Friday, March 29, 2024
Homemarket insiderEarly movers: CI, ICE, SQ, ATVI, YELP, HON, WYNN, GPRO, HLF &...

Early movers: CI, ICE, SQ, ATVI, YELP, HON, WYNN, GPRO, HLF & more

Check out which companies are making headlines before the bell:

Cigna — The insurance company earned an adjusted $2.32 per share for its latest quarter, beating estimates of $2.15, though revenue was slightly below forecasts. Cigna also raised its full-year earnings forecast on strong growth for its global health care business.

IntercontinentalExchange — Goldman Sachs added the New York Stock Exchange parent to its "Conviction Buy" list, saying it represented one of the strongest earnings-growth stories in the Capital Markets sector.

Square — The mobile payments company reported a quarterly loss of 14 cents per share, 5 cents wider than estimates. Revenue did beat forecasts, and the company raised its full-year outlook. Still, investors appear to be concentrating on a surge in operating expenses.

Activision Blizzard — Activision earned an adjusted 23 cents per share for its latest quarter, nearly doubling the consensus estimate of 12 cents. Revenue was well above forecasts, and the video game maker gave upbeat guidance for the current quarter on strong sales of its "Call of Duty: Black Ops III" game, among other factors.

Yelp — Yelp surprised investors by posting an adjusted quarterly profit of 8 cents per share. Analysts had been forecasting a loss of 16 cents per share, and the online review site operator also scored a revenue beat. Yelp also raised its full-year guidance as its unique visitor metrics improved.

Honeywell — The industrial conglomerate settled a patent dispute with Alphabet's Google unit over Google's Nest Labs operation, striking a cross-licensing agreement. Nest is a maker of internet-connected thermostats.

Wynn Resorts — Wynn reported adjusted quarterly profit of $1.07 per share, well above estimates of 83 cents, though revenue merely matched forecasts. The casino operator also saw the smallest quarterly decline in Macau revenue since the third quarter of 2014, in a sign that the slump in that region may be bottoming out.

GoPro — GoPro lost 3 cents more per share for its latest quarter than the Street had been forecasting, at 63 cents per share, though the high-definition camera maker's revenue beat forecasts. GoPro said consumer demand remains "solid," but it also announced it would delay the launch of its planned drone product.

Herbalife — Herbalife said talks with the Federal Trade Commission are at an "advanced stage," although it isn't known whether litigation or a settlement will be the outcome. If a settlement is struck, Herbalife put the likely cost at $200 million. The probe centers around whether the health care products maker's business is a pyramid scheme. Separately, Herbalife reported adjusted quarterly profit of $1.36 per share, beating consensus estimates of $1.09.

News Corp. — News Corp. beat estimates by a penny with adjusted quarterly profit of 4 cents per share, with revenue essentially in line. The Wall Street Journal publisher's results were affected by a strong dollar and a drop in print ad sales.

Walgreens Boots Alliance — The drugstore chain announced a secondary offering of 15 million shares, involving shares held by affiliates of Kohlberg Kravis Roberts.

Facebook — Facebook lost the first round of a court case involving the company's use of biometric data, with a judge rejecting Facebook's request to dismiss the suit.

Medivation — Medivation could receive an improved takeover bid from French drug maker Sanofi if it agrees to engage in talks. Sanofi said if the U.S. company did not agree to negotiations, it would consider going directly to shareholders and trying to oust Medivation's board of directors. Medivation has maintained that the current Sanofi offer undervalues the company.

Weyerhaeuser — Weyerhaeuser reported adjusted quarterly profit of 24 cents per share, 3 cents above estimates, though the forest products company's revenue did fall short of Street consensus. Weyerhaeuser said it is making progress in integrating the operations of recently acquired Plum Creek Timber.

Questions? Comments? Email us at marketinsider@cnbc.com

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