Early movers: PFE, KORS, ADM, DOW, GOOG, MAT, FIT, TWTR & more

Traders work on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Pfizer — The drug maker earned an adjusted 53 cents per share for the fourth quarter, 1 cent above estimates, with revenue also beating forecasts. Pfizer was helped by demand for its pneumonia vaccine and its recent acquisition of Hospira. However, Pfizer did forecast full-year 2016 earnings that are slightly below Street forecasts.

Michael Kors — The luxury goods maker beat estimates by 13 cents with adjusted quarterly profit of $1.59 per share, and revenue also came in above forecasts. Kors was helped by particular strength in accessories and footwear.

Archer Daniels Midland — The grain processor missed estimates by 3 cents with adjusted quarterly profit of 61 cents per share, and revenue was well short of forecasts. The company cited adverse market conditions that impacted many of its businesses, and said headwinds were likely to persist. However, ADM did raise its quarterly dividend to 30 cents per share from 28 cents.

Dow Chemical — The chemical maker, which is in the midst of merging with DuPont, earned an adjusted 93 cents per share for the fourth quarter, 23 cents above estimates, and revenue also was above forecasts.

Sirius XM — The satellite radio operator matched estimates with earnings of 3 cents per share for its latest quarter, and revenue was slightly above forecasts. However, Sirius did predict a slowing in subscriber growth this year to its slowest since at least 2013.

Alphabet — The Google parent reported adjusted quarterly profit of $8.67 per share, 57 cents above estimates, with revenue also beating forecasts. The core Google internet business saw operating income rise 23 percent for the year compared to 2014, and an after-hours rally propelled Alphabet past Apple as the world’s most valuable company.

Mattel — The toy maker beat estimates by 6 cents with adjusted quarterly profit of 67 cents per share, and revenue also came in above analyst forecasts. Mattel’s bottom line was helped by its first quarterly sales increase in more than two years, helped by renewed popularity for Barbie dolls and Hot Wheels toys.

Fitbit — Oppenheimer initiated coverage on the wearable fitness products maker with an “outperform” rating, noting Fitbit’s prominent position in a market Oppenheimer feels will grow rapidly in the future.

Twitter — Twitter was downgraded to “sell” from “hold” at Stifel, which said Twitter has never developed a sustainable business model and may never achieve that goal.

Mallinckrodt — The biopharmaceutical company reported adjusted quarterly profit of $2.09 per share, well above estimates of $1.78. Revenue also beat forecasts, and the company raised its fiscal 2016 earnings guidance above current Street consensus. Mallinckrodt’s upbeat performance was led by a 45 percent sales increase for its “Exceptional Specialty Brands” segment.

Aflac — Aflac reported adjusted quarterly profit of $1.56 per share, 9 cents above estimates, while revenue came in ahead of estimates as well. The insurance company was able to beat forecasts despite the negative impact of a weaker yen, which hurt Aflac’s prominent Japan business.

Anadarko Petroleum — The energy producer lost an adjusted 57 cents per share, smaller than the consensus estimate of a $1.08 loss. Revenue was very slightly below forecasts as the company dealt with lower oil prices, and it said it expected to cut 2016 capital spending nearly in half compared to 2015.

Rent-A-Center — The company beat estimates by 2 cents with adjusted quarterly profit of 54 cents per share, though revenue missed the mark. The rent-to-own company also predicted a 2016 same-store sales decline of one to 3 percent.

BP — BP reported its biggest annual loss in more than 20 years for 2015, and plans to cut 7,000 jobs by 2017. That represents about 9 percent of its workforce, as it tries to deal with the ongoing decline in oil prices.

Sanofi — Sanofi launched an effort to develop a vaccine to combat the fast-growing Zika virus. The project will be undertaken by the drug maker’s Sanofi Pasteur vaccines division.

UBS — The bank reported earnings that topped analyst forecasts, but the shares are under pressure after the bank reported an unexpected outflow from its wealth management business.

Take-Two Interactive — The video game maker was hit with a copyright lawsuit by tattoo designer Solid Oak Sketches. The dispute involves the use of tattoos that are worn by NBA stars LeBron James and Kobe Bryant in Take-Two’s NBA 2K16 video game.

21st Century Fox — Fox is aiming for $250 million in cost cuts over the next fiscal year, according to the Wall Street Journal. The paper said the cuts would come primarily through buyouts, with workers in the TV and movie studio groups notified on Monday.

[“source -cncb”]