Try the businesses making headlines earlier than the bell:
Common Mills — The meals firm reported adjusted quarterly revenue of 83 cents per share, beating the consensus estimate of 69 cents a share. Income was barely above forecasts and Common Mills issued an improved full-year outlook.
Nexstar — Nexstar will promote a complete of 19 TV stations for $1.32 billion, 11 to Tegna and eight to Scripps. The divestitures comply with the acquisition of Tribune Media by Nexstar, which stated it’s in talks to promote two extra stations in Indianapolis.
Alphabet — The European Union fined Google $1.7 billion for abusing the dominance of its search engine, within the final of three circumstances towards the Alphabet unit. Google is not going to need to take any actions associated to the superb as a result of it has already modified the practices that resulted within the unique prices.
FedEx — FedEx reported adjusted quarterly revenue of $three.03 per share, lacking consensus estimates by eight cents a share. Income fell beneath forecasts as properly, and FedEx additionally minimize its full-year outlook for the second quarter in a row, citing a slowing international financial system.
Tencent Music — Tencent Music issued its first earnings report as a public firm, with the Chinese language music streaming firm beating Wall Avenue estimates on each the highest and backside traces. Shares are being pressured, nonetheless, by considerations over the corporate’s hovering license and content material manufacturing prices.
Johnson & Johnson, Sientra — The 2 firms acquired Meals and Drug Administration (FDA) warning letters saying the businesses had not complied with post-approval examine necessities for his or her breast implant merchandise. The FDA stated failure to appropriate the violations may end in withdrawal of approval.
Viacom — Viacom stated it had begun warning prospects of AT&T’s DirecTV unit that they might lose channels corresponding to MTV and Nickelodeon if the 2 sides cannot agree on a brand new contract by a Friday deadline.
Sage Therapeutics — The drugmaker acquired FDA approval for its Zulresso drug, the primary particularly designed to deal with girls with postpartum despair.
Sony — Jefferies downgraded the inventory to “maintain” from “purchase,” two months after eradicating Sony’s designation as a “high choose.” Jefferies expresses considerations a couple of peak in sport earnings and Sony’s incapability to exit the smartphone enterprise.
Steelcase — Steelcase reported adjusted quarterly revenue of 29 cents per share, beating consensus estimates by 2 cents a share. The workplace furnishings maker’s income got here in above Wall Avenue forecasts, helped partly by larger costs.
Monster Beverage — Monster Beverage was downgraded to “impartial” from “purchase” at Goldman Sachs, which additionally eliminated the vitality drink maker’s inventory from its “Conviction Purchase” record. Goldman thinks the corporate’s near-term U.S. gross sales may very well be softer than anticipated.
Greenback Tree — Greenback Tree was upgraded to “outperform” from “market carry out” at Telsey Advisory Group following a gathering with administration. Telsey stated the assembly supplied readability on the low cost retailer’s plans to enhance its outcomes.
Smartsheet — Smartsheet reported an adjusted quarterly lack of 7 cents per share, smaller than the 14 cents a share loss anticipated by analysts. The cloud software program firm’s income was above estimates, though it’s forecasting a larger-than-expected loss for the present quarter and the total 12 months.