Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.
Amgen (AMGN) shares rose in early trading. The biotech drugmaker said it would cut up to 2,900 jobs or about 15% of its workforce. It will also close two laboratories in Washington state and two manufacturing plants in Colorado. The cost-cutting moves are expected to help the company reallocate resources to fund the development of new drugs. The news of the layoffs come even as Amgen raised its earnings and revenue outlook for the year, and reported better-than-expected earnings and revenue. Profits rose 23% from a year earlier and revenue jumped 11% thanks to strong sales for many of its drugs.
SodaStream (SODA) stock got a nice pop in the pre-market. The Israel-based manufacturer of household soda machines reported earnings of $0.43 a share, blowing past analysts' estimates. Revenue also beat expectations, up nearly 7% from a year earlier driven by strong sales in Western Europe and Asia, which offset weakness in the Americas. The company has been grabbing headlines in recent weeks with talk about a potential takeover.
DreamWorks (DWA) shares fell before the bell. The film animation studio reported a wider-than-expected loss of $0.18 a share in the second quarter. Revenue also missed analysts' estimates, falling 43% from a year ago after its latest movie "How to Train Your Dragon 2" did not prove to be a big hit at the box office. The company also took a $57 million write-down on its film, "Mr. Peabody & Sherman.” And DreamWorks also disclosed an ongoing Securities and Exchange Commission investigation related to a write-down of film inventory connected to its movie "Turbo."
Sprint (S) shares rose in early trading. The wireless provider swung to a profit of $0.01 as it retained more customers. Revenue also came in slightly above estimates. Sprint and T-Mobile (TMUS) have been in talks about a potential merger since late last year. Reuters reported yesterday the two companies are not likely to announce a merger before September because they are still preparing a detailed case for a deal to appease U.S. regulators.
Twitter (TWTR) soared in the pre-market after reporting better-than-expected earnings and user data for the second quarter. Revenue also topped estimates, up 124% over last year. Engagement was up as well, helped in part by the World Cup. The number of Twitter's monthly active users grew by 24% to 271 million compared to the same quarter last year. Timeline views also increased 15% over last year.
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