Check out which companies are making headlines before the bell:
Lowe’s – The home improvement retailer earned $1.05 per share for the third quarter, three cents a share above estimates. Revenue topped forecasts, and comparable-store sales were up 5.7 percent compared to the Thomson Reuters consensus of a 4.6 percent increase. Like rival Home Depot, Lowe’s benefited from extra sales related to the quarter’s hurricanes.
Hormel – The food company edged estimates by a penny a share, with quarterly profit of 42 cents per share. Revenue also came in above estimates and Hormel announced it would merge its grocery and specialty foods businesses.
Medtronic – The medical device maker earned an adjusted $1.07 per share for its latest quarter, nine cents a share above estimates. Revenue came in above forecasts, as well. The beat comes despite declines related to the sale of a unit to Cardinal Health, the quarter’s hurricanes, and the California wildfires.
DSW – The shoe retailer fell eight cents a share shy of consensus estimates, with adjusted quarterly profit of 45 cents per share. Revenue fell short of expectations and comparable-store sales posted an unexpected decline. DSW is among the companies saying its sales were negatively impacted by the quarter’s hurricanes.
Campbell Soup – The food company reported adjusted quarterly profit of 92 cents per share, five cents a share shy of estimates. Revenue also missed forecasts and Campbell said higher costs for logistics, transportation, and carrots impacted its bottom line.
Dollar Tree – The discount retailer earned $1.01 per share for the third quarter, 11 cents a share above estimates. Revenue and comparable-store sales also beat Street forecasts.
AT&T — The Justice Department sued AT&T to block its proposed $85.4 billion acquisition of Time Warner. The suit claims the deal would raise prices for consumers and would slow the transition to other distribution models. AT&T said the move was a “radical” departure from decades of antitrust regulation.
Intuit – Intuit reported adjusted quarterly profit of 11 cents per share, six cents a share above estimates. The financial software company’s revenue also above forecasts. The results were helped by more subscriptions for the company’s QuickBooks Online service, but the shares are being pressured by a forecast which was merely in line with analysts’ estimates.
Urban Outfitters – Urban Outfitters came in eight cents a share above estimates, with quarterly profit of 41 cents per share. The apparel retailer’s revenue beat estimates, as well. Urban Outfitters also gave investors a pleasant surprise with an unexpected increase in comparable-store sales.
Palo Alto Networks – Palo Alto reported adjusted quarterly profit of 74 cents per share, five cents a share above consensus estimates. Revenue also came in ahead of analysts’ forecasts. The cybersecurity services company is among those in its field that have seen increased business since the Equifax data breach and ransomware attacks.
Broadcom – Broadcom would make major changes to Qualcomm’s controversial patent licensing business if its bid to acquire its rival chip maker is successful, according to The Wall Street Journal. Broadcom has not made it clear, however, exactly how it would change that business.
Dish Network – The satellite TV provider’s customers are without CBS television stations, with the two sides unable to reach a new carriage agreement. Dish said CBS refused to extend the contract while talks continue — CBS accused Dish of punishing its subscribers rather than negotiate a fair deal.
BHP Billiton – The mining company and Brazilian partner Vale received a 150-day extension to negotiate a settlement of a $48 billion damage claim related to the 2015 Samarco mine disaster which killed 19 people.
21st Century Fox – Fox struck a $90 million dollar settlement of a shareholder lawsuit, stemming from the sexual harassment scandal at Fox News channel. The defendants – which included Fox officers and directors – did not admit wrongdoing in agreeing to the settlement.
Mellanox Technologies — Activist investor Starboard Value acquired a 10.7 percent stake in the high-speed computing company and urged it to explore a potential sale. Starboard said the company is spending too much on research and development and other expenses compared to its peers. Mellanox said it welcomed Starboard’s input.
Deere – Deere was upgraded to “outperform” from “neutral” at RW Baird, which cites stronger than expected demand for Deere’s heavy equipment.
Source: Investment Cnbc
Stocks making the biggest moves premarket: LOW, HRL, MDT, DSW, CPB, T & more