Check out which companies are making headlines before the bell:
Mondelez – CEO Irene Rosenfeld is stepping down from that job in November, to be succeeded by McCain Foods CEO Dirk Van de Put. Rosenfeld will remain as chair until March 31, 2018. Separately, Mondelez reported quarterly profit of 48 cents per share, beating estimates by three cents a share.
Apple – Apple posted quarterly profit of $1.67 per share, ten cents a share above estimates. Revenue also topped consensus forecasts. It also gave a current-quarter revenue outlook above current Street estimates, helping to send shares to an all-time high in after-hours trading.
Wal-Mart – Oppenheimer initiated coverage on the retailer with an “outperform” rating, saying the company is well-positioned for sales growth and profit recovery.
Cardinal Health – The pharmaceutical distributor reported adjusted quarterly profit of $1.31 per share, beating estimates by seven cents a share. Revenue also beat forecasts. The company noted a “dynamic” period in the health-care industry which presented challenges, but said it took important steps to strengthen its market position.
Garmin – The GPS device maker came in seven cents a share above estimates, with adjusted quarterly profit of 88 cents per share. Revenue also exceeded forecasts. Garmin saw strength in its fitness products, which more than offset weakness in automotive navigation offerings.
AutoNation – The car retailer reported earnings of 86 cents per share for its latest quarter, 11 cents a share below estimates. Revenue also missed forecasts amid overall slumping auto sales.
FireEye – FireEye reported an adjusted quarterly loss of four cents per share, smaller than the 12 cents a share predicted by Wall Street analysts. The cybersecurity company saw its revenue beat forecasts, and it also raised its full-year earnings and revenue guidance as its shift to a subscription model gains momentum.
Generac – The maker of power generators for homes and businesses earned an adjusted 69 cents per share for its latest quarter, five cents a share above estimates. Revenue beat forecasts, as well. Generac said shipments of home standby generators were particularly strong during the quarter.
Humana – The health insurer earned an adjusted $3.49 per share for its latest quarter, beating consensus forecasts of $3.08 a share. It also raised its full-year forecast to an adjusted $11.50 per share, compared to the consensus forecast of $11.15, as its Medicare Advantage plans perform well.
Illumina – Illumina came in 13 cents a share above estimates, with adjusted quarterly profit of 82 cents per share. Revenue for the DNA sequencing company also came in above forecasts. Illumina increased its full year forecast, as well, based in part on increased interest in its NovaSeq sequencing technology platform.
Costco – Costco announced the death of its co-founder and chairman Jeff Brotman. Brotman and former CEO Jim Sinegal had started the warehouse retailer in 1983.
AMC Entertainment – AMC forecast a second quarter loss of $1.34 to $1.36 per share, much larger than the consensus forecast of a three cents per share loss. The movie theater chain is expecting revenue of about $1.2 billion compared to estimates of $1.246 billion in what the company is now calling a “very challenging” quarter. It is planning various changes in pricing and staffing to improve results.
Rio Tinto – Rio Tinto reported its first-half profits more than doubled, and the mining company accompanied the announcement with a record dividend and an additional $1 billion stock buyback.
Anthem – Anthem is cutting its Obamacare coverage in 16 of the 19 California regions where it offered plans this year. The health insurer cited uncertainty over whether the Trump administration would continue paying Affordable Care Act subsidies.
Jacobs Engineering — Jacobs struck a deal to buy Colorado-based engineering services firm CH2M for $2.85 billion in cash and stock. The transaction will help Jacobs garner more infrastructure and government-related business.
Herbalife – Herbalife raised its earnings outlook for the year, but lowered the midpoints of its revenue outlook. The nutritional products company reported adjusted second quarter profit of $1.51 per share, beating the $1.12 consensus estimate, though revenue came in below forecasts.
Source: Investment Cnbc
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