Friday, December 14, 2018


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Check out the companies making headlines before the bell:

Toll Brothers – Toll Brothers reported quarterly earnings of $2.08 per share, well above consensus estimates of $1.83 a share. Revenue also beat forecasts, and the luxury home builder said key metrics like deliveries and backlog were at its highest in over a decade. Overall orders declined, however, hurt by rising interest rates and higher home prices.

Dollar General – The discount retailer earned $1.26 per share for the third quarter, matching estimates, with revenue slightly above Street forecasts. Comparable-store sales were up 2.8 percent, beating the 2.4 percent consensus estimate of analysts polled by Refinitiv. Dollar General lowered its full-year outlook, however, citing greater-than-expected expenses.

Movado Group – The watch maker beat estimates by 6 cents a share, with adjusted quarterly earnings of $1.18 per share. Revenue also topped forecasts and Movado reiterated its prior full-year outlook.

Kroger – The supermarket chain will expand a pilot program to sell groceries in branded sections at Walgreens. The venture, which is operational in one Northern Kentucky store now, will be expanded to 13 Cincinnati-area stores near Kroger headquarters in early 2019.

HD Supply – The industrial supplier earned an adjusted $1 per share for the third quarter, beating estimates by a penny a share. Revenue also beat Street forecasts, and the company announced the approval of an additional $500 million in share repurchases.

AutoZone – The auto parts retailer earned $13.47 per share for its latest quarter, beating the consensus estimate of $12.21 a share. Revenue was above estimates as well, and comparable-store sales were up 2.7 percent compared to a 1.7 percent consensus forecasts.

RH – RH earned an adjusted $1.52 per share for its third quarter, beating the consensus estimate of $1.27 a share. The Restoration Hardware parent’s revenue exceeded estimates, as well, and it raised its current-quarter earnings and revenue guidance. The furniture retailer said revenue was negatively impacted this past quarter by tariff-related delays.

Apple – HSBC downgraded Apple to “hold” from “buy,” saying that although it is bullish on U.S. demand, it is more bearish on emerging market potential. HSBC also said it thinks Apple can grow services revenue and profits but that hardware business growth will be more difficult to achieve.

Cirrus Logic – Cirrus Logic cut its fiscal third-quarter guidance due to weakness in the smartphone market. The chip maker is a key supplier of audio chips for Apple’s iPhones.

Boeing – Boeing could see Lion Air cancel jet orders in a dispute between the two over a 737 crash in late October, according to sources quoted by Reuters. No final decision has been made over the $22 billion in orders still scheduled to be delivered to Lion Air.

Amgen – Amgen’s multiple myeloma treatment known as AMG420 received a “fast track” designation from the Food and Drug Administration, speeding up its path to possible approval. The biotech company said seven of 10 patients given the second highest does of the drug responded to treatment, with four having no detectable cancer.

Liberty Media – Liberty is preparing to seek a 35 percent stake in radio station operator iHeartMedia, according to the New York Post. The paper said Liberty’s John Malone wants to combine iHeart with his other music properties like SiriusXM and Live Nation.

Waste Management – Waste Management got a double upgrade from Goldman Sachs, which moved the waste processing company’s stock rating to “buy” from “sell.” Goldman has a positive view on the sector, and notes that Waste Management has the lowest price-to-earnings multiple among its peers. It also raised the price target on the stock to $107 from $84.

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