PREMARKET MOVES | Coca-Cola, Sherwin-Williams and J&J Climb; Universal Health, Rambus Slide

According to CNBC, several stocks posted notable premarket moves. Coca-Cola gained 2% after adjusted earnings of 97 cents per share beat the 93 cents expected by analysts polled by LSEG, while revenue of $13.38 billion topped the $13.16 billion estimate; the company also raised its full-year outlook. Sherwin-Williams rose nearly 6% after second-quarter adjusted earnings of $3.70 per share on revenue of $6.79 billion exceeded FactSet estimates of $3.52 and $6.6 billion, and it lifted its full-year earnings outlook. Johnson & Johnson advanced more than 2% after agreeing to pay a combined $5.5 billion to settle thousands of lawsuits alleging some of its talc products caused ovarian cancer. Cadence Design Systems gained 3% after posting second-quarter adjusted earnings of $2.11 per share, beating the LSEG consensus of $2.05, with revenue of $1.58 billion in line. Welltower climbed 4.5% after raising full-year guidance, projecting normalized funds from operations of $6.36 to $6.44 per share versus the $6.30 FactSet estimate. Happen, formerly LendingClub, advanced more than 6% after guiding full-year earnings of $1.80 to $1.90 per share, above the $1.74 consensus. Hilton Worldwide Holdings fell 2.7% after issuing third-quarter guidance of $2.28 to $2.34 per share, below the $2.43 consensus, despite beating on second-quarter results. Rambus slid more than 4% despite a second-quarter beat, reporting adjusted earnings of 77 cents per share on revenue of $207 million against expectations of 72 cents and $198 million. Universal Health Services dropped 3% after lowering full-year adjusted earnings guidance to $22.28 to $23.65 per share from $22.64 to $24.52. Cincinnati Financial dipped nearly 2% after operating earnings of $1.43 per share missed the $1.84 consensus and net premiums of $2.64 billion came in below the $2.66 billion expected.