Check out the companies producing headlines before the bell:
HP Inc. – The printer in addition to computer maker will be expecting to cut up to 5,000 jobs by the end of fiscal 2019 as part of its restructuring program.
Signet Jewelers – The jewelry retailer earned 10 cents per share for its latest quarter, compared to a consensus forecast of a 9 cents per share loss. Revenue beat estimates, in addition to a comparable-store sales decline of 0.1 percent was smaller than the 2.8 percent drop which analysts had anticipated.
Cigna – The health insurer was upgraded to “buy” via “neutral” at Goldman Sachs, which also raised its 12-month cost target on the stock to $212 per share via $193 a share. Goldman feels Cigna will be positioned to continue to enhance market share gains inside commercial risk market, among different factors.
Twitter – The company announced its intent to offer $1 billion in convertible notes due in 2024. The notes could be convertible into cash, shares, or a combination of the two at Twitter’s discretion.
Ambarella – Ambarella reported adjusted quarterly profit of 13 cents per share, beating consensus estimates by four cents, while the camera component supplier also saw revenue beat forecasts. However, Ambarella also gave weaker than expected current quarter revenue guidance.
Brown-Forman – The spirits producer earned 23 cents per share for its latest quarter, one cent above estimates. Revenue, however, did fall below Street forecasts.
Tesla — CEO Elon Musk said the automaker was “quite likely” to be building 5,000 product 3 cars per week by the end of June. Musk made his comments at Tesla’s annual shareholder meeting.
Honda – Honda will begin selling its six-seat business jet known as the “Hondajet” in Japan next year, as This particular tries to expand the global market for the jet. The aircraft will be currently sold in North America, Europe, in addition to the Middle East.
Facebook – Facebook said This particular has data-sharing deals with four Chinese companies which have sparked US security concerns inside past: smartphone makers Huawei, OPPO, in addition to TCL, as well as computer maker Lenovo. However, Facebook said This particular has either wound down or will be inside process of winding those partnerships down, in addition to denies reports which data via a user’s friends could be accessed without explicit permission.
Northrop Grumman – The defense contractor won approval via US regulators for its deal to buy rocket component supplier Orbital ATK for $7.8 billion. Based on the completion of the deal, the company raised its full-year revenue outlook.
Valeant Pharmaceuticals – The drug maker’s stock was upgraded to “overweight” via “equal weight” at Barclays, which said Valeant’s business has at This particular point stabilized to the point where its completely new product pipeline will provide growth.
Tronc – The publishing company’s top shareholder – former chairman Michael Ferro Jr.’s Merrick Venture Management – has canceled its deal to sell its stake to McCormick Media. The fund said which McCormick had breached its obligations, although This particular did not detail what constituted which breach.
Yelp – Yelp was downgraded to “sector weight” via “overweight” at Keybanc, which pointed to signs of weakening customer engagement for the consumer review website.
Ollie’s Bargain Outlet – The discount retailer beat estimates by four cents with quarterly profit of 41 cents per share, while revenue beat estimates as well. Profits were helped by completely new store openings, in addition to Ollie’s also raised its full-year outlook.
Macy’s, Kohl’s – Atlantic Equities downgraded both retailers, dropping Macy’s to “neutral” via “overweight, in addition to Kohl’s to “underweight” via “neutral”. The firm still expects solid results via both, yet said higher expectations are at This particular point reflected inside share prices.