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Early movers: ICPT, AA, GPS, TGT, TIF, SHLD & more

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Check out which companies are making headlines before the bell:

Intercept Pharmaceuticals —Intercept is jumping again this morning after nearly quadrupling in Thursday trading. The stock got a boost from upbeat study results for a drug used to treat liver disease, and there's now increasing speculation that the company could be a takeover target.

Alcoa–The aluminum maker reported fourth quarter profit of four cents per share, two cents below estimates, though revenue was above forecasts. Alcoa and rival firms have been dealing with consistently low prices for aluminum.

Gap–The retail chain reported flat December same-store sales, compared to analyst forecasts of a 1.5 percent increase. The parent of Gap, Banana Republic, and Old navy also reaffirmed full year earnings guidance of $2.57 - $2.65 per share, below consensus estimates of $2.69. The retailer did say it expect earnings to come in at the high end of its outlook because of an upbeat holiday season.

Target–Goldman Sachs upgraded the retailer's stock to "buy" from "hold". Separately, the big box retailer revealed that the recent data breach involving stolen credit card numbers also saw some customer information–such as names,addresses, and phone numbers–stolen as well.


Tiffany–The luxury goods retailer reported an 8 percent increase in sales for the two months ending December 31, adjusted for exchange rates. Comparable store sales were up 6 percent on an adjusted basis.

Sears Holdings–Sears reported quarter-to-date same-store sales are down 7.4 percent, and also projects a fourth quarter loss much larger than analysts had been anticipating.

Abercrombie & Fitch–The teen apparel retailer saw fourth quarter same-store sales fall 6 percent, but also raised its full-year forecast because of higher than expected sales in the current quarter.

Shoe Carnival–The shoe retailer is projecting current quarter sales and earnings well below Street estimates, a result CEO Cliff Sifford calls "disappointing".

FossilKeyBanc downgraded the stock to "underweight" from "hold", citing concerns that the growth in the wearable technology market could cut into traditional watch sales.

LinkedInWunderlich Securities is repeating its "buy" rating, saying the recent 20 percent pullback in the stock creates a buying opportunity.

MicrosoftBarclays upgraded the stock to "overweight" from "equalweight", saying Microsoft is better positioned in cloud services than its peers.

Five Below (FIVE) – The company cut its current quarter outlook below Wall Street estimates, with the discount retailer pointing to bad weather during the holiday shopping season. Five Below also said the effect of bad weather was exacerbated by the shortened holiday season.

Chevron–The No. 2 U.S. oil producer is predicting fourth quarter profit that will be comparable to the third quarter's $2.57 per share. Analysts had been predicting quarterly profit for the oil giant of $2.91 per share, but Chevron and others have been dealing with the effects of sagging global production.

Health Management Associates–The hospital operator is being investigated by the Justice Department for alleged kickbacks to physicians for referrals, according to Dow Jones.

Boeing–The aerospace giant is the target of unfair labor practice charges by some members of the machinists union. They say the company threatened to move their jobs elsewhere unless they approved the pact, which recently passed by a narrow margin after being voted down back in November.

Overstock.com–The online retailer is now accepting Bitcoin as payment on its site, saying it's the first web-based seller to do so.

YRC Worldwide–YRC workers have rejected a contract extension, putting the trucking company's debt restructuring plan in jeopardy. YRC said it is currently considering its options following that rejection.

By CNBC's Peter Schacknow

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

  • Patti Domm

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

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • CNBC Senior Commodities Correspondent and Personal Finance Correspondent

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.