Early movers: YUM, DISH, AET, TEVA, REGN, TSLA, FIT, WYN, SQ & more
Check out which companies are making headlines before the bell:
Yum Brands (NYSE: YUM) – The restaurant operator reported adjusted quarterly profit of 68 cents per share, seven cents a share above estimates. Revenue also beat forecasts. Sales were higher at Taco Bell and KFC, although they fell at Pizza Hut. Worldwide same-store sales were slightly above forecasts.
Dish Network (NASDAQ: DISH) – The satellite TV provider earned an adjusted 69 cents per share, six cents a share below estimates. Revenue missed expectations, but its net subscriber losses were smaller than analysts had anticipated.
Aetna (NYSE: AET) – The insurance company scored a sizable beat, earning an adjusted $3.42 per share for the second quarter compared to the consensus estimate of $2.35 a share. Revenue also topped forecasts, with the company benefiting from strong performance from its core businesses, as well as cost controls.
Teva Pharmaceuticals (NYSE: TEVA) – The drugmaker fell four cents a share short of estimates, with adjusted quarterly profit of $1.02 per share. Revenue fell short of expectations, as well. Teva cites weaker-than-expected performance in its U.S. generics business, among other factors.
Regeneron (NASDAQ: REGN) – Regeneron earned an adjusted $4.17 per share for its latest quarter, a full dollar a share above estimates. Revenue exceeded forecasts, as well. The drugmaker's profits were boosted by strong sales of its eye treatment Eyelea.
Tesla (NASDAQ: TSLA) - The electric car maker reported an adjusted quarterly loss of $1.33 per share, smaller than the loss of $1.82 a share that analysts were anticipating. Revenue beat consensus estimates, and the company said it had more than 1,800 daily reservations for its new Model 3. Tesla did see negative cash flow of $1.1 billion during the quarter, with a little more than $3 billion in cash still on hand at the end of the quarter.
Fitbit (NYSE: FIT) – Fitbit reported an adjusted quarterly loss of eight cents per share for its latest quarter, three cents a share smaller than consensus forecasts. The wearable fitness device maker's revenue beat estimates, thanks to increased demand for newer models and higher prices.
Wyndham Worldwide (NYSE: WYN) – Wyndham will split its hotel and timeshare businesses into two separate publicly traded companies, echoing moves in recent years by several rivals. The move is expected to be completed during the first half of 2018.
Square (NYSE: SQ) - Square lost four cents per share for its latest quarter, one cent a share smaller than the five-cent loss forecast by analysts. The mobile payments company's revenue came in above estimates, and Square also raised the lower end of its full-year revenue guidance. Results were helped by a 33 percent jump in gross payment volume.
IAC/Interactive (NASDAQ: IAC) - IAC beat estimates by 10 cents a share, with adjusted quarterly profit of 74 cents per share. The internet business conglomerate also saw revenue beat forecast. IAC was helped by revenue increases at its Match Group (NASDAQ: MTCH) dating site unit, as well as Home Advisor.
AIG (NYSE: AIG) – AIG reported adjusted quarterly profit of $1.53 per share, beating estimates of $1.20 a share. The profit beat comes as new CEO Brian Duperrault continues a makeover of the insurance company, shedding unprofitable lines and focusing on business-related property-casualty insurance.
Cheesecake Factory (NASDAQ: CAKE) – Cheesecake Factory beat estimates by two cents a share, with adjusted quarterly profit of 78 cents per share. The restaurant chain's revenue matched forecasts. Comparable-restaurant sales fell 0.5 percent, breaking a 29-quarter streak of growth. The company also gave current-quarter earnings guidance that was below consensus forecasts.
Invesco (NYSE: IVZ) – Invesco is in talks to buy the investment management business of Guggenheim Partners, according to Reuters. Invesco is already the world's fourth largest exchange-traded fund (ETF) provider, and the deal would reportedly include Guggenheim's ETF business. Talks are said to be fluid, however, and a deal is not close to being finalized.
MetLife (NYSE: MET) – MetLife earned an adjusted $1.30 per share for its latest quarter, two cents a share above estimates. Revenue beat forecasts, as well. Stronger underwriting across all the insurance company's businesses helped its latest results. Separately, MetLife's "too big to fail case" was put on hold as a court waits for the Trump administration to articulate its stance on that designation. Last year, the Obama administration had appealed a ruling that the "too big to fail" label was wrongly applied to MetLife.
Western Digital (NASDAQ: WDC) – The hard disk drive maker said it plans to invest in a new memory chip production line with partner Toshiba, despite Toshiba's statement that it would go ahead on its own. The two sides have y et to reach an agreement about the planned investment in the new line.
Symantec (NASDAQ: SYMC) – The maker of cybersecurity software earned an adjusted 33 cents per share for its latest quarter, two cents above estimates, with revenue roughly in line. Symantec also announced the sale of its website security business for $950 million plus a 30 percent stake in buyer DigiCert.
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