Early movers: SPLS, SHLD, SIG, PPG, ELF & more
Check out which companies are making headlines before the bell:
Staples (NASDAQ: SPLS) — The office supplies retailer earned an adjusted 25 cents per share for its latest quarter, a penny a share below estimates. Sales also fell short of forecasts. North American comparable-store sales fell only 1 percent, however, compared to the Thomson Reuters consensus estimate of a 2.7 percent drop.
Sears (NASDAQ: SHLD) — Sears reported a quarterly loss of $1.28 per share, smaller than the $2.85 a share consensus estimate. The retailer reported better-than-expected revenue, and its same-store sales decline of 10.3 percent was smaller than the Thomson Reuters consensus estimate of a 12.1 percent drop. Sears also completed the sale of its Craftsman brand to Stanley Black & Decker (NYSE: SWK).
Signet Jewelers (NYSE: SIG) — The parent of the Zales, Kay, and Jared jewelry chains reported adjusted quarterly profit of $4.03 per share, 3 cents a share above estimates. Revenue was below estimates, though same-store sales declined slightly less than expected. Signet also gave a weaker-than-expected full-year forecast, as it continues to feel the impact of a challenging retail environment and weaker mall traffic.
PPG Industries (NYSE: PPG) — PPG's bid to buy Dutch paints and chemicals rival Akzo Nobel was rejected. Akzo said the unsolicited $22.1 billion cash and stock offer undervalues the company and isn't in the best interests of shareholders.
e.l.f Beauty (NYSE: ELF) — The company reported adjusted quarterly profit of 19 cents per share, beating estimates by 5 cents a share. The cosmetics maker saw revenue exceed estimates, as well. The company also gave a stronger-than-expected full-year outlook for both sales and earnings.
Camping World (NYSE: CWH) — Camping World beat estimates by 5 cents a share, with adjusted quarterly profit of 14 cents per share. The recreational vehicle maker did see revenue come in below forecasts. CEO Marcus Lemonis, also host of CNBC's " The Profit ," said Camping World saw strong growth in the higher-margin portions of the business and is also doing well in attracting younger consumers and first-time buyers.
Bankrate (NYSE: RATE) — Bankrate missed estimates by 3 cents a share, with quarterly profit of 16 cents per share. The financial information provider's revenue also fell short.
Ericsson (Stockholmsborsen: ERIC.B-SE) — The Swedish company was upgraded to "buy" from "sell" at Goldman Sachs, stemming from optimism over the mobile equipment company's appearance at the recent Mobile World Congress as well as improving capital expenditure trends.
Celgene (NASDAQ: CELG), Regeneron Pharmaceuticals (NASDAQ: REGN), Vertex Pharmaceuticals (NASDAQ: VRTX) — These three stocks are rated "buy" in a new report on biotech and drug companies at UBS. The firm rates Amgen (NASDAQ: AMGN) and Gilead Sciences (NASDAQ: GILD) at "neutral," while calling Biogen (NASDAQ: BIIB) a "sell." UBS bases its optimism for the buy-rated stocks primarily on their drug pipelines.
Planet Fitness (NYSE: PLNT) — Planet Fitness announced a secondary stock offering of 15 million common shares, being sold by existing shareholders in the fitness chain.
Party City (NYSE: PRTY) — The party supplies retailer earned 71 cents per share for its latest quarter, 3 cents a share below estimates. Revenue also fell below forecasts, with Party City noting an unfavorable calendar shift that impacted Halloween sales. The company also projected full-year earnings that fall largely below Street estimates.
