Early movers: JOY, SNAP, SHAK, BOX, AVGO, JUNO & more
Check out which companies are making headlines before the bell:
— The mining equipment maker lost an adjusted 6 cents per share for its latest quarter, 3 cents a share less than analysts had been anticipating. Revenue was below Street forecasts, although the company said its cash flow is improving as commodity prices rebound.
— The Snapchat parent priced its initial public offering at $17 per share, above the expected range of $14 to $16 a share. That values the company at about $24 billion, in the biggest technology IPO since went public in 2014.
— Shake Shack reported adjusted quarterly profit of 9 cents per share, in line with estimates, while the restaurant chain's revenue beat forecasts. Comparable-store sales were less than analysts had been expecting, but the company did raise its sales guidance for the full year.
— Box lost 10 cents per share for its latest quarter, a loss that was 4 cents a share smaller than analysts had been anticipating. The cloud software provider did see revenue and billings beat estimates, and its cash flow has turned positive for the first time since it went public.
— Broadcom came in 15 cents above estimates, with adjusted quarterly earnings of $3.63 per share. The chip maker's revenue was slightly above Street projections. The company, which is a major supplier for , said it expects healthy demand for its products to continue.
— The drugmaker ended development of an experimental leukemia drug, after the treatment's toxicity led to a number of patient deaths. Juno had partnered with in development of the treatment.
— CEO Marissa Mayer will not get a 2016 cash bonus or a 2017 annual equity award, following an investigation into Yahoo's 2014 security breach. The probe found that Mayer and other senior executives did not "properly comprehend or investigate" the breach that led to more than 500 million accounts being compromised.
— The oilfield services company delayed its annual 10-K filing, saying it needed more time to complete an internal investigation of its financial reporting procedures.
— The company reported its first decline in annual profit since it was formed more than a decade ago. The beer brewer's results were hurt by depressed beer sales in Brazil, its second-largest market.
— The financial services giant announced new perks for holders of its high-end Platinum card, amid increasing competition in that part of the market from players like and . Among them: $200 a year in Uber rides, increased access to airport lounges, and higher credits for spending. The card's annual fee is increasing to $550 from $450.
— The food services company was added to the "Conviction Buy" list at Goldman Sachs. Goldman cites new contract wins and expanding profit margins, among other factors.
— The Victoria's Secret parent reported a February same-store sales drop of 10 percent, wider than the 4.7 percent consensus estimate of analysts polled by Thomson Reuters.