Check out the companies that make headlines before the clock:
Home Depot (HD) – The home improvement retailer beat quarterly estimates by 3 cents with earnings of $ 2.65 per share. The revenue was also estimated above. Comparable store sales rose 24.5% during the fourth quarter, more than the 19.2% consensus estimate of analysts surveyed by FactSet. However, Home Depot is not providing guidance for 2021, due to pandemic-related uncertainty. Shares fell 2.7% before the market.
Macy’s (M) – The retailer reported an adjusted quarterly earnings of 80 cents per share, well above the 12-cent consensus estimate, with revenue also surpassing Wall Street forecasts. Comparable store sales fell 17.1% on a licensing basis, less than the 21.3% drop expected by analysts interviewed by Refinitiv. Macy’s share rose 2.2% in the market action.
Tesla (TSLA) – Tesla shares fell more than 5% in pre-trading on Tuesday, after suffering its biggest one-day loss in months on Monday. Wedbush analyst Dan Ives warns Tesla’s share price is now directly linked to the price of bitcoin following the investment of the electric vehicle manufacturer in the crypto-currency.
Palo Alto Networks (PANW) – Palo Alto Networks reported adjusted quarterly earnings of $ 1.55 per share, 12 cents above estimate, and the cybersecurity company’s revenue also beats the forecasts. Palo Alto has issued a mostly weaker-than-expected revenue outlook for the current quarter, but has taken note of the opportunities offered by the huge SolarWinds hack. The stock declined 3.7% before the market.
Churchill Capital IV (CCIV) – Lucid Motors will be announced through a merger with the blankcheck company in an agreement that values the combination at $ 24 billion. The deal would add $ 4.4 billion in luxury electric vehicle manufacturers in California. Churchill Capital shares fell 34.5% in pre-trading.
InterContinental Hotels Group (IHG) – IHG reported a $ 153 million operating loss for 2020, hurt by the Covid-19 pandemic and the consequent shutdown. However, the company said that its Holiday Inn Express brand is performing better in key markets and that world travel is starting to recover. Shares rose 1.2% ahead of the market.
Johnson & Johnson (JNJ) – J&J sets aside $ 3.9 billion in talk-related litigation, according to an SEC filing. In November, the company said it would set aside $ 2.1 billion for talk shows because it faces thousands of lawsuits claiming its talc products cause cancer.
Occidental Petroleum (OXY) – Occidental lost an adjusted 78 cents a share for its most recent quarter, wider than the 59-cent loss analysts had expected. Revenue also missed forecasts. The fog came despite a recovery in oil and gas prices. Shares fell 2.2% ahead of market.
Shopify (SHOP) – Shopify has priced a $ 1.18 million share offering at $ 1,315 per share, and the e-commerce platform provider expects to raise about $ 1.55 billion from the sale. Shopify plans to use the proceeds to strengthen its balance sheet. Shares fell 5.5% in action before the market.
Carnival (CCL) – Cruise line operator shares fell 3.4% ahead of the market after offering an offer of approximately 40.45 million ordinary shares at $ 25.10 per share, and the cruise line operator wanted to raised approximately $ 1 billion to be used for general corporate purposes. The cruise industry was shut down during the pandemic.
The RealReal (REAL) – The RealReal lost an adjusted 49 cents per share for its most recent quarter, earning revenue that did not meet analysts’ forecasts. According to the second-hand luxury goods seller, 2020 was a challenging year, with the pandemic temporarily disrupting its path to profitability. The stock fell 10.8% before the market.
ZoomInfo (ZI) – ZoomInfo increased its pre-sales by 8.1% after beating estimates by 2 cents, with adjusted quarterly earnings of 12 cents per share. The provider of the marketing database also defeats the predictions. ZoomInfo also provided an optimal outlook for the current quarter and year-round.
AMC Entertainment (AMC) – The shares of the movie theater operator rose 3.4% ahead of the news that the cinemas in New York will reopen with limited capacity on March 5.
Wells Fargo (WFC) – The bank has announced a deal 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 potential successor to CEO Todd Vasos, according to people familiar with Reuters. According to the sources, Vasos made no intention of leaving the discount retailer when its contract expired in June, calling the process ‘good governance’.
—CNBC’s Sara Salinas contributed to this report.