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Check out the companies making headlines before the bell:
Accenture — The consulting firm earned $1.73 per share for its latest quarter, 16 cents a share above estimates. Revenue also beat Wall Street forecasts and Accenture raised its full-year outlook, as it benefits from its investments in digital and cloud-based services.
Movado Group — The watch maker reported adjusted quarterly profit of 67 cents per share, 12 cents a share above consensus. Revenue also topped estimates and Movado said it saw a significant increase in profit margins during the quarter.
Lululemon — Lululemon reported adjusted quarterly profit of $1.85 per share, beating forecasts by 9 cents, a share, while revenue was above Wall Street forecasts. The yoga wear maker also issued better-than-expected guidance for the full year and announced a $500 million stock buyback.
PVH — PVH beat estimates by 8 cents a share, with quarterly profit of $1.84 per share. The apparel maker’s revenue also beat analysts’ projections. PVH’s results were helped by a strong performance for its Tommy Hilfiger brand, and it also issued an upbeat outlook for the full year.
FedEx — Susquehanna downgraded FedEx shares to “neutral” from “positive,” noting an uncertain macroeconomic environment as well as an anticipated increase in capital spending by FedEx.
Five Below — Five Below came in a penny a share ahead of estimates, with quarterly earnings of $1.59 per share. The discount retailer’s revenue also registering a beat. Five Below did, however, issue a 2019 earnings outlook of $3 to $3.07 per share, below the consensus estimate of $3.13 a share. Five Below was also added to the “Conviction Buy” list at Goldman Sachs, with a price target of $147.
Church & Dwight —The maker of Arm & Hammer baking soda and other consumer products announced a deal to buy the Flawless and Finishing Touch brands of hair removal products from Ideavillage Products for $475 million in cash, plus a possible additional payout of up to $425 million depending on sales levels.
Office Depot — Office Depot and software supplier Support.com will pay a total of $35 million to settle Federal Trade Commission (FTC) charges that consumers were tricked into buying computer repair services. The FTC said the two allegedly deceived consumers with misleading malware claims.
Johnson & Johnson — J&J was cleared of liability in a New Jersey case involving claims that asbestos in J&J’s talc products had caused the plaintiff’s mesothelioma. J&J is currently facing about 13,000 talc-related lawsuits, and also announced settlements in three other cases Wednesday.
Fiat Chrysler — Volkswagen CEO Herbert Diess told reporters he is not interesting in any tie-up with Fiat Chrysler. That comes a day after reports said Renault planned to pursue Fiat Chrysler if it can restart and successfully conclude merger talks with longtime partner Nissan.
Nielsen Holdings — Blackstone has reportedly dropped out of the auction to buy Nielsen, the company best known for TV ratings.
Verint Systems — Verint reported adjusted quarterly profit of $1.08 per share, beating consensus estimates by 7 cents a share. The maker of software for call centers and intelligence agencies did see revenue fall below Street forecasts. Verint’s bottom line was helped by an increasing number of customers moving to cloud-based applications.
Monster Beverage — The energy drink maker was named “top pick” at Credit Suisse, citing an attractive valuation and excessive worries by investors over potential competition from Red Bull and Bang.