Stocks making the biggest moves premarket: WMT, BBY, VIAB, SJM, P, CSCO & more
Check out which companies are making headlines before the bell:
Wal-Mart – The retail giant earned an adjusted $1 per share for the third quarter, beating estimates by 3 cents a share. Revenue also beat forecasts, with comparable-store sales rising more than analysts had anticipated.
Best Buy – The electronics retailer matched Street forecasts with adjusted quarterly earnings of 78 cents per share, but revenue and comparable-store sales fell below estimates. Best Buy's results were impacted by the quarter's hurricanes, among other factors.
Viacom – The media company missed estimates by 9 cents a share, with adjusted quarterly profit of 77 cents per share. Revenue topped forecasts. Viacom's results were impacted by the loss of some cable subscribers, although it did post a revenue rise on the strength of improved theatrical results.
J.M. Smucker – The food company came in 12 cents a share above estimates, with adjusted quarterly profit of $2.02 per share. Revenue beat expectations, as well. Smucker also raised the upper end of its full-year guidance by 5 cents, now forecasting adjusted earnings of $7.75 to $7.95 per share compared to the consensus estimate of $7.72. Results were helped by improved results for pet food and Dunkin' Donuts coffee, among other factors.
Rockwell Automation – Emerson Electric has raised its bid for Rockwell, now offering $225 per share in cash and stock, or a total of about $29 billion. The prior offer, rejected by Rockwell, was worth $215 a share.
Pandora – BMO upgraded the online music service to "outperform" from "market perform," noting better-than-expected subscriber numbers and positive results from audio ads, among other factors.
Cisco Systems — The networking equipment maker reported adjusted quarterly earnings of 61 cents per share, 1 cent a share above estimates. Revenue also beat forecasts, and Cisco also gave an upbeat forecast, thanks in part to a jump in sales of software applications.
Procter & Gamble – The company's proxy fight with investor Nelson Peltz re-emerged as a recount showed Peltz had won by 43,000 votes out of 2.6 billion. The consumer products giant has not yet conceded, however, and said those results are still subject to review and a possible challenge.
L Brands – L Brands reported quarterly profit that was in line with Wall Street forecasts at an adjusted 30 cents per share. The Victoria's Secret parent's revenue topped forecasts, however the company reported a drop in comparable-store sales, including a 4 percent decline at Victoria's Secret.
RH – RH raised its current-quarter guidance to an adjusted $1.02 to $1.04 per share, compared to the consensus estimate of 80 cents a share. The operator of Restoration Hardware furniture stores said the increased forecast reflects the success of its new membership model and more efficient operations.
NetApp – NetApp beat estimates by 12 cents a share, with quarterly profit of 81 cents per share. The data storage solutions company's revenue also topped Street forecasts and NetApp gave an upbeat current-quarter outlook.
Mattel – Mattel has rejected Hasbro's latest takeover approach, according to a Reuters report. Mattel is said to have told its rival toymaker that its bid undervalues the company and also does not take into account possible antitrust issues with regulators.
GlaxoSmithKline – The drugmaker won approval from European regulators for its new three-in-one inhaler drug for chronic lung disease.
Time Inc. – Time is in talks to sell itself to Meredith Corp., according to multiple reports, with several banks and the billionaire Koch brothers set to lend financial support to Meredith for its pursuit of its rival magazine publisher.
BHP Billiton – BHP is hoping to sell off its U.S. shale business in two years, with the mining giant also seeking to sell its Australian nickel business. The intention to divest those assets came at BHP's annual meeting in Melbourne, Australia.
Dollar General – Dollar General was upgraded to "buy" from "hold" at Deutsche Bank, which thinks the discount retailer's third-quarter comparable sales will come in above the Street consensus of a 2.6 percent gain and also sees momentum continuing into 2018.
Regions Financial – Regions was added to the "Conviction Buy" list at Goldman Sachs, which sees the regional bank performing better than consensus forecasts.