GO
Loading...

Early movers: HSH, PPC, T, DG, DRI, GM, BCS & more

Traders on the floor of the New York Stock Exchange.
Getty Images
Traders on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Hillshire Brands–Hillshire received an improved $55 per share takeover bid from Pilgrim's Pride, up from the original $45 and topping another bid from Tyson Foods of $50 per share. However, Hillshire said its prior agreement to buy Pinnacle Foods does not allow it to terminate that deal, a condition of both the Pilgrim's Pride and Tyson bids.

AT&T–The company is raising its full-year revenue guidance, due in part to strong trends in its wireless business.

Dollar General–The discount retailer reported quarterly profit of 72 cents per share, one cent short of estimates, with revenue also short of consensus. Dollar General points to poor winter weather and a competitive environment, among other factors, impacting its results.


Las Vegas Sands, MGM, Wynn Resorts–A Deutsche Bank report cited by StreetInsider.com said Macau gaming revenue was up 9.3 percent in May, well below the firm's estimate of a 14.8 percent increase.

Krispy Kreme—The doughnut store chain matched estimates with first quarter profit of 23 cents per share, excluding certain items. However, revenue was light, and the company cut its full-year earnings guidance, in part because expenses related to technology upgrades.

Sony–The company will stop selling its PlayStation Portable gaming device after ten years on the market. Sony has been emphasizing the PSP's successor device, the PlayStation Vita.

Quiksilver–The company lost 15 cents per share for its second quarter, wider than the two cent loss expected by analysts, and revenue was significantly short of consensus as well for the action sports apparel retailer. Lower sales in North America and in Europe impacted Quiksilver's bottom line, although it did note an improvement in emerging markets.

IBM–Big Blue has been notified by the SEC that the commission has concluded its investigation into IBM's accounting for cloud revenue, and will not recommend any enforcement action.

Darden Restaurants–Darden has received a letter from activist investor Starboard Value withdrawing its request for a special meeting. Starboard said the meeting is no longer a good use of company resources, since the agreement to sell the Red Lobster chain is binding. The firm had opposed that sale.

Lockheed Martin– Lockheed beat out Raytheon for a $915 million Air Force contract to provide a ground-based radar system. That system will track various space objects, including about 200,000 pieces from satellites no longer in use.

Staples–Shareholders voted to reject the company's executive pay plans and narrowly backed a call for an independent chairman by a margin of 51 percent to 49 percent.

Barclays–The banking giant has cut several hundred investment bank jobs this week as part of 7,000 planned job cuts over the next three years, according to Reuters.

General Motors—Reuters reports at least 74 people have died in GM vehicles involved in accidents with similarities to those linked to the company's faulty ignition switches. The Reuters report cites an analysis of government fatal crash data.

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.