Early movers: TGT, LOW, SPLS, SJM, GS, INTU & more
Check out which companies are making headlines before the bell on Wednesday:
Target — The discount retail giant reported quarterly profit of 98 cents per share, excluding certain items, two cents above estimates. Revenue was shy of consensus, however, and the retailer now expects full year earnings at the lower end of its guidance. Target said its U.S. outlook envisions continued cautious consumer spending.
Lowe's — The home improvement retailer matched rival Home Depot by beat estimates on both the top and bottom lines, while also raising its yearly forecast. Lowe's earned 88 cents per share for the second quarter, eight cents above forecasts.
Staples — The office supplies retailer earned 16 cents per share for the second quarter, excluding certain items, two cents below estimates. Revenue also missed forecasts, with Staples citing weakness in its retail stores and international operations.
J.M. Smucker —The food producer reported fiscal first quarter profit of $1.24 per share, excluding certain items, four cents above estimates. Smucker also raised its full-year forecast on what the company calls solid volume growth.
Goldman Sachs — A source tells CNBC that a Tuesday trading glitch could cost Goldman $100 million or more. The glitch resulted in a large number of erroneous single stock and ETF options trades, although many of them may be canceled.
Intuit — The company matched estimates by reporting a break-even fourth quarter. Revenue beat consensus, but the producer of financial software is also predicting a larger than expected fiscal first quarter loss, along with revenue that's shy of Street estimates. Intuit's results have been hit by an increase in selling and marketing expenses, although it raised its quarterly dividend 12 percent.
Analog Devices — Analog Devices earned 57 cents per share for its third quarter, excluding certain items, three cents above estimates. The chip-maker saw lower operating costs and improved profit margins during the quarter.
La-Z-Boy — The company reported fiscal first quarter profit of 18 cents per share, beating estimates by three cents, with revenue slightly shy of analyst forecasts. The furniture maker did see both sales and profit margins improve during the quarter.
Quest Diagnostics —The medical lab operator has increased its stock buyback program by $1 billion, bring the program total to $1.3 billion.
Royal Caribbean —Royal's Celebrity Cruises line canceled the remainder of an Alaskan cruise aboard its Millennium ship due to mechanical issues, and has also canceled cruises on that ship scheduled to depart on each of the next four Fridays. Passengers aboard the most recent cruise will receive full refunds, a free future cruise, and the price of air travel home. Separately, Morgan Stanley raised its rating on the stock to "overweight" from "equal-weight", citing improving U.S. leisure trends and recovering European travel.
Office Depot — Office Depot has resolved a dispute with its largest shareholder, Starboard Value, by allowing three Starboard nominees seats on its board of directors. Starboard holds a 14.6 percent stake in the office supplies retailer.
JPMorgan Chase —The mega bank is close to naming two new directors to its board, according to Reuters. The board has not voted on the candidates, with the story saying a decision is likely in September.
Garmin —Goldman Sachs upgraded the GPS device maker's stock to "neutral" from "sell" following the launch of new action camera products.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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