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The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
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Check out the companies making headlines before the bell:
Eli Lilly – The drug giant reported adjusted quarterly profit of $1.39 per share, four cents above estimates, with revenue also beating Street forecasts. Lilly also raised its full year outlook, as it sees strong performance across its pharmaceutical portfolio.
AmerisourceBergen – The drug distributor came in one cent ahead of forecasts with adjusted quarterly profit of $1.45 per share. Revenue was essentially in line, and the company also raised its quarterly dividend to 40 cents per share from 38 cents and announced a new $1 billion stock buyback program.
Mallinckrodt – The drug maker beat estimates by 31 cents with adjusted quarterly profit of $2.10 per share. Revenue beat forecasts and Mallinckrodt also raised its full year forecast. The company said it saw strength in sales of hospital products and its multiple sclerosis drug Acthar, and added that it was also helped by expense control.
Mylan – Mylan reported adjusted quarterly profit of $1.25 per share, six cents above estimates, though the drug maker's revenue fell slightly short of forecasts. Mylan saw strong sales in emerging markets, among other positive factors.
Booking Holdings – Priceline's parent fell short of Street forecasts in its latest quarter, with adjusted quarterly profit of $37.78 per share. Analysts had expected the travel company to earn $38.21 per share. Revenue did beat forecasts, however, and the company issued strong current quarter revenue and earnings guidance.
e.l.f. Beauty – The cosmetics company beat estimates by nine cents with adjusted quarterly profit of 17 cents per share, and revenue also came in above forecasts. The company also raised the lower end of its full year earnings guidance outlook.
Marriott – Marriott reported adjusted quarterly profit of $1.70 per share, beating the consensus estimate of $1.31 per share, However, the hotel operator's revenue was below forecasts, and it also cut its current quarter forecast for the key REVPAR (revenue per available room) metric due to weak demand in North America.
Avis Budget – Avis Budget missed estimates by 21 cents with adjusted quarterly profit of $3.33 per share, and the car rental company's revenue also came in slightly below forecasts. Avis budget also narrowed its full year revenue and earnings guidance.
Toyota Motor – Toyota boosted its full year operating profit forecast, thanks to the positive impact of a weaker yen. Profit was up by 11 percent in the automaker's most recent quarter, though that was shy of analyst forecasts.
– GE announced the sale of its commercial lighting unit to private equity firm American Industrial Partners for an undisclosed price.
Pandora Media – Pandora beat estimates on both the top and bottom lines for its latest quarter, on the strength of a 49 percent jump in subscription revenue. The streaming music service is in the process of being bought by satellite radio operator SiriusXM.
Sanofi, Regeneron Pharmaceuticals – The Food and Drug Administration has granted expedited review for Dupixent, an eczema treatment that is being jointly developed by the two drugmakers. Separately, Regeneron earned $5.17 per share for its latest quarter, beating consensus forecasts by four cents.
Brookdale Senior Living – The operator of senior living facilities lost 20 cents per share for the third quarter, less than half the 44 cents that analysts were anticipating, and also reported slightly better than expected revenue. The company's bottom line benefited from a drop in expenses, and Brookdale said its occupancy growth was better than the industry average.
Altice US – The cable system operator reported quarterly profit of four cents per share, beating the consensus analyst estimate of a breakeven quarter. Altice's revenue also beat forecasts, helped by growth in its residential business.