Early movers: BIG, MYL, FCX, BGS, FB, ADSK & more
Check out which companies are making headlines before the bell:
Big Lots – The discount retailer reported adjusted quarterly profit of 40 cents per share, 6 cents above estimates. Revenue beat forecasts as well, and Big Lots also raised its full-year forecast as improvements in its merchandise mix help results.
Mylan – Mylan shareholders overwhelmingly approved the drug maker's proposed acquisition of Perrigo.
Freeport-McMoRan - Investor Carl Icahn disclosed an 8.5 percent stake in the mining company. Icahn considers the shares undervalued and plans to have discussions with company management about its spending, capital structure, and other issues.
B&G Foods – B&G is near a deal to buy the Green Giant frozen and canned vegetable business from General Mills, according to a Reuters report.
Facebook – Facebook reached a milestone, with CEO Mark Zuckerberg announcing that one billion users logged into the social network on Monday. That's the first time that number has ever been reached.
Autodesk – Autodesk earned an adjusted 19 cents per share for its latest quarter, 2 cents above estimates. But revenue was below estimates for the maker of design software, and it issued a weak outlook for the current quarter. It also cut its forecast for the full year, as it continues to transition to a subscription based model.
GameStop – GameStop beat estimates by 7 cents with quarterly profit of 31 cents per share, with revenue slightly above estimates. The video game retailer also issued upbeat revenue guidance for the second half of the year, thanks in part to an expected strong slate of new game releases.
Splunk – Splunk reported adjusted quarterly profit of 3 cents per share, 1 cent above estimates, and the data software company's revenue and current quarter guidance was also above forecasts. Sales in the most recent quarter were up 46 percent compared to a year earlier.
Smith & Wesson – Smith & Wesson came in 10 cents above estimates with adjusted quarterly profit of 10 cents per share. Revenue also beat estimates and the gun maker increased its yearly outlook. Analysts say sales increases may be tied to concerns about tighter gun laws in the near future.
Amgen – Amgen received FDA approval for its cholesterol drug Repatha.
Activision Blizzard, United Continental – The two stocks will join the S&P 500 index, with Activision joining today and United after the close of trading on September 2. They replace Pall and Hospira, which are both being acquired.
Aeropostale – Aeropostale reported a loss for the 11th straight quarter, as the teen apparel retailer instituted heavy discounts to clear inventory. It also closed a number of unprofitable stores during the quarter. Its adjusted quarterly loss of 56 cents per share was 1 cent wider than analysts had anticipated, and revenue was below forecasts as well.
Bank of New York Mellon – The bank is still working on a computer glitch that has affected the pricing of mutual funds and exchange traded funds, a problem that may extend into the weekend. BNY uses a system made by software provider SunGard.
Qihu 360 Technology – Qihu currently has a $9 billion takeover bid from an investor group, but that offer may be cut, according to the Wall Street Journal, following the recent China stock market rout. The offer on the table comes from the internet service provider's chairman and a group of investors.
Wells Fargo – The bank is the leading candidate to buy General Electric's railcar financing unit, according to Bloomberg.
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Correction: This story has been updated to reflect when Activision will be joining the S&P 500 index.