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Check out the companies making headlines before the bell:
Boeing — The Wall Street Journal reports that Boeing limited input from its test pilots on the flight control systems for the now-grounded 737 Max jet fleet, contrary to established procedure.
Tesla — Tesla has increased the size of a proposed capital raise, upping the number of shares to be issued as well as the amount of convertible bonds to be offered. A new Securities and Exchange Commission filing said CEO Elon Musk would buy $25 million of those shares, compared to $10 million detailed in a Thursday filing.
Newell Brands — The consumer products company reported adjusted quarterly profit of 14 cents per share, 8 cents a share above estimates. Revenue also beat forecasts, driven by a strong performance in Newell’s writing brands like Paper Mate and Sharpie. Newell did, however, give a current-quarter earnings forecast that was shy of consensus.
Marriott — The hotel operator said CEO Arne Sorenson has been diagnosed with stage 2 pancreatic cancer. Sorenson said the cancer was discovered early and does not appear to have spread, and he will continue in his job while being treated.
Dish Network — The satellite TV provider fell a penny a share shy of estimates, with quarterly profit of 65 cents per share. Revenue was essentially in line with expectations. Dish experienced a loss of 259,000 net subscribers during the quarter.
Amazon.com — Berkshire Hathaway’s Warren Buffett told CNBC’s Becky Quick that Berkshire has been buying shares of Amazon. The purchases were made by one of Berkshire’s investment managers, Todd Combs or Ted Weschler, not by Buffett himself.
Berkshire Hathaway — Warren Buffet, in a CNBC interview that aired Friday, also revealed for the first time the behind-the-scenes moves that led Berkshire to commit $10 billion to help Occidental Petroleum buy Anadarko, the oil-driller that Chevron had already been trying to purchase.
Activision Blizzard — Activision reported adjusted quarterly profit of 31 cents per share, 6 cents a share above estimates. The videogame company’s revenue also topped Wall Street forecasts. Activision issued weaker-than-expected current-quarter guidance, however, as it invests more money in its franchises to battle competitors like “Fortnite.”
CBS — CBS came in a penny a share ahead of estimates, with quarterly earnings of $1.37 per share. The media company’s revenue missed forecasts, however, on weaker results from content licensing and distribution.
Expedia — Expedia lost 27 cents per share for its latest quarter, 11 cents a share less than Wall Street was expecting. The travel website operator saw revenue come in below estimates, as did a 9% increase in room nights booked via Expedia.
Gilead Sciences — Gilead reported adjusted quarterly profit of $1.76 per share, 15 cents a share higher than estimates. The drugmaker’s revenue was below forecasts. The bottom line was helped by strong sales of new HIV drug Biktarvy, as well as lower-than-expected research and development costs. The company also announced that Kite Pharma, which it acquired in 2017, would become a separate business unit.
Facebook — Facebook is recruiting partners for the possible launch of a cryptocurrency-based payments system, according to The Wall Street Journal.
Shake Shack — Shake Shack matched analysts’ forecasts with quarterly profit of 13 cents per share, while the restaurant chain’s revenue topped estimates as same-restaurant sales increased 3.6% during the quarter. Analysts had expected same-restaurant sales to rise just 0.9%.
Sinclair Broadcasting — Sinclair will buy 21 regional sports networks from Walt Disney in a deal valued at more than $10 billion, according to The Wall Street Journal, with the deal set to be announced as early as today. Disney acquired the networks in its recent purchase of 21st Century Fox assets. Separately, the Journal also reports that Sinclair is partnering with the New York Yankees to buy the YES network, which had also been among those Fox assets.
GoDaddy — GoDaddy reported quarterly profit of 7 cents per share, missing the consensus estimate of 10 cents a share. The web hosting company’s revenue also missed forecasts, hurt by rising costs and slower customer growth.
Verizon — Verizon is seeking a buyer for its Tumblr blogging service, according to The Wall Street Journal. Tumblr was among the assets Verizon acquired when it bought Yahoo in 2017.
Weight Watchers — Weight Watchers lost 9 cents per share for its latest quarter, smaller than the 26 cents a share loss that Wall Street was expecting. Revenue was below estimates. Weight Watchers saw a 1% rise in subscribership compared to a year earlier.
