Early movers: ULTA, ZUMZ, LUV, HIBB, YUM, MTN & more
Check out which companies are making headlines before the bell:
Ulta Beauty — The beauty products retailer beat forecasts by 11 cents a share, with quarterly profit of $2.24 per share. Revenue also beat forecasts, although current quarterly earnings and revenue guidance is a bit shy of current consensus estimates. Ulta has been helped by strong same-store sales and a growing e-commerce business.
Zumiez — Zumiez came in 8 cents a share above estimates, with quarterly profit of 74 cents per share. Revenue also beat estimates, but the seller of skateboards, snowboards, and related apparel projected a current-quarter loss that is larger than the Street had been anticipating. Zumiez is optimistic about the year ahead, although it does mention navigating the headwinds facing the retail industry in its latest report.
Southwest Airlines — The airline said revenue passenger miles rose 1.1 percent in February compared to a year earlier. Southwest also mentioned unexpected softness during the second half of February that has since rebounded.
Hibbett Sports — The sporting goods retailer matched estimates, with quarterly profit of 54 cents per share. Revenue missed forecasts, however, and same-store sales fell 2.2 percent compared to consensus Thomson Reuters estimates of down 1.1 percent. The company said its results did not meet its expectations, although it was pleased by the strength of its footwear business.
Yum Brands — The operator of KFC, Taco Bell, and Pizza Hut was upgraded to "outperform" at Evercore, which cites a recent pullback in the share price as well as increased visibility into multi-year earnings growth.
Vail Resorts — The resort operator earned $3.63 per share for its fiscal second quarter, beating estimates of $3.41 a share. It also saw revenue come in above estimates, and raised its quarterly dividend by 30 percent to just above $1.05 per share. Higher ticket prices helped offset a slow start to the winter season in some of Vail's operations, and the company said visits have picked up significantly.
The Buckle — The apparel, accessories, and footwear retailer fell 6 cents a share short of estimates, with quarterly profit of 74 cents per share. Revenue missed estimates, as well. Same-store sales fell 16.1 percent, a larger drop than the 14.3 percent Thomson Reuters consensus estimate. The Buckle cites a challenging retail environment as a key factor in its results.
Winnebago — BMO downgraded the recreational vehicle maker to "market perform" from "outperform," after the share price nearly doubled over the past year. BMO said this is a good time to take profits, given a number of headwinds ahead for the company.
VeriFone Systems — VeriFone earned an adjusted 21 cents per share for its latest quarter, 1 cent a share above estimates. The payment systems company also beat on the top line. VeriFone saw particularly strong results in the Asia Pacific region.
Finisar — Finisar fell a penny a share short of expectations, with adjusted quarterly profit of 61 cents per share. The maker of voice and data communications systems saw revenue miss estimates, as well. It also gave a weaker-than-expected outlook for the current quarter.
UBS — UBS cut Chief Executive Sergio Ermotti's total compensation by 4.2 percent to $13.5 million for 2016, after the Switzerland-based bank saw profit fall by nearly half compared to a year earlier.
PPG — PPG is reportedly preparing a new bid for Dutch paints and coatings maker Akzo Nobel, after Akzo rejected PPG's original $22.1 billion cash and stock bid. The Dutch financial newspaper Het Fiancieele Dagblad quotes a PPG source, who didn't provide specific details on a revised bid.
AT&T — AT&T is said to be near a settlement with the Justice Department, involving a case where its DirecTV unit is accused of colluding with other pay-TV providers to block carriage of the channel that broadcasts Los Angeles Dodger games. The Wall Street Journal reports that a settlement could come within the next two weeks.
Viacom, Lions Gate — The two companies are reportedly near a deal to sell out their stakes in pay-TV channel Epix to partner MGM Holdings, according to The Wall Street Journal. MGM would reportedly pay a little more than $1 billion for the 81 percent of Epix it doesn't already own.
Kimberly-Clark — Kimberly-Clark was downgraded to "hold" from "buy" at Societe Generale, which points to price competition for the maker of Kleenex and numerous other consumer goods.
El Pollo Loco — The restaurant chain earned an adjusted 12 cents per share for its latest quarter, missing estimates by a penny a share. Revenue exceeded forecasts, however. Comparable restaurant sales did fall more than expected, and the company's earnings forecast for the full year also came in below estimates. Separately, CEO Stephen Sather is planning to retire on or before the end of this year.