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Early movers: COST, LB, FDX, DTV, CHK, ECA & more

Traders work on the floor of the New York Stock Exchange.
Adam Jeffery | CNBC
Traders work on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Costco–Costco reported fourth quarter profit of $1.05 per share, twelve cents below estimates. The warehouse retailer's results were hurt by lower profit margins in several areas, including fresh food and certain merchandise categories.

Staples–The office supplies retailer missed estimates by six cents with fourth quarter profit of 33 cents per share, with sales missing consensus as well. Staples is rolling out a $500 million cost-cutting program which will see 225 stores close by the end of 2015.

Joy Global (JOY) – The mining equipment maker earned 49 cents per share, excluding certain items, for its fiscal first quarter, well below estimates of 64 cents. Joy Global was hit by slumping demand for mining equipment as coal miners try to deal with excess supplies.


L Brands–The Victoria's Secret parent reported comparable store sales up 2.0 percent for February, beating estimates of a 1.4 percent rise.

Vornado Realty Trust–Goldman Sachs resumed coverage with a "conviction buy" rating, saying real estate market conditions and Vornado's recent under-performance gives it the potential for a 17 percent upside.

Yum Brands–Baird upgraded the restaurant operator's shares to "outperform" from "neutral", based on an expected recovery for Yum's China business, among other factors.

FedEx–RBC lowered third quarter earnings estimates for the delivery service, citing weather and pre-Christmas disruptions.

Tiffany's–The luxury goods retailer was upgraded to "buy" from "neutral" at Citi, saying new management and design teams will provide a boost to sales.

Devon Energy–Devon raised its quarterly dividend by 9 percent to 24 cents per share. The increased dividend will be paid on June 30 to shareholders of record as of June 13.

Chesapeake Energy, EnCana–The two companies have been charged by the state of Michigan with colluding to keep oil and gas lease prices artificially low. The two companies were the biggest participants in an oil and gas land leasing boom in 2010. Both companies deny the charges and both say they will "vigorously" fight them.

DirecTV–The company is in talks with Walt Disney for a deal similar to the one struck by Dish Network earlier in the week. The potential agreement would allow the satellite TV operator to offer Disney content as part of an internet-based product.

Darden Restaurants–The parent of the Olive Garden and Red Lobster chains canceled an investor meeting that had been scheduled for March 28. Instead, it plans to meet individually with various analysts and investors to explain its turnaround plans.

Logitech–Logitech lifted its earnings guidance for the fiscal year that begins in April, as the company's sales of accessories for tablets and smartphones increase. The company also announced a 3-year, $250 million stock buyback program.

Zumiez–The sports apparel and equipment retailer reported an 8.8 percent increase in sales for the fourth quarter, with comparable store sales up a better than expected 2.0 percent.

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 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.