beat analysts' forecasts, helping to offset misses at the Tim Hortons and Popeyes chains.
BorgWarner (BWA) – The automotive components maker reported quarterly profit of $1.06 per share, well above the 75 cents a share consensus estimate. Revenue also came in above forecasts. BorgWarner's full-year earnings forecast is shy of analysts' estimates, however, despite an expected improvement in organic sales. BorgWarner rose 1% in premarket trading.
Marriott (MAR) – Marriott shares jumped 3% in the premarket after the hotel operator beat top- and bottom-line forecasts for its latest quarter. Marriott earned $1.30 per share, 31 cents a share above estimates as occupancy rates increased amid a rise in vaccinations.
Zoetis (ZTS) – Zoetis was up 2% in premarket trading on
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