Check out the companies making headlines before the bell:
Nvidia — Nvidia reported adjusted quarterly profit of $2.05 per share, well above the consensus estimate of $1.47 a share. The chipmaker’s revenue also comfortably topped Wall Street’s forecasts, with gaming revenue jumping 68 percent, and Nvidia also gave an upbeat current quarter forecast. The company’s data center business, however, did see results that were shy of Street expectations.
Dropbox – Dropbox came in 3 cents a share above estimates, with adjusted quarterly profit of 8 cents per share. The file-hosting company seeing revenue score a beat, as well. Dropbox reported total paying users of 11.5 million paying users, with better than expected revenue per user.
Yelp – Yelp lost 3 cents per share for its latest quarter, smaller than the 5 cent a share loss that Wall Street analysts had expected. The review website’s revenue also topped forecasts, thanks to strength in Yelp’s advertising business.
News Corp. – News Corp. matched Wall Street forecasts with adjustedquarterly profit of 6 cents per share, with the media company’s revenue beating estimates. Revenue was up 5.8 percent over the prior year, helped by improvements in News Corp.’s digital real estate operation.
Thomson Reuters – The financial information provider beat estimates by a penny a share, with adjusted quarterly profit of 28 cents per share. Revenue also beating forecasts. Thomson Reuters also announced a new $500 million stock buyback.
Redfin – Redfin matched Street forecasts with a quarterly loss of 44 cents per share, with revenue topping estimates. However, the online real estate brokerage’s shares are being pressured by weaker-than-expected gross margins.
Symantec – Symantec said its annual report may be delayed depending on the outcome of an internal investigation of unspecified financial issues. The maker of cybersecurity software said the probe is still in its early stages. Symantec also issued a weaker than expected forecast for the full year, although it did top estimates on both the top and bottom lines for its fiscal fourth quarter.
ArcelorMittal – ArcelorMittal gave an upbeat outlook for 2018 after a significant increase in steel prices and a jump in iron ore shipments led to a better than expected first quarter. The positive report from the world’s largest steelmaker could help shares of rivals like U.S. Steel and AK Steel.
AstraZeneca – The drugmaker’s treatment for moderate to severe chronic obstructive pulmonary disease failed to meet its goals in a phase III study.
Wynn Resorts – Wynn sent an open letter to shareholders critical of its biggest shareholder, Elaine Wynn, who is leading what she calls a “Restore Wynn” campaign. The letter said Elaine Wynn was part of the “Old Wynn” whose culture needs to change, and that the campaign demonstrates an insensitivity to the needs of the casino operator.
Tyson Foods – Tyson was rated “outperform” in new coverage at Bernstein, which said the beef and poultry producer should hold up better than other U.S. food companies given its protein-centric portfolio and exposure to the foodservice channel.
Verizon – Verizon was upgraded to “overweight” from “neutral” at J.P. Morgan Securities after the firm met with CEO Lowell McAdam Thursday. It said Verizon was on stable footing and the opportunities in next-generation 5G technology for Verizon will become apparent over the next few months.
Trade Desk – The provider of programmatic advertising technology reported quarterly profit of 34 cents per share, well above the consensus estimate of 10 cents a share. Revenue also exceeded forecasts, and the company said its investments in technology infrastructure and other areas should help drive its next wave of growth.
Kohl’s – Credit Suisse downgraded the retailer’s stock to “neutral” from “outperform,” noting that cold weather impacted first quarter results for the industry in general and that momentum may be slowed despite the firm’s belief in the company’s sales initiatives.
Be the first to comment