Visits: 4
Check out the companies making headlines before the bell:
Kimberly-Clark – The consumer products company named President and Chief Operating Officer Michael Hsu as its new CEO, effective in January. He’ll replace Thomas Falk, who had been CEO since 2002 and will become executive chairman. Separately, company reported adjusted quarterly profit of $1.71 per share, 8 cents a share above estimates. The company also gave a full-year forecast range that is largely above Street forecasts, however it said that foreign currency translation will have a larger-than-expected negative sales impact.
Halliburton – The oilfield services company beat estimates by 1 cent a share, with quarterly earnings of 50 cents per share. Revenue came in slightly above estimates, as well. Halliburton said North American capacity constraints and “customer budget exhaustion” did have an impact on results, but expects that to be a temporary situation.
Hasbro – The toymaker reported adjusted quarterly profit of $1.93 per share, missing the consensus estimate of $2.23 a share. Revenue also missed forecasts, with Hasbro citing lost revenue from the Toys “R” Us liquidation.
Polaris Industries – The recreational vehicle maker earned an adjusted $1.86 per share for the third quarter, beating the consensus estimate of $1.57 a share. Revenue also beat forecasts, although North American retail sales slowed to one percent growth from 13 percent the prior year. The earnings beat comes despite pressures related to steel and aluminum tariffs.
Intel – The chipmaker’s stock was upgraded to “buy” from “neutral” at Nomura/Instinet, which sees Intel as the only company in the semiconductor space which is likely to raise earnings estimates this month or next.
Regeneron Pharmaceuticals, Sanofi – The drugmakers have received Food and Drug Administration approval to use their Dupixent drug to treat asthma. The drug is already approved for the treatment of eczema.
CBS – CBS interim chairman Richard Parsons has stepped down from that position due to ill health. The former Time Warner CEO will be replaced by Take-Two Interactive Chairman and CEO Strauss Zlenick, who had joined the CBS board last month.
Fiat Chrysler – The automaker agreed to sell its Magneti Marelli auto parts unit to Japan’s Calsonic Kansei for $7.1 billion. Calsonic is owned by U.S. private equity firm KKR.
Jacobs Engineering – Jacobs is selling its energy, chemicals and resources unit to Australian engineering services firm WorleyParsons for $3.3 billion. Jacobs said it is focusing on its higher growth businesses.
General Electric – GE and Germany’s Siemens have both signed agreements to rebuild Iraq’s power infrastructure.
Chipotle Mexican Grill – Chipotle was upgraded to “outperform” from “sector perform” at RBC Capital, which expects the restaurant chain to benefit from changes in its menu and its digital and delivery systems in 2019.
Caesars Entertainment – The casino operator plans to reject a reported takeover offer from Golden Nugget owner Tilman Fertitta, according to the New York Post.
EBay – Bank of America/Merrill Lynch downgraded eBay to “neutral” from “buy,” based in part on comments made by PayPal during its recent earnings report. PayPal, a former eBay unit, process more than half the payments on the eBay site.