Check out the companies making headlines before the bell:
Travelers – The insurance company posted quarterly profit of $1.81 per share, well below the consensus estimate of $2.42 a share. Revenue was above forecasts, but the results were heavily impact by significant catastrophe losses, much of it weather-related.
IBM – IBM reported adjusted quarterly profit of $3.08 per share, beating consensus estimates by 4 cents a share. Revenue also beat forecasts, with the company’s newer businesses making a significant contribution.
American Express – American Express beat estimates by 2 cents a share, with second-quarter earnings of $1.84 per share. Revenue came in very slightly below street forecasts. The shares are being pressured by a rise in quarterly expenses related to the financial services company’s credit-card rewards program.
EBay – EBay came in 2 cents a share ahead of analysts' estimates, with adjusted quarterly profit of 53 cents per share. Revenue came in essentially in line with expectations, however the online marketplace operator did give a lighter-than-expected full year forecast amid efforts to revamp its e-commerce platforms.
Blackstone – The asset-management firm reported economic net income of 90 cents per share, beating the consensus estimate of 75 cents a share. Revenue was also well above forecasts, as profit increased 55 percent from a year earlier.
Cisco Systems – Cisco shares are getting a boost following a MarketWatch report that Amazon Web Services had no plans to start selling network switching equipment. That counters a report last week that the Amazon unit was planning to enter the switch market.
Danaher – The maker of medical equipment came in 6 cents a share above estimates, with adjusted quarterly profit of $1.15 per share. Revenue beat forecasts and Danaher announced that it would spin off its dental business into a separate publicly traded company. It expects to complete that spin-off in the second half of 2019.
Taiwan Semiconductor – The company cut its full-year revenue forecast, as well as its capital spending outlook, with the chip maker anticipating slower growth in key markets such as smartphones. Taiwan Semiconductor is a key supplier for companies like Apple, Qualcomm, and Nvidia.
Alibaba – Alibaba bought a minority stake in China-based digital marketing company Focus Media Information Technology. The China e-commerce giant is buying a 6.6 percent stake for about $1.43 billion.
UnitedHealth – The health insurer is among the possible buyers of Tenet Healthcare’s health management subsidiary, according to The Wall Street Journal. Tenet had previously said it would make a decision on the sale of that unit, which provides services to hospitals and physician groups, during the first half of this year.
Noodles & Co. – Noodles & Co. reported adjusted quarterly profit of one cent per share, compared to a consensus estimate of two cents. However, the restaurant chain’s revenue did top Street forecast, and same-restaurant sales were up a better than expected 5.4 percent.