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Discover the companies that make the headlines before the bell:
Shutterfly – Shutterfly has agreed to be taken over by private equity firm Apollo Global for $ 51 per share, or about $ 1.7 billion. Apollo also buys another online photo service, Snapfish, for about $ 300 million and plans to combine the two.
Barnes & Noble – A new bidder has emerged for the Barnes & Noble bookstore chain, according to the Wall Street Journal. Readerlink book distributor is working on an offer that would go beyond Elliot Management's agreement to acquire Barnes & Noble for $ 6.50 per share or $ 475 million in cash.
Beyond Meat – Short sellers have lost more than $ 400 million betting against the shares of the plant-based burger maker since its publication, said research firm S3 Partners. The stock is up about 600% over the price of its IPO of $ 25 per share. In addition, J.P. Morgan Securities demoted the title of "overweight" and made it "neutral", claiming that its estimates over the street now seemed integrated in the valuation of the title.
HD Supply Holdings – The industrial distributor has announced an adjusted quarterly profit of 84 cents, or 3 cents per share above expectations, with revenues slightly higher than predictions of Wall Street. Sales of organic products increased by 5.8% compared to the same quarter of the previous year.
Ascena Retail – Ascena announced an adjusted quarterly loss of 26 cents per share, lower than the 37 cents per share loss expected by Wall Street analysts. The parent homes of the Ann Taylor and Lane Bryant clothing brands, however, underperformed estimates and the company recorded net sales in comparable stores.
Chico FAS – The clothing salesman announced a quarterly adjusted profit of 5 cents per share, or 2 cents per share above estimates. Revenues also exceeded Street's forecast. However, a comparable 7% decline in sales was higher than the 6.6% decline anticipated by analysts.
Casey's General Stores – Casey's reported quarterly earnings of 68 cents per share, well above the consensus estimate of 46 cents per share. The revenues of the convenience store operator also exceeded expectations.
Broadcom – The chip maker has announced a two-year supply agreement with Apple, pledging to provide components for smartphones, tablets and smart watches.
Zynga – Zynga has proposed a $ 600 million private debt offering, which can be converted into cash, shares or a combination of both. The mobile gaming company said the product would be used for general purposes.
Dollar Tree – Dollar Tree has been upgraded to become "overweight" relative to "neutral" at J.P. Morgan Securities, based on good indicators and improvements implemented in the Family Dollar chain of the discount retailer.
Wells Fargo – Wells Fargo was downgraded to "underweight" versus "neutral" in Atlantic Equities, due to lower interest rate outlooks and increased competition for deposits.
Facebook – Moffett Nathanson has improved the title so that it is "bought" to "neutral", thus reversing a call launched last September. The firm said its multiple concerns expressed at that time had been resolved.
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