This post was originally published on this site
Check out the companies making headlines before the bell:
Bed Bath & Beyond — The housewares retailer is reconstituting its board, with five independent directors stepping down and the company’s founders and co-chairmen departing the board as well. Lead independent director Patrick Gaston has been named as the new chairman.
Kimberly-Clark — The consumer products company beat estimates by 12 cents a share, with adjusted quarterly profit of $1.66 per share. Revenue also beat Wall Street forecasts, helped by higher selling prices and cost reductions which helped offset higher commodity prices and currency headwinds.
Halliburton — The oilfield services company reported adjusted quarterly profit of 23 cents per share, a penny a share above estimates. Revenue also topped forecasts. Halliburton said it is seeing a broad-based recovery across its international markets, and added that it believes the worst in pricing deterioration is now behind it.
Tesla — CEO Elon Musk will hold an investor event at the automaker’s California headquarters, focusing on Tesla’s self-driving efforts. Separately, Musk and the SEC both asked a federal judge for more time to negotiate a settlement over the SEC’s attempt to hold Musk in contempt of court for recent tweets. The company also said it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time.
Boeing — Boeing’s 787 Dreamliner is the subject of a New York Times article that raises safety concerns about the 787 Dreamliner due to what the paper calls “shoddy production and weak oversight” at the jet maker’s South Carolina factory. Boeing told CNBC the story is “skewed and inaccurate.”
DR Horton — DR Horton was downgraded to “”market perform” from “outperform” at Keefe Bruyette and Woods, with the firm citing valuation for its call. KBW’s price target for the home builder’s stock remains at $47 per share.
Occidental Petroleum — Occidental was downgraded to “neutral” from “buy” at Mizuho Securities, with Mizuho pointing to reports that the company may make a bid for Anadarko Petroleum.
T–Mobile US — T-Mobile CEO John Legere has been trying to address the Justice Department’s concerns over the wireless carrier’s proposed merger with rival Sprint, according to a Bloomberg report. Legere is said to have met with antitrust division chief Makan Delrahim and others, amid reports that the department was set to reject the merger.
Amazon — Amazon confirmed earlier reports that it was launching an ad-supported free version of its Amazon Music service. Those reports had weighed on shares of rival Spotify.
Kroger — Kroger CEO Rodney McMullen told The Wall Street Journal that the grocery chain’s strategy will help it grow again, despite challenges in the grocery business presented by Whole Foods owner Amazon and Walmart.
