Check out the companies making headlines before the bell:
News Corp. – News Corp. reported adjusted quarterly profit of 8 cents per share, two cents above estimates. The Wall Street Journal publisher also saw revenue top forecasts, thanks to growth in real estate listings, book publishing, and subscription video services.
Tesla – Tesla’s board of directors will meet with financial advisors next week to discuss CEO Elon Musk’s proposal to take the company private, according to sources. Musk had tweeted earlier this week that he was considering taking the automaker private at $420 per share.
Dropbox – Dropbox beat estimates by 5 cents a share, with adjusted quarterly profit of 11 cents per share, with the file storage company’s revenue also topping forecasts. The increase came on the strength of a 20 percent increase in paying customers to 11.9 million, more than analysts had anticipated.
Campbell Soup – J.P. Morgan Securities downgraded the stock to “underweight” from “neutral.” The firm said that although a sale is the best option for Campbell, it thinks that outcome is unlikely. JPM adds that even if a sale occurs, it questions how much of a premium an investor would be willing to pay.
Lions Gate Entertainment – Lions Gate lost 4 cents per share for its second quarter, smaller than the 7 cents a share loss anticipated by Wall Street analysts. The entertainment company saw media networks revenue increase by 3 percent, while TV production saw a seven percent increase. However, motion picture revenue fell by 41 percent.
TrueCar – TrueCar reported adjusted quarterly profit of 4 cents per share, matching Wall Street estimates. The car pricing service’s revenue was also in line with forecasts. The company gave a full-year revenue outlook range that fell largely above analysts’ estimates.
Stitch Fix – The personal styling company’s stock was rated “buy” in new coverage at SunTrust, which calls Stitch Fix a disruptor that is in position to gain more attention from investors.
Overstock.com – Overstock shares are getting a boost on news that Hong Kong private-equity firm GSR capital is buying shares in the online retailer, as well as investing in its blockchain subsidiary tZero.
Qualcomm– Qualcomm will pay about $93 million to settle an antitrust case in Taiwan, in addition to agreeing to invest $700 million in Taiwan over the next five years. Those terms replace a $778 million fine imposed last year in a dispute over the chip maker’s patent licensing terms.
Microchip Technology – Microchip reported adjusted quarterly profit of $1.61 per share, 13 cents a share above estimates. The chipmaker’s revenue also top Wall Street forecasts and it raised its quarterly dividend to 36.4 cents per share from 36.3 cents.
Symantec – Symantec filed to delay its quarterly report because the cybersecurity software maker has not yet completed a previously announced internal investigation of its accounting practices.
The Trade Desk – The company earned an adjusted 60 cents per share for its latest quarter, beating estimates by 16 cents. The programmatic advertising technology company also reported revenue above Street forecast as it signed up more large advertisers for its data platform.
Intel, Advanced Micro Devices – Goldman Sachs swapped ratings for the two chip makers, downgrading Intel to “sell” from “neutral,” while upgrading AMD to “neutral” from “sell.” Goldman said a delay in new Intel products will give AMD the chance to gain market share in several categories.
Tiffany – Oppenheimer downgraded the luxury goods retailer to “perform” from “outperform” in what it calls a “strategic” move following a 55 percent run-up over the past year. Oppenheimer thinks Tiffany may face currency headwinds, although it still regards Tiffany’s long-term prospects favorably.
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