Home Depot, Palo Alto Networks, Shopify, AMC

Take a look at the companies that are making headlines before the bell rings:

Home Depot (HD) – The home improvement retailer beat quarterly estimates by 3 cents with earnings of $ 2.65 per share. Revenues were also above estimates. Comparable store sales increased 24.5% during the fourth quarter, more than the consensus estimate of 19.2% from analysts surveyed by FactSet. However, Home Depot is not providing guidance for 2021 due to uncertainty related to the pandemic. The shares fell 2.7% before trading.

Macy’s (M) – The retailer reported an adjusted quarterly profit of 80 cents a share, well above the consensus estimate of 12 cents, and revenue also beat Wall Street forecasts. Comparable store sales fell 17.1% in property + license, less than the 21.3% drop anticipated by analysts surveyed by Refinitiv. Macy’s shares were up 2.2% in pre-market share.

Tesla (TSLA) – Tesla shares fell more than 5% in pre-market trading on Tuesday, after suffering its biggest single-day loss in months on Monday. Wedbush analyst Dan Ives cautions that Tesla’s share price is now directly tied to the price of bitcoin after the electric vehicle maker’s investment in the cryptocurrency.

Palo Alto Networks (PANW) – Palo Alto Networks reported adjusted quarterly earnings of $ 1.55 per share, 12 cents above estimates, and the cybersecurity company’s revenue also beat forecasts. Palo Alto issued a mostly weaker-than-expected current quarter earnings outlook but noted the opportunities provided by the massive SolarWinds hack. The shares fell 3.7% before trading.

Churchill Capital IV (CCIV) – Lucid Motors will go public through a merger with the blank check company in a deal that values ​​the combination at $ 24 billion. The deal would inject $ 4.4 billion into the California-based manufacturer of luxury electric vehicles. Churchill Capital shares fell 34.5% in premarket trading.

InterContinental Hotels Group (IHG): IHG reported an operating loss of $ 153 million for 2020, affected by the Covid-19 pandemic and the resulting lockdowns. However, the company said that its Holiday Inn Express brand performed better in key markets and that global travel is beginning to rebound. The shares were up 1.2% before trading.

Johnson & Johnson (JNJ) – J&J is setting aside $ 3.9 billion in relation to talc-related litigation, according to an SEC file. In November, the company said it would set aside $ 2.1 billion for talc cases, as it faces thousands of lawsuits claiming its talc products cause cancer.

Occidental Petroleum (OXY) – Occidental lost 78 cents adjusted per share in its most recent quarter, more than the 59 cent loss analysts anticipated. Revenues also missed forecasts. The failure occurred despite the rebound in oil and gas prices. The shares fell 2.2% before trading.

Shopify (SHOP) – Shopify traded a 1.18 million share offering at $ 1.315 per share, and the e-commerce platform provider expects to raise around $ 1.55 billion from the sale. Shopify plans to use the profits to strengthen its balance sheet. The shares fell 5.5% in pre-trade stock.

Carnival (CCL) – Cruise line operator’s stock fell 3.4% pre-market after it priced an offering of around 40.45 million common shares at $ 25.10 per share , and the cruise line operator sought to raise about $ 1 billion to be used for general corporate purposes. The cruise industry was shut down during the pandemic.

RealReal (REAL): RealReal lost 49 adjusted cents per share in its most recent quarter and posted revenue that also fell short of analyst forecasts. The second-hand luxury goods seller said 2020 was a challenging year, with the pandemic “temporarily interrupting” its path to profitability. The stock fell 10.8% before trading.

ZoomInfo (ZI) – ZoomInfo was up 8.1% pre-market after beating estimates by 2 cents with adjusted quarterly earnings of 12 cents a share. The marketing database provider’s revenue also exceeded expectations. ZoomInfo also provided an optimistic outlook for the current quarter and the full year.

AMC Entertainment (AMC) – Shares of the theater operator rose 3.4% pre-market on news that New York City theaters will reopen with limited capacity on March 5.

Wells Fargo (WFC) – The bank announced an agreement to sell its Wells Fargo Asset Management unit to private equity firms GTCR and Reverence Capital for $ 2.1 billion. Wells Fargo will retain a 9.9% stake in the business.

Dollar General (DG) – Dollar General is taking steps to find a possible successor to CEO Todd Vasos, according to people familiar with the matter who spoke to Reuters. Sources say Vasos had not communicated any intention to leave the discount retailer when its contract expires in June, calling the process “good governance”.

—CNBC’s Sara Salinas contributed to this report.


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