Check out which companies are making headlines before the bell:
Boeing – Boeing’s quarterly profit came in six cents ahead of estimates at $2.72 per share, while revenue also beat forecasts. The jet maker had stronger than expected cash flow, and also raised its full year forecast due to a lower than expected tax rate.
Coca-Cola – The beverage giant reported adjusted quarterly profit of 50 cents per share, one cent above forecast, and revenue also beat estimates. Coke’s organic revenue growth also beat consensus, and the company said case unit volume was able to stay flat despite challenges in certain markets.
Visa – The credit card issuer reported quarterly profit of 90 cents per share, five cents above estimates, with revenue also above forecasts. More customers made payments using the Visa network, and results were also helped by the company’s acquisition of Visa Europe.
Northrop Grumman – The defense contractor reported quarterly profit of $3.68 per share, easily exceeding estimates of $2.92. Revenue beat forecasts as well, and the company increased its full-year outlook as well. Northrop Grumman’s were helped by higher demand for its manned aircraft, among other items.
Anthem – Anthem beat estimates by 23 cents with adjusted quarterly profit of $2.65 per share. Revenue beat forecasts, and the company forecast full-year earnings that exceed current Street consensus. The company was helped by higher premiums and an increase in membership. Separately, Anthem announced the acquisition of Medicare Advantage plan provider America’s 1st Choice. The health insurer did not disclose financial details of the transaction.
Carlyle Group – The private equity firm announced that co-CEOs David Rubenstein and William Conway will step down in January and move to new roles as co-executive chairmen.
Walgreens Boots Alliance – The drugstore chain’s earnings came in ten cents above estimates at an adjusted $1.31 per share, while revenue beat forecasts as well. Overall profit did fall from a year ago, mostly due to the more than $300 million fee it paid to Rite Aid (RAD) after their merger deal was abandoned.
AT&T – AT&T reported adjusted quarterly profit of 74 cents per share, missing estimates by one cent. Revenue was also below forecasts as the company lost video subscribers and fewer wireless subscribers upgraded devices as they waited for Apple’s new phones to launch.
Chipotle Mexican Grill – Chipotle fell 30 cents shy of consensus forecasts with adjusted quarterly profit of $1.33 per share, while the restaurant chain’s revenue and comparable store sales also missed estimates. CEO Steve Ells said the company planned to slow down new restaurant openings for 12 to 18 months so it can “get the fundamentals right”.
Express Scripts – Express Scripts matched forecasts with adjusted quarterly profit of $1.90 per share, with the pharmacy benefits manager’s revenue falling short of estimates. However, Express Scripts did raise its full-year 2017 guidance as well as upping its 2018 retention rate forecast. Separately, the company announced the departure of Chief Financial Officer Eric Slusser.
Twitter – Twitter announced new ad transparency measures, including the addition of labels to election-related ads.
Texas Instruments – Texas Instruments beat estimates by 12 cents with adjusted quarterly profit of $1.24 per share, with the chipmaker’s revenue beating forecasts as well. Texas Instruments is being helped by a jump in demand for automotive and industrial use chips.
Advanced Micro Devices – AMD reported adjusted quarterly profit of 10 cents per share, two cents above estimates, while the semiconductor maker’s revenue also came in above consensus. However, AMD also forecast a drop in revenue for the current quarter, which would break a six-quarter streak of revenue increases.
Juniper Networks – Juniper matched Street forecasts with adjusted quarterly profit of 55 cents per share, and the networking equipment maker also so revenue match estimates. However, Juniper gave weaker than expected current quarter guidance, and said it had begun a “realignment” of its workforce.
Regal Entertainment – Regal came in two cents above estimates with adjusted quarterly profit of seven cents per share, and the movie theater operator also saw revenue beat forecasts. The company said it was pleased with the quarter given a “challenging” third quarter box office environment.
Apple – Apple acquired privately held PowerbyProxi, a wireless charging company based on New Zealand. Neither company would provide specific details about the transaction.
T-Mobile US, Sprint – T-Mobile and Sprint are both preparing special board committees to evaluate any merger deal between the two wireless carriers, according to Reuters.
3M – 3M was upgraded to “neutral” from “sell” by Goldman Sachs, following 3M’s best one-day gain in more than eight years. Goldman said it thinks valuation remains high, but said the company is seeing strong organic growth and that it has an underlevered balance sheet.
iRobot – iRobot reported quarterly profit of 69 cents per share, well above the consensus estimate of 47 cents. Revenue for the maker of the Roomba robotic vacuum cleaner also came in above forecasts, and the company also gave an upbeat forecast based on positive momentum in the US, as well as the EMEA (Europe, Middle East, and Africa) markets.
Source: Investment Cnbc
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