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Early movers: PETM, FL, WMT, UAL, YUM, GPS, & more

Friday, 22 Nov 2013 | 8:05 AM ET

Check out which companies are making headlines before the bell on Friday:

PetSmart–The pet products retailer reported third quarter profit of 88 cents per share, two cents above estimates, with revenue essentially in line. The company also predicts current quarter same-store sales growth of 2.5 to 3.5 percent.

Foot Locker–The athletic apparel and footwear retailer beat estimates by two cents with third quarter profit of 68 cents per share, with revenue also beating Street consensus.

Wal-Mart–The world's largest retailer cut Walmart.com's free shipping minimum for the week after Thanksgiving to $35 from $50.

United Continental–The stock was upgraded to "buy" from "neutral" at Goldman Sachs, which said the airline will post "outsized" earnings growth next year.

Yum Brands–Deutsche Bank upgraded the restaurant operator to "buy" from "hold" and called the stock its top pick for 2014. The report points to significant free cash flow and above average earnings growth.

Gap –The clothing retailer reported third quarter profit of 72 cents per share, one cent above estimates. The parent of Gap, Old Navy, and Banana Republic stuck to its prior full-year forecast of $2.57 - $2.65, which is below the consensus estimate of $2.74, and it also announced a $1 billion stock buyback program.

U.S. Steel, Nucor – Wells Fargo cut U.S. Steel to "underperform" and Nucor to "market perform", predicting weaker prices in the first half of 2014 after a significant improvement over the past 1-1/2 years.

Nike –Nike raised its quarterly dividend to 24 cents per share from 21 cents, an increase of 14 percent. The athletic apparel and footwear maker has raised its dividend for 12 years in a row.

Pandora Media– The internet radio company earned six cents per share for the third quarter, excluding certain items, matching estimates, while revenue was above forecasts. However, Pandora had higher expenses for music, sales, and marketing during the quarter.

Time Warner Cable–The cable operator is on the verge of a bid from Charter Communications, according to the Wall Street Journal, which said Charter is near an agreement with banks for the funds to make that offer.

Herbalife–Herbalife will be the subject of a renewed attack from activist investor Bill Ackman at the Robin Hood Conference in New York today, according to Reuters. Ackman has maintained that Herbalife is a pyramid scheme, while other well-known investors like Carl Icahn have taken opposite bets.

Novartis – The drug maker said its experimental breast cancer drug will enter final stage trials next month. Both Novartis and Pfizer are competing to get this particular treatment to the market, with Pfizer's rival drug already in phase 3 testing. The company also announced a 5 billion share buyback.

UPS – The shipping giant will raise prices an average 4.9 percent next year, joining rival FedEx and the U.S. Postal Service in announcing rate hike plans for 2014.

The Fresh Market–The company reported third quarter profit of 23 cents per share, three cents below estimates, with revenue also missing the mark. The specialty grocery cut its full year earnings forecast for the second time, pointing to weaker consumer confidence.

Pozen– Pozen declared a special dividend of $1.75 per share. The drug maker will pay that dividend on December 30 to shareholders of record as of December 11.

Ross Stores – Ross Stores matched Street estimates with third quarter profit of 80 cents per share, but the retailer's current quarter guidance falls below analyst estimates as it warns of "intensely competitive" pricing for the holiday season.

Splunk –The maker of data analytics software posted a break-even third quarter, better than the one cent loss than analysts had been forecasting, while revenue exceeded estimates. The company was able to add more customers during the quarter, and raised its yearly revenue forecast.

Marvell Technology–Marvell beat estimates by seven cents with third quarter profit of 32 cents per share, excluding certain items, while revenue was well above consensus. The chipmaker also gave a current quarter earnings forecast that falls largely above current analyst estimates, as it increases sales to wireless device makers.

Intuit–Intuit lost six cents per share for its first quarter, three cents smaller than Wall Street was expecting. Revenue exceeded estimates, but the software maker's current quarter earnings and revenue forecasts are below Street forecasts. Intuit is the company behind the Quicken and TurboTax software packages.

Autodesk–The design software provider reported third quarter profit of 41 cents per share, excluding certain items, beating estimates by two cents. Revenue exceeded analyst forecasts as well, as the company benefited from higher subscription revenue and lower expenses.

Aruba Networks – Aruba earned 16 cents per share for its first quarter, excluding certain items, two cents above estimates, with revenue above forecasts as well. Aruba, which makes wireless networking equipment, said it saw strong sales of products using the new Wi-Fi standard known as 802.11ac.

Nielsen Holdings– Nielsen announced a 30 million share secondary stock offering. Shares in the rating service provider to sold are currently held by several private equity firms, including Blackstone, Carlyle Group, KKR, and Thomas H. Lee Partners.


—By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com

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PETM
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FL
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WMT
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YUM
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GPS
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X
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NKE
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NUE
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PANDORA
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TWC
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CHTR
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HLF
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NOVN
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PFE
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UPS
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FDX
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TFM
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POZN
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ROST
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SPLUNK
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MRVL
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INTU
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ADSK
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ARUN
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NIELSEN HOLD
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  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

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