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Stocks to Watch: August 10, 2016

Check out which companies are making headlines before the bell: — The China-based online retailer reported a surprise profit for its second quarter, despite a revenue shortfall, thanks to a substantial improvement in profit margins.

Southwest Airlines — Southwest said current-quarter revenue per available seat mile would fall more than expected this quarter, owing to a July 20 computer outage that canceled more than 2,000 flights.

Michael Kors — The luxury goods maker earned an adjusted 88 cents per share for its latest quarter, 14 cents a share above estimates. Revenue also came in well above estimates. Comparable-store sales fell more than expected, however, and it gave a soft current-quarter forecast.

Walt Disney — Disney reported adjusted quarterly profit of $1.62 per share, one cent a share above estimates. Revenue also exceeded forecasts. Disney revenue at its movie studio and theme parks divisions were better than expected, but investors are focusing on a revenue miss at Disney's cable networks business.

SunPower — SunPower lost 22 cents per share for its latest quarter, two cents a share smaller than anticipated. The solar panel maker reported better-than-expected revenue. The company also said aggressive pricing by competitors is hurting its near-term returns, however, and it plans to cut 1,200 jobs and slash its CEO's salary to $1 for the rest of this year.

Tesla – Tesla said one of its cars operating in "autopilot" mode had crashed in China, and is investigating the incident. The driver claimed Tesla's sales staff sold that function as "self-driving."

Yum Brands — The restaurant operator will receive a petition from consumer groups today, calling on its KFC unit to stop its suppliers from routinely using antibiotics on its poultry.

Pacific Gas & Electric — The utility was found guilty of federal charges in connection with a 2010 natural gas pipeline explosion in California that resulted in eight deaths and 58 injuries. PG&E could be liable for a fine of up to $3 million.

Valeant Pharmaceuticals — Valeant was the subject of a private shareholder dinner hosted by Bank of America in late June, according to a Reuters report. The dinner was attended by investor and Valeant board member Bill Ackman, and came six weeks before Valeant reported earnings and unveiled a reorganization plan Tuesday. The story said one analyst questioned the propriety of the timing of that gathering.

Yelp – Yelp surprised the Street by reporting a second-quarter profit of one cent per share, compared to estimates of a seven cents per share loss. The customer review website operator's revenue also exceeded analysts' forecasts, as does its current-quarter revenue forecasts. The upbeat outlook comes amid an increase in business and consumer signups for Yelp's services, following an increase in sales and marketing expenditures by the company.

Mylan — Mylan reported adjusted quarterly profit of $1.16 per share, three cents a share above estimates. The drugmaker's revenue was essentially in line with forecasts. Mylan's results were helped by growth in its specialty and generic drug sales.

SolarCity — SolarCity lost $2.32 per share for its latest quarter, smaller than the $2.44 per share loss anticipated by analysts. The solar equipment company's revenue easily topped estimates. The company did say that closing new project financing deals were delayed due to the takeover talks it had been holding with Tesla.

The Container Store — The retailer reported a quarterly loss of four cents per share, smaller than the 10 cents per share loss forecast by analysts. Revenue, however, was short of consensus, and the seller of household storage products said it still had work to do in driving sales higher.

Sony — Sony announced a September 7 event involving its PlayStation video-game console. Analysts said it's likely Sony will unveil a successor to the PlayStation 4 at that event.

Fossil – Fossil earned 12 cents per share for its latest quarter, beating estimates by three cents a share. The watch maker's revenue also came in above forecasts. Profit was substantially lower than the year before, however, and Fossil gave lower-than-expected guidance for the current quarter as sales of traditional watches fall.