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Discover the companies that make the headlines before the bell:
Target – The retailer posted an adjusted quarterly profit of $ 1.82 per share, 20 cents higher than estimates. Revenues also exceeded expectations. Same store sales increased 3.4%, above the 2.9% estimate of analysts surveyed by Refinitiv. Target has also raised its outlook for annual results.
Lowe's – The Home Renovation Retailer beat estimates by 14 cents a share, with adjusted quarterly earnings of $ 2.15 per share. Revenues also exceeded expectations. Comparable store sales revenue grew 2.3%, better than the consensus estimate of 1.9%.
Urban Outfitters – Urban Outfitters posted a quarterly profit of 61 cents per share, up 3 cents from the estimates. Revenues and same store sales, however, were below Wall Street's expectations, as growth in digital sales did not offset declines in the company's Urban Outfitters, Anthropology and Free People stores.
Children's Place – The children's clothing retailer made an adjusted profit of 19 cents a share for its last quarter, a penny per share higher than estimates. Revenues were however lower than expected and same-store sales were down 3.8%, which is in line with analysts' forecasts. Children's Place also lowered its forecast for the entire year due to a decrease in traffic, an increase in promotional activity and the pressure exerted by the liquidation of Gymboree.
Toll Brothers – Toll Brothers beat estimates of 17 cents per share, with a quarterly profit of $ 1 per share. The revenue of the luxury home builder also exceeded analysts' forecasts. Toll Brothers, however, saw a drop in orders, which suggests less demand for new homes. The company said that lower mortgage rates and strong employment were positive factors for the future.
Tesla – Tesla was sued by Walmart. The retailer alleged that Tesla's "widespread negligence" was responsible for several fires in Tesla's solar energy systems. Walmart is asking the court to force Tesla to remove the solar panels from more than 240 of its stores.
Alibaba – Alibaba is delaying an initial public offering of $ 15 billion, Reuters announced. The decision of China's e-commerce giant comes in the context of growing political unrest in Hong Kong.
Cardinal Health – Cardinal Health stated that its business may be affected by ongoing opioid lawsuits. Cardinal and other wholesale drug distributors were named in about 2,500 lawsuits and Cardinal said he expected to be named defendant in other lawsuits.
Crees – The Crees have announced an adjusted quarterly profit of 11 cents per share, a penny per share above estimates. The lighting solutions company also saw its revenues exceed expectations. The company, however, has announced lower than expected forecasts for the current quarter, highlighting the weak LED market and the US ban on doing business with Chinese company Huawei Technologies.
CyberArk Software – The cybersecurity company has been described as "outperforming" by Cowen's new hedge, citing its leading position in the fast-growing Privilege Access Security segment.
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