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Container Store's 'retail funk', Apple Siri setback, Alcoa shines

Hot Stock Minute

Here is a look at some of the stocks the Yahoo Finance team are watching for you today.

The Container Store (TCS) shares fell in early trading. The specialty retail chain, which just went public in November, lowered its full-year earnings and revenue outlook after it posted its first same-store sales decline in four years. The company said it is facing what it calls a “retail funk,” where demand is shifting to high-ticket items such as housing and automobiles. Earnings and revenue missed estimates, even though its loss narrowed from a year ago and revenue rose 9%.

Alcoa (AA) shares rose before the bell after the aluminum producer swung to a profit in the second quarter. Earnings and revenue both topped estimates. The company benefited from a comeback in its primary metal businesses and strength in its engineered products.

AeroVironment (AVAV) shares are flying high in the pre-market. The drone maker raised its outlook for the year after it swung to a profit last quarter thanks to a surge in sales. Revenue rose nearly 36% from a year earlier, topping estimates. Earnings also beat expectations.

Apple (AAPL) is also grabbing headlines. A Chinese court upheld the validity of a patent held by a Shanghai-based company that claims Apple's voice-assistant Siri violates its patent. Apple said it will appeal, but the ruling clears the way for Zhizhen Network Technology's suit against Apple that it filed in 2012. The suit claims that Siri violated the patent for Zhizhen's chat application for its Little I Robot. A spokesperson for Zhizhen is quoted in The Wall Street Journal saying that they expect a verdict in that case in two or three months.