Check out which companies are making headlines before the bell:
Goldman Sachs – Goldman reported adjusted quarterly profit of $5.68 per share compared to the $4.91 a share consensus estimate. Revenue also beat Wall Street forecasts. CEO Lloyd Blankfein noted the strong 2017 performance in the face of a “challenging” market-making environment.
Bank of America – The bank reported adjusted quarterly profit of 47 cents per share, 3 cents a share above estimates, Revenue fell below forecasts. Bank of America took a charge related to the new tax law but expects to benefit from lower rates going forward.
Tiffany – The luxury goods retailer said holiday season comparable-store sales rose by 5 percent compared to a year earlier, with overall sales up 8 percent. Tiffany attributes the increase to stronger demand for higher end jewelry. Tiffany did say it expects full-year 2018 earnings to be flat to slightly lower compared to 2017.
IBM – Barclays upgraded IBM to “overweight” from “underweight,” saying IBM’s long revenue decline may soon end and that the current mainframe cycle will allow additional time for IBM’s strategic moves to take hold.
Apple – The stock was downgraded to “neutral” from “buy” at Longbow Research, which sees iPhone shipments coming in below consensus for fiscal 2018.
Dollar General, Dollar Tree – Oppenheimer began coverage of both discount retailers with “outperform” ratings, citing attractive long-term growth prospects and a stronger lower-income consumer segment.
Ford Motor — The automaker issued 2018 financial guidance that fell short of expectations. Ford officials said higher input costs and currency volatility are among the factors weighing on the company’s projected results.
CSX – CSX reported adjusted quarterly profit of 64 cents per share, 8 cents a share above estimates. The railroad operator’s revenue was slightly shy of forecasts due to a drop in shipment volume. Its bottom line was helped by higher prices and better expense controls.
Boeing – Boeing formed a joint venture with Adient Aerospace to develop and manufacturer airplane seats. Each company is contributing $50 million to the project.
Juno Therapeutics – Juno is in talks to be acquired by drugmaker Celgene, according to The Wall Street Journal. People familiar with the matter told the paper a deal could be announced within weeks.
Pearson – The publishing company said its sales of U.S. higher education course materials fell 3 percent. That figure disappointed investors after the company had said in October that pressures in that segment were easing.
SandRidge Energy – SandRidge is planning to meet with its largest shareholder, investor Carl Icahn, to discuss his call to shake up the company’s board of directors. Icahn had said last month that he was considering a proxy contest.
Oracle – Oracle issued a security patch to fix flaws in Intel chips contained in some of the business software giant’s products.
Intercontinental Exchange – ICE will start another NYSE-branded market – named NYSE National – to be launched during the second quarter, according to a Securities and Exchange Commission (SEC) filing. The new market will only be a trading venture rather than a listing market.
Signet Jewelers – A U.S. judge overturned an arbitrator’s ruling that had allowed 70,000 women to take part in a sex discrimination case against Signet unit Sterling Jewelers. That group had not originally opted to join the suit.
Rio Tinto – Rio Tinto called for the dismissal of an SEC case against the mining giant. The suit had accused Rio of overstating the value of coal assets in Mozambique that it had bought in 2011.
Papa John’s – Papa John’s Chief Financial Officer Lance Tucker will leave the pizza chain in March to take the same position at restaurant operator Jack In The Box.
Sanderson Farms – The poultry producer said supplies of antibiotic-free chicken are exceeding demand, which could hit the profits of poultry processors like Sanderson and rival Tyson Foods.
Source: Investment Cnbc
Stocks making the biggest moves premarket: GS, BAC, TIF, AAPL, INTC, F & more