Twitter, Coca-Cola, Warner Bros. Discovery and more

Check out the companies making the headlines premarket Trade.

Coca-Cola — Shares of Coca-Cola rose about 1% after the company beat analysts’ expectations for revenue and earnings in its most recent quarter. The beverage giant reported adjusted earnings of 64 cents a share on sales of $10.5 billion, while analysts were expecting 58 cents a share on sales of $9.83 billion.

Twitter – Twitter ticked up 5% on reports that the social media giant is close to a deal with Elon Musk. It comes a day after the company’s board of directors reportedly met on Sunday to discuss a takeover bid from Elon Musk, which has already secured $46.5 billion in funding.

Oil stocks – Shares in energy companies fell on Monday as oil prices fell on fears of a global slowdown amid lockdowns in Shanghai. Chevron, ConocoPhillips and Marathon Oil declined 2.2%, 2.6% and 2.8%, respectively.

Kellogg – Shares of Kellogg fell 1.8% after Deutsche Bank downgraded the stock to hold. The bank cited the impact of workers’ strikes, rising inflation and supply chain disruptions as reasons for the downgrade.

Verizon – Verizon’s shares fell 1% after Goldman Sachs downgraded the stock to neutral. The bank said Verizon is well positioned for 5G growth but offers a lower potential return compared to peers like AT&T.

Penn National Gaming – Gaming stock rose 2.8% after Morgan Stanley declared it a buy despite its recent underperformance. The bank also sees opportunities in its Barstool Sports and theScore businesses.

Warner Bros. Discovery – Warner Bros. Discovery shares fell 2.5% as investors continued to digest the news that the company would be shutting down its CNN+ service weeks after its launch.

Deere — The equipment maker’s stock fell 3.4% after Bank of America downgraded its stock to neutral. The bank said it remains cautious on ongoing supply chain issues and other macro trends related to the agribusiness and farm equipment space. Twitter, Coca-Cola, Warner Bros. Discovery and more

Jane Marczewski

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