Check out which companies are making headlines before the bell:
Equifax — The maligned credit reporting company’s stock slipped 1.3 percent before the bell after it acknowledged that it faced another security issue earlier this year. On Sept. 7, Equifax reported a data breach that could affect 143 million U.S. consumers.
Tesla — Analysts at Jefferies initiated coverage of the stock with an “underperform” rating and a price target of $280 per share. That target represents a 27.3 percent downside potential from Monday’s close of $385. Jefferies said in a note it expects losses to continue until 2020, adding Tesla still faces challenges in scaling its business.
Gap — The retailer’s stock rose 2 percent in the premarket after analysts at Credit Suisse upgraded the stock to “neutral” from “underperform.” They also raised their price target on Gap to $30 a share from $23. In a note, Credit Suisse cited the closing of about 200 “low-quality” stores, “an attractive valuation,” and improvements in the company’s supply chain.
AutoZone — AutoZone shares jumped 4 percent in the premarket after the company reported quarterly results that beat expectations. The company posted adjusted earnings per share of $15.18 on sales of $3.5 billion. Analysts polled by Reuters expected AutoZone to post a profit of $15.11 per share on revenue of $3.49 billion.
Michael Kors — Oppenheimer upgraded the stock to “outperform” and raised its price target $55 from $45 a share. “Margins seem to be finding the bottom, while sentiment is extremely negative,” it said in a note.
Nike — The Dow component fell 1.5 percent before the bell after analysts at Susquehanna, lowered their rating to “neutral” from “positive.” The analysts cited concerns that Nike’s North America and Europe businesses are “decelerating as some key items, especially in the basketball category, have underperformed, leaving excess inventory in the marketplace.”
Walgreens Boots Alliance, CVS — Analysts at RBC initiated both stocks with “outperform” ratings. For Walgreens, RBC said the company is primed for accelerating earnings growth as it “appears ready to harvest the rewards” of its efforts from the past two years. For CVS, RBC said the company is “at an inflection point in its corporate life cycle, as well as in the life cycle of the industry.”
Kohl’s — Kohl’s said Tuesday it is offering free Amazon returns in 82 stores starting in October.
Source: Investment Cnbc
Early movers: EFX, TSLA, AZO, CVS, WBA, NKE & more