Here’s a rundown of companies making news before the bell:
Constellation Brands – The wine, beer, and spirits manufacturer notched adjusted quarterly earnings at $2.21 each share, toppling what the majority of analysts estimated at $2.04 each share. Its revenue also surpassed what Wall Street predicted.
Nike – Nike turned up a 62 cents each share earnings this quarter, which is 4 cents per share behind the consensus estimate. Its revenue, though, beats Wall Street estimates. The sports footwear producers bottom line was affected by more substantial expenditure on marketing campaigns and launches of new merchandise.
Apple – Jony Ive, Apple’s chief design officer, is moving out of the firm to build his independent design company. Ive has been significant to Apple since 1992 as he helped in designing essential products such as the iPhone and iMac.
Boeing – Boeing is looking to accomplish all 737 MAX-connected repairments by September, said sources to CNBC. This attempt includes a fix for the recently-discovered issue with its software which the company revealed on Wednesday.
Banks (Citigroup, JPMorgan Chase, Wells Fargo, Bank of America) – These banks and few others may get some boost this day on reports that they have passed recent stress tests from Fed and did not obtain any objections in capital plans. However, Credit Suisse got what has been dubbed as a “conditional non-objection” in its capital distribution plan, a status lying in the center of the pass and fail mark based on specific weaknesses. Deutsche Bank of Germany became one of the biggest winners on stocks in early trading after the news that it passed Fed’s tests.
United Continental – Effective this day, the airline is having its name changed to United Airlines Holdings, removing its reference from Continental Airlines, a company United acquired in 2010.
Procter & Gamble – P&G was lifted at Goldman Sachs to “neutral” to “buy” following anticipations of profit growth and stronger margins.
Biogen – Biogen was brought down to “neutral” from the previous “overweight” status at Piper Jaffray, that implies pressures in the drug producer’s several sclerosis business charters.
Live Nation Entertainment – The rating of live event organizer was lowered from “neutral” to “sell” in Citi, that affirms the company’s stable functioning performance and growth opportunities but deems that investors are turning over-willing to pay a premium for advancement.
AutoZone – The auto parts retailer rating was improved from “perform” to “outperform” by Oppenheimer, citing the possibility of consistent commercial expansion in sales.
Wingstop, Darden – The ratings of the two restaurant operators were lowered to from “overweight” to “equal-weight” by Stephens, an action the firm dubs as “reluctantly downgrading quality” due to present valuations.