Monday, March 20, 2023
Homemarket insiderEarly movers: KORS, BP, BSX, TGT, TTWO, YUM & more

Early movers: KORS, BP, BSX, TGT, TTWO, YUM & more

Check out which companies are making headlines before the bell:

Michael Kors–The luxury goods maker earned $1.11 per share for the third quarter, well above estimates of 86 cents per share, with revenue well above estimates as well on the strength of a better than 27 percent increase in same-store sales.

Archer Daniels Midland–The grain processor earned 95 cents per share for the fourth quarter, excluding certain items, ten cents above estimates. Revenue, however, was slightly below consensus, and analysts remain concerned about a possible reduced ethanol mandate by the U.S. government.

International Paper–The company earned 83 cents per share for its fourth quarter, falling four cents short of estimates, with revenue short of consensus as well. Sales did nearly double from a year earlier, due to strong sales of its corrugated boxes to retail customers.

Boston Scientific–The medical products company earned 21 cents per share for the fourth quarter, eight cents above estimates. It also gave an upbeat view for the current quarter and the full year.

Becton Dickinson–The medical products maker reported fiscal first quarter profit of $1.37 per share, excluding certain items, seven cents above estimates, with revenue also above consensus. The company also raised the low end of its full-year outlook, despite rising operating costs.

Eaton Corporation–The power management company reported fourth quarter profit of $1.08 per share, excluding certain items, two cents above estimates. The company does say its 2013 sales increase was largely the result of acquisitions, due to sluggish growth in its markets.

Gap–The retailer's shares were upgraded to "buy" from "neutral" at UBS, which said a positive multi-faceted transformation is underway and that Gap should deliver earnings growth of 15 percent or more over the next three years.

LinkedIn–Evercore Partners cut earnings estimates for the business networking service, saying two of LinkedIn's three segments are showing signs of a slowdown this quarter.

OpenTable–Citi upgraded the restaurant reservation service's shares to "neutral" from "sell", citing a solid start to 2014, as well as its conclusion that increased marketing spending will have an immaterial effect on earnings.

Symantec–The maker of anti-virus and other software may have to pay a fine related to its sales and pricing practices, according to an SEC filing.

Take-Two Interactive–Take-Two reported fiscal third quarter profit of $1.70 per share, excluding items, beating estimates of $1.37. Revenue was well above estimates as well, as is its full-year guidance. The video game company was helped by continued strong sales for its "Grand Theft Auto V" as well as other titles.

Yum Brands–Yum reported fourth quarter profit of 86 cents per share, excluding certain items, six cents above estimates. The restaurant operator's revenue was below consensus, but the company did say it's making progress in reversing a sales decline in the China market.

Hartford Financial–Hartford beat estimates by four cents with fourth quarter profit of 94 cents per share, excluding certain items, with revenue also above estimates. The insurer's results were aided by fewer disaster claims, and the company also announced a $2 billion share buyback.

Anadarko Petroleum–The oil exploration company earned 74 cents per share for the fourth quarter, excluding certain items, falling short of estimates by 16 cents. The shortfall comes even with the exclusion of contingent losses related to legal disputes surrounding its 2006 purchase of Kerr-McGee.

Toyota Motor–The automaker posted better than expected fiscal third quarter profits, as well as raising its outlook for the year.

Arm Holdings –The chip maker missed fourth quarter estimates for royalty revenues, because of slower sales growth for top smartphone makers Apple and Samsung. ARM's chips are used in iPhones and Samsung's Galaxy S4, as well as many other smart phones.

Target–The retailer is accelerating a move to implement the use of chip-enabled smart cards, following the recent data breach. Chief Financial Officer John Mulligan wrote about the initiative in an article in the Monday In The Hill newspaper, ahead of his appearance before the Senate Judiciary Committee today.

BP–The oil giant reported a 30 percent drop in fourth quarter profits, due to the impact of asset sales following the 2010 Gulf oil spill.

By CNBC's Peter Schacknow

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