Check out which companies are making headlines before the bell:
Under Armour – The athletic footwear and apparel maker reported a quarterly loss of three cents per share, half of what analysts had expected, and revenue beat forecasts. Under Armour cut its full-year outlook below forecasts, however, and also announced a restructuring that will include job cuts.
Pfizer – The drugmaker came in one cent a share above estimates, with quarterly profit of 67 cents per share. Revenue came in below forecasts, however, as demand for its Enbrel and Prevnar drugs dropped. Pfizer did increase the midrange of its 2017 earnings forecast.
Archer Daniels Midland – The grain processor earned an adjusted 57 cents per share for its latest quarter, five cents above estimates. Revenue was well below forecasts, however, on weakness in the company’s oilseeds processing unit.
Pandora Media – The streaming music service lost 21 cents per share for its latest quarter, three cents a share smaller than anticipated. Revenue beat estimates on increased ad spending, but the company also cut its full-year forecast following the sale of its Ticketfly ticketing firm and as subscription revenue comes in below forecasts.
Texas Roadhouse – Texas Roadhouse matched estimates with quarterly profit of 53 cents per share, while the restaurant chain’s revenue was slightly above forecasts. Same-restaurant sales rose four percent, beating consensus estimates of a 3.3 percent increase.
AutoNation – AutoNation lost its spot in the S&P 500, pushed out by MetLife spinoff Brighthouse Financial. The MetLife U.S. retail business is set to start trading on its own next Monday. The automobile retailer’s stock will be moved to the S&P MidCap 400 index.
Honda – Honda beat analysts’ forecasts with its quarterly operating profit of $2.44 billion, as stronger Asian sales offset weakness in North America. The automaker also raised its full-year forecast on more favorable currency exchange rates.
Snap – Snap will not be eligible for inclusion in the S&P 500 following a new rule which takes effect today, barring companies with multiple share classes. The decision does not affect existing S&P 500 members with multiple shares classes like Alphabet and Berkshire Hathaway.
Sony – Sony’s profit nearly quadrupled in its fiscal first quarter compared to a year earlier, as it saw an overall recovery in its business and a particularly strong performance from its image sensor unit.
Pitney Bowes – The commerce technology provider earned an adjusted 33 cents per share for its latest quarter, three cents a share short of forecasts. Revenue missed expectations, as well, and the company also lowered the high end of its full-year forecast. The company said it is pleased with the potential it has created but has not yet fulfilled that potential.
Xerox – Xerox came in seven cents a share above estimates, with adjusted quarterly profit of 87 cents per share. Revenue was slightly short of forecasts, however, as the company transitions to a new product lineup.
BP – The oil giant earned $553 million for the second quarter, reversing a year-ago loss although its bottom line continues to be affected by costs related to the 2010 Gulf of Mexico oil spill.
Sprint – The wireless services provider earned five cents per share for its latest quarter, compared to consensus forecasts of a one cent loss. Revenue beat forecasts, while Sprint chalked up net additions of 61,000 wireless subscribers.
Source: Investment Cnbc
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