Early Movers: COST, RSH, URBN & More
Check out which companies are making headlines before the bell on Tuesday:
Costco Wholesale - The warehouse retailer earned $1.10 per share for its second quarter, excluding certain items, four cents above estimates. Costco was helped by higher sales and more revenue from membership fees.
RadioShack - Goldman Sachs has downgraded the electronics retailer to "sell" from "neutral," calling the business model "challenged" and saying it sees "minimal equity value."
Urban Outfitters - The retailer reported fourth quarter profit of $0.56 per share, one cent below estimates, though revenue did exceed consensus and its profit margins were higher. The retail chain has been helped by less discounting.
(Read More: See the Day's Top Percentage Winners & Losers)
VeriFone Systems - Chief Executive Officer Douglas Bergeron is stepping down, with Chairman Richard McGinn succeeding him on an interim basis. The maker of credit card payment systems has formed a search committee to seek out potential successors. Bergeron has been CEO since 2001, but said the time is right for new leadership.
Yum Brands - The restaurant chain said same-store sales in China rose 2 percent in February. Analysts had thought that comparable sales in China for the KFC, Taco Bell, and Pizza Hut parent would fall by nearly nine percent during the month. Sales had been hit last year by a food safety scare in that country.
Rambus - Rambus has appointed director Eric Stang as chairman and announced a reduction in the size of the chipmaker's board of directors.
Royal Caribbean, Carnival Cruise Lines, Norwegian Cruise Line Holdings - A three-day cruise industry conference gets underway today in Miami. Seven industry executives will be talking about the state of cruising, especially in light of the recent issues involving the Carnival Triumph and the Costa Concordia disaster last year.
Diamond Foods - Diamond reported fiscal second-quarter profit of $0.05 per share, excluding certain items, one cent below estimates. Revenue was also short of consensus, as nut sales weakened, although the company also saw operating expenses fall.
Hewlett-Packard - British authorities launched an investigation into HP's allegations of accounting improprieties at Autonomy prior to its 2011 acquisition of the U.K. business software maker.
Best Buy - Goldman Sachs has reinstated coverage of the electronics retailer with a "buy" rating, saying it sees a 25 percent upside. Goldman said cost cuts will drive improved profitability.
Dick's Sporting Goods - After the sporting goods chain saw its shares slump Monday on lower-than-expected earnings, Goldman has now upgraded Dick's to "Conviction Buy." The firm said the risks that resulted in choppy fourth-quarter results and a cautious first-quarter forecast have now played out.
Apple - Jefferies has cut its price target for Apple shares to $420 from $500, while maintaining a "hold" rating. Analyst Peter Misek sees a later iPhone 5s launch and low-cost iPhone launches sooner to compensate.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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