Check out the companies making headlines before the bell:
Kohl’s – The retailer beat Street forecasts by 14 cents a share, with adjusted quarterly profit of 64 cents per share. Revenue beat estimates, as well. Comparable-store sales were up 3.6 percent, better than the Thomson Reuters consensus estimate of a 2.7 percent gain. Kohl’s also raised its full-year earnings forecast.
Advance Auto Parts – The auto parts retailer reported adjusted quarterly profit of $2.10 per share, beating the $1.97 a share consensus estimate. Revenue was slightly short of forecasts and comparable-store sales fell 0.8 percent, but profit margins were improved compared to a year ago.
AutoZone – AutoZone earned $13.42 per share for its latest quarter, above the Street consensus of $12.94 a share. The auto parts retailer did see revenue fall slightly short of estimates, however, while same-store sales rose 0.6 percent.
General Motors, Ford Motor, Fiat Chrysler Automobiles – These and other auto stocks may get a boost from China’s announcement that it is slashing tariffs on cars and car parts. Parts makers like Lear, Johnson Controls, Borg Warner may also benefit.
Micron Technologies – Micron announced a $10 billion stock buyback, its biggest ever. That represents about 16 percent of the memory chip maker’s market value. Separately, Micron announced a joint production deal with Intel involving the world’s highest density flash memory chip.
Adobe Systems – Adobe
Toll Brothers – Toll Brothers reported quarterly profit of 72 cents per share, missing estimates by 4 cents a share. The luxury home builder’s revenue came in above forecasts. Profit was more than 17 percent above year-ago levels, with strong demand in spite of higher mortgage rates.
Pure Storage – The company lost an adjusted 7 cents per share for its latest quarter, 5 cents a share smaller than Wall Street had anticipated. The provider of flash-based storage solutions saw revenue come in above estimates. The company also gave current-quarter revenue guidance in line with current forecasts.
Sony – Sony will pay $2.3 billion for a controlling stake in music publishing giant EMI. The deal grows Sony’s music catalog to more than two million songs, the world’s biggest.
Boeing – Boeing workers at its 787 Dreamliner production facility in South Carolina will vote on union representation later this month, after the National Labor Relations Board ruled that a vote could proceed.
Intercontinental Exchange – The New York Stock Exchange parent named NYSE chief operating officer Stacey Cunningham to succeed Thomas Farley as president, the first female leader in NYSE history. The change will be effective Friday.
Anheuser-Busch InBev – The beer brewer was upgraded to “sector perform” from “underperform” at RBC Capital Markets, which cited several factors including valuation.
Macy’s – The retailer’s stock was upgraded to “positive” from “neutral” at Susquehanna Financial, saying Macy’s has initiatives in place that will drive comparable store sales higher.