Check out the companies making headlines before the bell:
Campbell Soup – Campbell said it would put its international and refrigerated foods businesses up for sale, following a review of its operations. The company also reported adjusted quarterly profit of 25 cents per share, one cent above estimates, but revenue fell below Street forecasts. It also gave a full-year pre-divestiture earnings forecast that also is lower than current consensus estimates.
Dollar General – The discount retailer beat estimates by three cents with quarterly profit of $1.52 per share, with revenue also beating forecasts. Dollar General posted a comparable store sales increase of 3.7 percent, better than the 2.8 percent consensus estimate of analysts surveyed by Thomson Reuters.
Dollar Tree – Dollar Tree matched Street forecasts with quarterly profit of $1.15 per share, with revenue essentially in line. The discount retailer did see comparable stores rise by 3.7 percent compared to a 3.1 percent consensus estimate.
Signet Jewelers – The jewelry retailer earned an adjusted 52 cents per share for the second quarter, beating the consensus estimate of 20 cents. Revenue was also well above forecasts, and the company posted a comparable store sales increase of 1.7 percent compared to an analyst forecast of a 4.5 percent decline. Separately, the company announced the departure of CFO Michele Santana in 2019.
Michaels – The arts and crafts retailer beat estimates by two cents with quarterly profit of 15 cents per share, though revenue fell very slightly below Street forecasts. Comparable store sales fell 0.4 percent, slightly worse than the flat quarter that analyst had been anticipating. Michaels is also forecasting current quarter earnings of 42 to 45 cents compared to a 51 cent consensus estimate.
Abercrombie & Fitch – The apparel retailer posted an unexpected profit of six cents per share, compared to analyst estimates of a loss of six cents per share. Revenue did fall below forecast, however, as did the clothing chain’s comparable store sales.
Salesforce.com – Salesforce reported adjusted quarterly profit of 53 cents per share, six cents above estimates. The cloud software company’s revenue also beat forecasts, but it also gave a weaker than expected profit outlook for the current quarter as it invests money to help boosts sales.
PVH – PVH earned an adjusted $2.18 per share for the second quarter, beating consensus forecasts by eight cents, and the apparel maker saw revenue beat estimates. The maker of Calvin Klein, Tommy Hilfiger, and other apparel brands also raised its profit forecast for the year, although its current quarter earnings guidance falls below estimates.
Guess – Guess beat estimates by four cents with adjusted quarterly profit of 36 cents per share, but the apparel maker’s revenue fell below Street forecasts. The company also said it was on track to end the year with all of its business units profitable.
Tempur Sealy – The mattress retailer accused former customer Mattress Firm of selling copycat products that are “strikingly similar” to itsTempur-Pedic brand, in a complained filed in federal court in Tampa, Florida. A long running supply deal between the two ended last year in a pricing dispute.
Tronc – Tronc said it would not comment on market rumors, following reports a buyer was interested in the media company. The “no comment” was issued during the company’s earnings conference call, following its report of a lower than expected loss and a raised earnings outlook for the full year. The stock had run up prior to the earnings report on those buyout rumors.
General Motors – GM suffered a setback in its plan to increase electric vehicle production in China, according to the Wall Street Journal. GM found that China-made batteries did not meet its performance and safety standards during testing.
Alphabet – The company’s Google unit continues to come under attack from President Trump, who said the search engine did not promote his State of the Union address. Google said it did, in fact, do so.
PayPal – PayPal was rated “buy” in new coverage at Berenberg, noting the payment services company’s double-sided platform serving both businesses and consumers as well as its wide product range.