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Walmart, Pfizer, PG&E, Sony, Tesla & more

Walmart, Pfizer, PG&E, Sony, Tesla & more


Walmart, Pfizer, PG&E, Sony, Tesla & more


Check out the companies making headlines before the bell:

WalmartThe retail giant reported adjusted quarterly profit of $1.13 per share, 11 cents a share above Wall Street forecasts. Revenue came in below estimates, however, largely due to currency-related headwinds. But comparable-store sales at Walmart’s U.S. locations rose 3.4%, beating the Refinitiv consensus of 3.3%.

Cisco Systems Cisco reported adjusted quarterly profit of 78 cents per share, beating the consensus estimate of 77 cents a share. The networking equipment maker’s revenue also beat Street forecasts, and Cisco also gave better-than-expected current-quarter revenue guidance.

PfizerThe drugmaker was named a “top pick” at Credit Suisse following a meeting with Pfizer’s management team. Credit Suisse said the meeting increased its confidence in both management and the prospects for Pfizer’s new products.

PG&E The utility’s transmission lines caused California’s Camp Fire last year, according to a determination by state fire investigators. The fire, which killed 85 people, was the deadliest and most destructive wildfire in California history.

XPO Logistics XPO investors rejected a shareholder proposal calling for an independent chair, and also approved the logistics company’s executive compensation plan. The debate over executive compensation came amid a 50% drop in shares over the past eight months and a profit forecast for 2019 that has been lowered twice.

Sony Sony announced it would buy back 4.8% of its stock, about $1.8 billion worth, through the end of the current fiscal year next March. Sony had announced its first-ever share buyback plan in February.

At Home Group At Home remains on watch after jumping 8.2% in Wednesday trading. The jump followed a Reuters report that Kohl’s approached the home décor retailer about possibly acquiring it.

Flowers Foods Flowers reported adjusted quarterly profit of 32 cents per share, 2 cents a share above estimates. The maker of Wonder Bread and other baked products also saw revenue beat forecasts. Higher prices helped overcome slower sales.

Dillard’s Dillard’s beat estimates by 19 cents a share, with quarterly profit of $2.99 per share. The retailer’s revenue was in line with forecasts, however comparable-store sales were flat compared to expectations of a 1.3% increase.

KB Home — KB Home was upgraded to “outperform” from “sector perform” at RBC Capital Markets, which pointed to improvements in the home builder’s pricing.

TeslaThe automaker’s senior director of communications, Dave Arnold, is leaving Tesla after 2-1/2 years, according to sources who spoke to TechCrunch.


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