Check out which companies are making headlines before the bell:
Alibaba – Alibaba said it expected fiscal 2018 revenue to grow 45 to 49 percent. The China-based online retailer revealed that projection in an Investor Day presentation.
J.M. Smucker – The food producer earned an adjusted $1.80 per share for its latest quarter, eight cents a share above estimates. Revenue beat forecasts and the company announced an acceleration of its cost-reduction program, which is projected to save $450 million annually by fiscal 2020.
Vail Resorts – The resort operator reported quarterly profit of $4.40 per share, missing estimates of $4.82 a share; that number does include some one-time charges. Revenue also fell short of Street forecasts, although the company said it was pleased with its overall results. It did note that its lodging segment was impacted somewhat by variable late season conditions in Colorado.
Tyson Foods, Sanderson Farms – Mizuho Securities began coverage on both poultry producers with "buy" ratings. The firm said Tyson is in the process of an underappreciated reinvention, while noting five straight years of strong profitability and the potential for expanding margins at Sanderson.
Urban Outfitters – In a Securities and Exchange Commission filing, the apparel retailer said its current-quarter comparable sales are down in the high single digits, which is a bigger drop than analysts have been anticipating.
Energizer Holdings – The battery maker's chief financial officer, Brian Hamm, is leaving to pursue other opportunities. The company's chief accounting officer, Timothy Gorman, has been appointed interim CFO.
Valeant Pharmaceuticals – The drugmaker announced the sale of its iNova Pharmaceuticals unit to funds managed by Carlyle Group and Pacific Equity Partners for $930 million. Valeant will use the proceeds pay down debt.
Verizon — Yahoo shareholders are expected today to approve the deal to sell the company's core internet assets to Verizon. Recode is reporting that when those assets are combined with Verizon's AOL division, up to 1,000 layoffs may take place.
Amazon.com – Amazon has stepped up its lending program aimed at third-party sellers on the Amazon website. A company executive said more than $1 billion in loans has been made to sellers in the past 12 months, compared to more than $1.5 billion over a four year period from 2011 through 2015.
Honda Motor – Honda has laid out its autonomous driving plans for the first time, saying it plans to develop self-driving cars which can drive on city streets by 2025.
Verint Systems – Verint reported adjusted first quarter profit of 49 cents per share, beating estimates by 11 cents a share. Revenue was also above Street forecasts. The enterprise software maker saw particularly strong growth in its Cyber Intelligence unit.
Sciclone Pharmaceuticals – The drugmaker agreed to be acquired by a private-equity consortium led by GL Capital for $11.18 per share in cash or $605 million. That represents a 10.7 percent premium over yesterday's closing price of $10.10.
Nvidia – UBS increased its price target on the graphics chipmaker's stock to $168 from $148, citing increased confidence in Nvidia's ability to profit from its participation in the autonomous driving market.
Sherwin-Williams – The paint maker was added to the "Conviction Buy" list at Goldman Sachs, which said the company will be supported by a strong housing market, price increases, and benefits from the acquisition of coatings maker Valspar.