Traders work under monitors displaying 3M Co. signage on the floor of the New York Stock Exchange (NYSE) in New York.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines before the bell:
Alibaba — The Chinese e-commerce giant beat estimates by a wide margin on both the top and bottom lines, driven both by increased user engagement and growth in its cloud business.
Tilray — Tilray reported an adjusted quarterly loss of 27 cents per share, two cents larger than analysts were expecting. The Canadian marijuana producer’s revenue did come in above estimates, helped by acquisitions, legalization of recreational marijuana use in Canada and growth in its medical markets.
Aurora Cannabis — Aurora lost five cents per share for its fiscal third quarter, matching forecasts, while revenue fell below analyst estimates. Aurora – which is also a marijuana producer based in Canada – did see a surge in revenue from a year earlier, helped by the same factors that helped Tilray.
Restaurant Brands International — The company’s Tim Hortons chain will be testing three breakfast options made with Beyond Meat‘s meatless patty. The test will begin at select locations in Canada. Separately, Restaurant Brands – which is also the parent of Burger King and Popeyes – announced plans to expand to 40,000 restaurants globally from the current 26,000 over the next eight to ten years.
Zillow Group — The real estate website operator’s stock was upgraded to “buy” from “neutral” at Guggenheim, based on optimism about Zillow’s “Offers” home sale service.
Agilent Technologies — Agilent reported adjusted quarterly profit of 71 cents per share, missing consensus forecasts by one cent. The maker of laboratory instruments also saw revenue fall short of estimates, pointing to weakness in its pharmaceutical and food markets. Agilent also gave a current quarter outlook that falls largely below Wall Street forecasts.
Biogen — Biogen reached an agreement to sell its spinal muscle atrophy treatment Spinraza to England’s National Health Service for an undisclosed price. Spinraza has a U.S. list price of $750,000 for the first year and $375,000 per year in subsequent years.
Xilinx — Xilinx forecast fiscal 2020 revenue above Wall Street forecasts at $3.45 billion to $3.6 billion. The specialty chip maker is currently rolling out new semiconductors for use in 5G equipment
McDonald’s — The restaurant chain will let its franchisees decide which breakfast items to serve on an all-day basis, in an effort to simplify operations and reduce wait times for customers.
Legg Mason — Legg Mason may be the target of an activist campaign by Nelson Peltz’s Trian management, according to the Wall Street Journal. The paper said Trian has held discussions with the money management firm about cutting costs and improving profit margins.
Amdocs — The communications software and services company reported adjusted quarterly profit of $1.06 per share, beating estimates by three cents. Revenue also beat forecasts, and the company also raised its full-year forecast.
The Container Store — The retailer of storage and organization products beat estimates by three cents with adjusted profit of 33 cents per share for its fiscal fourth quarter, with revenue also beating estimates. Comparable store sales were up 8.5% during the quarter, well above the 3.1% consensus estimate of analysts surveyed by Refinitiv.