Check out which companies are making headlines before the bell:
Oracle — The business software giant reported adjusted quarterly profit of 62 cents per share, two cents a share above estimates. Revenue also came in above forecasts. Oracle’s results were helped by a successful ramping up of its cloud-based business, however the stock is being pressured by a weaker-than-expected current-quarter forecast.
American Airlines, United Continental, Southwest Airlines – JPMorgan Chase downgraded American and United to “neutral,” while upgrading Southwest to “overweight.” The two downgrades are based on American and United’s prospects given domestic pricing weakness and higher fuel costs, but JPMorgan also said Southwest’s valuation is attractive at current levels.
Equifax – Democratic senators have introduced a bill that would stop credit reporting agencies from charging consumers for freezing credit file access, in the wake of the massive Equifax data breach.
Phillips 66 – Phillips 66 chartered a Marshall Islands-flagged ship to help meet fuel shortages resulting from Hurricanes Harvey and Irma. The energy producer took advantage of a temporary waiver of the Jones Act, which ordinarily requires the use of U.S.-flagged ships for transportation between U.S. coasts.
Macy’s – Macy’s will hire about 80,000 seasonal workers for the holidays, about 3,000 fewer than the retailer hired for the 2016 holiday season.
Alphabet – Alphabet may invest $1 billion in ride-sharing service Lyft, according to The Wall Street Journal. Separately, the Google parent responded to a gender discrimination lawsuit, saying it was reviewing the suit but disagrees with its allegations. The lawsuit had accused the company of discriminating against women in the areas of pay and promotions.
Carnival – The cruise line operator was downgraded to “neutral” from “outperform” at Credit Suisse, citing an uncertain outlook amid increasing threats to demand for cruises.
Henry Schein – The stock was upgraded to “overweight” from “neutral” at Piper Jaffray, which said that it thinks the threat of potential competition from Amazon is overdone. Henry Schein is a major provider of health care products and services to medical, dental, and veterinary offices.
Prologis – Prologis said its Florida properties had suffered no significant damage from Hurricane Irma. The real estate developer’s statement follows a similar declaration from home builder Lennar on Thursday.
Genworth Financial – Genworth received approval from Virginia insurance officials to sell its insurance companies based in that state to China Oceanwide Holdings.
First Solar – The solar company’s stock was upgraded to “buy” from “hold” at Deutsche Bank, which said its checks indicate that demand for solar modules is rising in the U.S. market and that prices are being driven higher.
Celgene – The drugmaker’s stock was rated a “top pick” in new coverage at RBC Capital with a $176 price target, with RBC saying Celgene’s growth prospects are being substantially undervalued relative to its peers.
Constellation Brands, Monster Beverage – Both companies are rated “outperform” in new coverage of the beverage industry at Macquarie Research. Macquarie said both companies own what it calls “passion brands” that have a long runway for growth.
Source: Investment Cnbc
Early movers: ORCL, AAL, UAL, LUV, EFX, PSX, M, GOOGL, CCL & more