Check out which companies are making headlines before the bell:
Tyson Foods — The poultry producer earned $1.15 per share for its latest quarter, well above estimates of 89 cents a share. It also raised its 2016 forecast and added 50 million shares to its stock buyback program.
Estee Lauder — The cosmetics maker beat estimates by 8 cents with quarterly profit of $1.19 per share, with revenue also beating forecasts. However, its fiscal 2016 forecast is below estimates, largely due to the negative impact of a stronger dollar.
Moody’s — The credit rating agency reported profit of $1.09 per share, beating estimates by 4 cents a share, with revenue also above forecasts. However, the company’s 2016 outlook falls below Street consensus, following what the company called “difficult” market conditions in 2015.
Coca-Cola — Susquehanna Financial upgraded the stock to “neutral” from “negative,” based on limited downside and the potential for merger and acquisition activity in the years ahead.
JPMorgan Chase, Goldman Sachs — UBS upgraded the stocks of both banks to “buy” from “neutral,” calling them early cycle plays in terms of eventual recovery from a slower economy.
Cameron International — The European Union cleared the acquisition of the equipment maker by Schlumberger, citing limited overlap in activities between Cameron and the oilfield services company.
Southwest Airlines —The airline reported an 11.1 percent January increase in revenue passenger miles compared to a year earlier.
Weyerhaeuser — The forest products company matched estimates with adjusted quarterly profit of 24 cents per share, with revenue slightly above forecasts. Weyerhaeuser made optimistic comments about 2016 based on the anticipated completion of its merger with Plum Creek Timber and other strategic moves.
News Corp. — The media company missed estimates by a penny with adjusted quarterly profit of 20 cents per share. Revenue was essentially in line, but News Corp.’s overall results were hurt by shrinking ad revenue and a stronger dollar.
Lions Gate — Lions Gate missed estimates by 4 cents with adjusted quarterly profit of 45 cents per share, and the movie studio’s revenue was well short of Street forecasts. The shortfall comes after the final “Hunger Games” movie did not do as well at the box office as expected.
LinkedIn — LinkedIn reported adjusted quarterly profit of 94 cents per share, 16 cents above estimates, and revenue also came in above projections. However, the business-oriented social network gave a weaker than expected forecast due to slower ad revenue growth, among other factors.
Symantec — Symantec came in 2 cents ahead of estimates with adjusted quarterly profit of 26 cents per share, and the security software maker’s revenue also beat estimates. Separately, the company announced a $500 million investment from private equity firm Silver Lake Partners, a cut of its regular dividend in half, and a $4 per share special dividend.
Deckers Outdoor — Deckers reported quarterly profit of $4.78 per share, 3 cents above estimates, but revenue was well short of forecasts. The footwear maker — known for its UGG brand — also lowered guidance for the current quarter and announced a series of cost cutting moves.
Tableau Software — Tableau more than doubled analyst estimates with adjusted quarterly profit of 33 cents per share, compared to forecasts of 16 cents. The software company’s revenue also beat forecasts, but the company unexpectedly cut its full-year guidance.
Ubiquiti Networks — Ubiquiti came in 7 cents ahead of estimates with adjusted quarterly profit of 58 cents per share, and revenue was also above street forecasts. The maker of wireless networking equipment also gave strong current quarter guidance, as wireless service providers increase their demand for Ubiquiti products.
Outerwall — Outerwall reported adjusted quarterly profit of $1.43 per share, swamping estimates of 64 cents, and revenue was also above forecasts. However, the parent of the Redbox DVD rental service gave full-year guidance substantially below analyst forecasts, due to an “accelerated decline” in DVD rentals.
Toyota — Toyota increased its full-year profit forecast, on better results in China and North America for the automaker.
ArcelorMittal — The company will raise $3 billion from a share issue to scale down its debt. The mining company has been suffering from the effects of declining commodity prices, and its stock has fallen 60 percent over the past year.
McGraw Hill Financial — McGraw Hill Financial plans to change its name to S&P Global, a move that the company’s board has approved and that will be the subject of a shareholder vote at the annual meeting on April 27.
Apple, Amazon.com, Alphabet, Verizon — These are among companies bidding for streaming rights to the National Football League’s Thursday night package, according to Variety.
[“source -cncb”]
