BLK, DAL, GE, BBBY, WMT, GSK, LMT & more

Business


Check out the companies making headlines before the bell:

BlackRock – The asset management firm reported adjusted quarterly profit of $6.70 per share, beating the consensus estimate of $6.39, with revenue also above forecasts. Profit was up nearly 27 percent from a year earlier, helped by a lower tax rate and an increase in advisory fees.

Delta Air Lines – The airline beat estimates by a penny with adjusted quarterly profit of 74 cents per share, though revenue came in below forecasts. Delta’s cost per available seat mile was up 3.9 percent, impacted by a 20 percent jump in fuel expenses.

General Electric – The Wall Street Journal reports that GE is considering either an IPO or some sort of hybrid deal for its GE Transportation unit, as it continues its strategic review. Such a deal could be a model for future asset moves, and may involve combining assets of some units with those of other firms to form a new public company.

Bed Bath & Beyond – The company reported adjusted quarterly profit of $1.48 per share, 9 cents above estimates, while the home goods retailer’s revenue also beat forecasts. However, comparable sales were down by 0.6 percent, and the company issued weaker than expected earnings guidance for 2018.

Shire – Japan’s Takeda Pharmaceutical has been talking to major creditors about loans for a possible Shire bid, according to Reuters. A Takeda bid for the British drug maker could be as high as $50 billion, according to some estimates.

Walmart – Walmart is near a deal to buy a majority stake in Indian e-commerce company Flipkart, according to Reuters. It would be Walmart’s biggest ever acquisition of an online business.

GlaxoSmithKline – The British drug maker is shedding its rare disease gene therapy drug portfolio to privately held Orchard Therapeutics. In return, Glaxo receives a 19.9 percent stake in Orchard as well as various royalty payments.

Barnes & Noble – A court revived a lawsuit involving a 2012 data breach at the book retailer. A circuit court judge said victims should be allowed to seek damages from the breach, which resulted from tampering with payment verification machines located at bookstores.

Lockheed Martin – The defense contractor is in a dispute with the Pentagon over who should pay for costs to fix a production error, according to a Reuters report. The Defense Department has stopped accepting deliveries of Lockheed’s F-35 jets because of the disagreement.

Apple – Apple’s HomePod is chalking up disappointing sales figures, according to a Bloomberg report which said Apple has been lowering its sales forecasts and that inventory in stores has been building up.

Zumiez – Zumiez reported a better-than expected 12.6 percent jump in March same-store sales. Overall sales for the retailer of action sports apparel and equipment were up 14.7 percent over a year earlier.

American Water Works – American Water Works is buying Southern Co.’s Pivotal Home Solutions business for $365 million in cash to expand its home services portfolio. The utility is selling a little more than 2.3 million common shares in a secondary offering to pay for the purchase.



Source link

Products You May Like

Articles You May Like

Two Dow stocks to buy and one to fade in a volatile market
Secrets of credit card super users
Stocks making biggest moves after hours: NFLX, AMZN & more
Pizza executives say Papa John’s is ‘falling apart’ 
Neom Organics’ Nicola Elliott on finding the right business partner

Leave a Reply

Your email address will not be published. Required fields are marked *