Early movers: NOK, AZO, A, TTWO, TOL, CSX, AZN, H, MGI & more
Check out which companies are making headlines before the bell:
Nokia (Helsinki Stock Exchange: NOKIA-FI) – The maker of communications software settled an ongoing patent dispute with Apple (NASDAQ: AAPL). The two sides also signed a business partnership agreement which would give it an immediate cash payment and ongoing revenue from Apple.
AutoZone (NYSE: AZO) – The auto parts retailer reported quarterly profit of $11.44 per share, short of the consensus $12 estimate. Revenue also fell short as comparable store sales fell 0.8 percent.
Agilent Technologies (NYSE: A) – Agilent beat estimates by 10 cents, with adjusted quarterly profit of 58 cents per share. The medical equipment and technology company also saw revenue come in above estimates, and also raised its full-year guidance as its chemical, energy, and pharmaceutical businesses saw strong growth.
Take-Two Interactive (NASDAQ: TTWO) – Take-Two said the launch of its "Red Dead Redemption 2" game would be delayed until next year. That announcement was made after the bell Monday, ahead of this morning's quarterly earnings report. That report showed fiscal fourth quarter earnings and revenue coming in well above forecasts, with the company cutting its full-year outlook on the "Red Dead" game delay.
Toll Brothers (NYSE: TOL) – Toll beat estimates by 10 cents with quarterly profit of 63 cents per share, while revenue also beat forecasts. Home deliveries and signed contracts were up strongly from a year earlier, although the average price of delivered homes was lower. The luxury home builder called the spring selling season its best in more than 10 years.
CSX (NASDAQ: CSX) – CSX shareholders are being urged by proxy adviser ISS to approve an $84 million payout related to the hiring of Hunter Harrison as CEO. Activist investor Mantle Ridge put up that amount to free Harrison from obligations to his previous company, Canadian Pacific Railway (Toronto Stock Exchange: CP-CA). Harrison has said he'll resign from CSX if shareholders don't approve the reimbursement.
AstraZeneca (London Stock Exchange: AZN-GB) – AstraZeneca's experimental asthma injection cut the need for patients to take oral steroids in a late-stage trial, but the drug maker also saw a setback when its diabetes drug Bydureon did not show a benefit in reducing heart risks.
Hyatt (NYSE: H) – Hyatt could see some pressure on news that funds associated with Goldman Sachs are selling a significant amount of the hotel operator's shares. Hyatt will not receive any proceeds from the sale.
MoneyGram (NASDAQ: MGI) – The money transfer service's pending acquisition by Alibaba's (NYSE: BABA) Ant Financial is close to garnering regulatory approval, according to a New York Post report.
Wingstop (NASDAQ: WING) – Wingstop was added to the "Conviction Buy" list at Goldman Sachs, with a price target for the restaurant chain's stock of $36 per share. Wingstop closed Monday at $29.65.
McKesson (NYSE: MCK) – JPMorgan Chase upgraded the wholesale drug distributor's shares to "overweight" from "neutral", pointing to its acquisition of Change Healthcare as a potential source of unlocked value.
DSW (NYSE: DSW) – The shoe retailer reported adjusted quarterly profit of 32 cents per share, 2 cents short of estimates, although revenue exceeded forecasts. DSW also saw comparable store sales fall by 3 percent, less than analysts had been forecasting.
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