Check out which companies are making headlines before the bell:
Starz — The movie channel operator was informed by Lions Gate that the movie studio intends to explore a “mutually beneficial” combination of the two companies.
Clorox — The household products maker reported quarterly profit of $1.14 per share, 9 cents above estimates, with revenue very slightly below forecasts. Clorox benefited from higher prices, but was also hurt by a stronger dollar. The company also raised its full-year earnings outlook.
ConocoPhillips — The oil giant reported a larger-than-expected loss, further lowered its 2016 capital spending, and slashed its quarterly dividend to 25 cents from 74 cents.
L Brands — The Victoria’s Secret parent reported a 6 percent increase in fourth quarter same-store sales, raised its annual dividend by 20 percent to $2.40 per share, and declared a $2.00 per share special dividend.
Cigna — The health insurer beat estimates by 7 cents with adjusted quarterly profit of $1.87 per share, with revenue slightly above forecasts. The company, which is in the process of being acquired byAnthem, was helped by membership growth for its government-related health plans.
Dunkin’ Brands — The doughnut store chain earned an adjusted 52 cents per share for its latest quarter, 2 cents above estimates, while revenue was above estimates as well. Dunkin’ also increased its quarterly dividend by 13 percent to 30 cents per share.
Beazer Homes — The home builder reported an adjusted profit of 3 cents per share, compared to analyst forecasts for a 9 cents per share loss. Revenue was also well above estimates, on an increase in closings and higher average selling prices.
CBS — Sumner Redstone resigned as Executive Chairman, to be succeeded by CBS CEO Les Moonves. Redstone is also expected to be removed from his job as Executive Chairman of Viacom when that company’s board meets today.
Delta Air Lines — Chief Executive Officer Richard Anderson will retire on May 2, and take the role of Executive Chairman. Delta President Ed Bastian will take over as CEO.
GoPro — The high definition camera maker lost an adjusted 8 cents per share for its latest quarter, compared with analyst estimates for a breakeven performance. It also cut its financial forecast and said it would cut product of some of its entry level cameras.
Apple — Apple was ordered to pay VirnetX Holding $625 million in a patent case. A jury ruled that Apple had willfully infringed VirnetX’s internet security technology in its FaceTime and iMessage services.
Costco — Costco reported flat same-store sales for the month of January, with the U.S. showing a 1 percent increase for the warehouse retailer.
Yum Brands — Yum beat estimates by 2 cents with adjusted quarterly profit of 68 cents per share, although revenue came in slightly below forecasts. The restaurant chain did report a greater-than-expected 6 percent rise in same-store sales for its latest quarter.
Buffalo Wild Wings — Buffalo Wild Wings fell 16 cents short of estimates with quarterly profit of $1.32 per share, with revenue missing as well. The restaurant chain also gave lower than expected earnings guidance for 2016.
Allstate — Allstate reported quarterly profit of $1.60 per share, beating estimates of $1.34. The insurer’s revenue was roughly in line with estimates, although profits were down from a year earlier due to higher catastrophe and auto-related claims.
MetLife — MetLife missed estimates by 13 cents with adjusted quarterly profit of $1.23 per share, while revenue came in below estimates as well. The insurer said its results were impacted by lower investment income and a stronger US dollar.
Take-Two Interactive — The company reported adjusted quarterly profit of 89 cents per share, well above consensus estimates of 50 cents. The video game maker’s revenue was also well above analyst forecasts as demand for its venerable “Grand Theft Auto” franchise remained strong.
Harley-Davidson — Harley raised its quarterly dividend by 12.9 percent to 35 cents per share, and the motorcycle maker also approved a 20 million share stock buyback.
AstraZeneca — The drug maker said its financial performance would be weaker this year, as cheaper generic rivals hurt the performance of its Crestor cholesterol drug.
Credit Suisse — The bank posted its first full-year loss since 2008, stemming from weakness in its investment banking business.
Cisco Systems — Cisco bought privately held Jasper Technologies for $1.4 billion, its biggest takeover deal since 2013. Jasper is an “internet of things” company, with its technology connecting various devices to the internet.
[“source -cncb”]
