How I Got My Job At DSW!
Check out which companies are making headlines before the bell:
Campbell Soup The company best known for soup earned an adjusted $1.00 per share for its latest quarter, five cents a share above estimates. Revenue was also above forecasts. The company said it is optimistic about 2017 given improving trends in the U.S. and other factors.
Dr Pepper Snapple The beverage maker announced a deal to buy privately held Bai Brands for $1.7 billion, including a tax benefit of approximately $400 million. Bai is a maker of antioxidant-infused beverages.
KKR & Co. The private-equity firm is buying Japanese auto parts maker Calsonic from Nissan Motors and its partners for $4.5 billion. Reuters reports that KKR beat out rival private-equity firms Bain and MBK in the bidding.
Medtronic The medical equipment maker earned an adjusted $1.12 per share for its latest quarter, one cent a share above estimates. Revenue came in below forecasts. Medtronic also cut its full-year forecast, as customers delay purchases ahead of new products entering the marketplace.
DSW The shoe retailer came in two cents a share above estimates, with adjusted quarterly profit of 51 cents per share. Revenue was below forecasts, and a comparable-store sales decline of 2.0 percent was larger than the consensus estimate of a 0.6 percent drop. The company does say that better inventory control and tighter expense management will lead to better results going forward.
Palo Alto Networks Palo Alto reported adjusted quarterly profit of 55 cents per share, three cents a share above estimates. The cybersecurity company"s revenue was below Street forecasts, as was its current-quarter guidance. Its revenue growth rate was the slowest since it became a public company.
Boeing Boeing named Kevin McAllister as chief executive at its commercial aircraft unit, replacing Ray Conner. McAllister had been head of General Electric"s GE Aviation Services unit.
Jack In The Box Jack In The Box came in 15 cents a share ahead of estimates, with adjusted quarterly earnings of $1.03 per share. The restaurant chain"s revenue matched estimates, however its comparable-restaurant sales increase of 0.5 percent was below consensus estimates of a 1.6 percent rise.
AstraZeneca The drugmaker received Food and Drug Administration (FDA) approval to resume enrollment in trials for new cancer drugs. The trials had been put on hold because of cases of bleeding in some patients.
Novo Nordisk, Sanofi The two drug companies both received FDA approval for new combination treatments for diabetes. The competing treatments both stimulate insulin production in the pancreas.
Hormel Hormel earned 45 cents per share for its latest quarter, one cent a share below estimates. Revenue was essentially in line. The foodmaker did predict 2017 earnings that come in largely above analyst forecasts, however. Separately, Hormel sold the unit that runs its Farmer John and Saag"s Specialty Meats operations to privately held meat processor Smithfield Foods for $145 million in cash.
Caterpillar Caterpillar"s outlook was revised to "negative" from "stable" by Standard & Poor"s, because of a continuing slump in commodities prices and a glut in the heavy equipment market.
Nike The athletic footwear and apparel maker responded to President-elect Donald Trump"s pledge to withdraw from the Trans-Pacific Partnership on day one of his presidency, telling CNBC that it is committed to fair and free trade and will continue to advocate for policies and programs that create new jobs and drive economic growth. Nike is considered one of the companies that may be hurt by abandonment of TPP.
Source: http://www.cnbc.com/2016/11/22/early-movers-cpb-dps-kkr-mdt-dsw-panw-ba-jack-azn-more.html
