Check out which companies are making headlines before the bell:
Facebook – CEO Mark Zuckerberg appeared on CNN to apologize for the misuse of customer data, and detailed steps to prevent such an occurrence from happening again.
Accenture – The consulting firm reported adjusted quarterly profit of $1.58 per share, beating estimates by 9 cents a share. Revenue was also above forecasts, as customers increased investments and digital and cloud services.
Darden Restaurants – The parent of Olive Garden and other restaurant chains came in 7 cents a share above estimates, with adjusted quarterly profit of $1.71 per share. It also increased its full-year outlook to a range that comes in mostly above current consensus. The most recent quarter’s revenue, however, did fall below analyst estimates.
Conagra – The food company earned an adjusted 61 cents per share for its third quarter, 5 cents a share above estimates. Revenue was essentially in line with expectations. Conagra also gave a full-year forecast that is above current consensus, but also joined other food companies in noting elevated input costs.
Michaels Companies – Michaels will shut its standalone Aaron Brothers stores, re-positioning the framing and arts supplies retailer as a “store within a store.” Separately, Michaels reported an inline quarter but issued a full-year forecast that’s somewhat short of analyst estimates.
Meredith Corp. – Meredith plans to lay off 1,000 Time Inc. workers over the next 10 months, in addition to 200 job cuts announced earlier this week. The company also confirmed earlier reports that it is exploring the sale of Time Inc.’s flagship titles like Time, Sports Illustrated, Fortune, and Money.
Guess – Guess reported adjusted quarterly profit of 62 cents per share, beating estimates by 8 cents a share. Revenue also beat forecasts. CEO Victor Herrero said he thinks this year marks the beginning of a turnaround for the apparel retailer.
Best Buy – The electronics retailer will stop selling electronic devices made by China’s Huawei Technologies over the next few weeks, according to a Reuters report. That comes amid increased U.S. scrutiny of China-based technology firms.
BlackBerry – BlackBerry reached an agreement with Jaguar Land Rover to provide software for the Tata Motors unit’s next-generation electric vehicles.
Pfizer – British consumer goods company Reckitt Benckiser will not bid for Pfizer’s consumer health-care business. Reckitt’s exit could push GlaxoSmithKline into the lead for the unit, with Reuters reporting that Glaxo is working on an offer.
Ford Motor – Ford executives Musa Tanq and Raj Rao are leaving the automaker. Both were recruited last year from Silicon Valley, but are now the latest to leave after Jim Hackett replaced Mark Fields as CEO last year.
Five Below – Five Below beat estimates by 2 cents a share, with adjusted quarterly profit of $1.18 per share. Revenue also came in above estimates. The discount retailer also gave a current-quarter forecast that exceeds Street forecasts, and its full-year outlook is mostly above consensus, as well.
Herman Miller – Herman Miller came in 1 cent a share ahead of estimates, with adjusted quarterly earnings of 50 cents per share. The office furniture maker’s revenue also came in above Street forecasts. However, current-quarter guidance 56 cents to 60 cents per share is below the current consensus estimate of 70 cents.
TrueCar – TrueCar was downgraded to “underweight” from “neutral” at JPMorgan Chase, which cited unfavorable auto industry trends among other factors. It also cut its price target on the car buying service’s stock to $10 per share from $13.
Ralph Lauren – Cowen upgraded the apparel retailer’s stock to “outperform” from “market perform,” noting the discount to its peers as well as several initiatives that Cowen feels will re-accelerate growth.
Booking Holdings – Mizuho began coverage of the company formerly known as Priceline with a “buy” rating, saying the online travel website operator will continue to gain a disproportionate share of the market due to industry-leading expertise.
Trivago – Mizuho also rates Trivago a “buy” in new coverage, based on strong fundamentals for travel industry search. However, JPMorgan Chase downgraded Trivago to “underweight” from “neutral,” saying it thinks the hotel search segment will remain challenged.
