Early movers: EXPE, LNKD, DIS, GES, HPQ & more
Check out which companies are making headlines before the bell:
Expedia–Barclays began coverage on Expedia with an "overweight" rating, saying its relative outperformance is likely to continue as it folds in new acquisitions. At the same time, the firm rated Priceline Group "equal-weight" and TripAdvisor in new coverage.
LinkedIn–JPMorgan Chase added the business social network to its U.S. Equity Analyst Focus List, saying recently lowered guidance reflects issues that are both short-term and fixable.
AT&T–Jefferies added the telecom giant's stock to its "franchise pick" list, saying the Street has an overly bearish view on AT&T and that the acquisition of DirecTV should relieve a number of investor concerns.
CBS, Comcast, Walt Disney, 21st Century Fox, Time Warner, Viacom–These companies got "overweight" ratings in new Credit Suisse coverage of the U.S. media and entertainment sector, saying the shift to online video consumption will favor those who create the best content. (Disclosure: Comcast is the parent company of NBCUniversal and CNBC.)
Energizer Holdings-The consumer products maker announced a new 10 million share stock buyback program. The move comes ahead of the company planned split of its personal care products business into a new company called Edgewell Personal Care.
Guess–Guess earned four cents per share for its latest quarter, compared to analyst forecasts for a five cent per share loss. Revenue did come in light, and the apparel maker gave downbeat guidance for the current quarter, but did raise its full-year outlook. Guess is among the companies that have been hit by the impact of a strong dollar.
G-III Apparel–G-III beat estimates by eight cents with quarterly profit of 15 cents per share, with revenue beating estimates as well. The apparel maker also raised its full year earnings and revenue guidance.
Hewlett-Packard–HP has set November 1 as the date for its planned spin-off of its personal computer and printer business from its hardware and services operations.
Lumber Liquidators–Lumber Liquidators said chief compliance officer Ray Cotton has left the company. Lumber Liquidators has been embroiled in controversy on concerns about chemicals contained in its China-made flooring materials.
Synchronoss Technologies–Synchronoss is exploring a possible sale, according to Dow Jones, which said the software company is working with advisors and has drawn interest from private equity firms.
Cinemark–Cinemark received a formal inquiry from the Justice Department in an ongoing probe of movie theater chains. Rival chains Regal Entertainment and AMC Entertainment had previously received similar notices.
Teva Pharmaceutical–Teva is set to raise its stake in Mylan, according to Reuters. Teva has a 1.8 percent stake in Mylan, and has been rebuffed in its bid to buy its rival drug maker.
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