Check out which companies are making headlines before the bell:
Best Buy – The electronics retailer reported a blowout quarter, swamping estimates by 20 cents with adjusted quarterly profit of 60 cents per share. Revenue also beat estimates, and Best Buy posted an unexpected increase in U.S. same-store sales.
Sears Holdings – The retailer posted a quarterly loss of $2.15 per share, smaller than the $3.05 per share loss that analysts were expecting. Revenue beat forecasts, and the same-store sales drop of 11.9 percent was slightly smaller than the 12 percent consensus forecast. Sears said it faces challenging conditions but that it is showing its commitment to returning itself to financial stability.
Hormel – The maker of Spam and Jennie-O turkey products reported quarterly profit of 39 cents per share, missing estimates by a penny, with revenue also falling below Street forecasts. Hormel said challenging conditions in the turkey industry were among the negative factors impacting its results.
Live Nation Entertainment – Guggenheim began coverage on the concert promoter with a “buy” rating, saying it was poised to capitalize on a robust global concerts market.
Medtronic – The maker of medical devices came in 2 cents above estimates with adjusted quarterly profit of $1.33 per share, while revenue beat forecasts as well. Medtronic saw improved sales in all its businesses during the quarter.
HP – The PC and printer maker reported adjusted quarterly profit of 40 cents per share, 1 cent above estimates. Revenue for the Hewlett-Packard spinoff also came in above forecasts as the personal computer market stabilized and the printer business improved.
Williams-Sonoma – Williams-Sonoma beat estimates by 2 cents with adjusted quarterly profit of 51 cents per share, while the housewares retailer saw revenue match analyst predictions. The company’s current quarter revenue and earnings guidance was stronger than expected.
Guess – Guess lost 24 cents per share for its latest quarter, 8 cents than Wall Street had been forecasting. The apparel maker’s revenue did beat estimates as well, but it gave weaker than expected current quarter earnings guidance.
PVH – PVH earned an adjusted $1.65 per share for the first quarter, 5 cents above estimates, and the maker of clothing brands such as Tommy Hilfiger and Calvin Klein also so revenue come in slightly above forecasts. The company also raised its full-year earnings guidance.
NetApp – NetApp reported adjusted quarterly profit of 86 cents per share, coming in 4 cents above estimates, while the data services company saw revenue beat as well. However, its current quarter earnings guidance came in below Street forecasts.
Pure Storage – Pure Storage lost 14 cents per share for the first quarter, 8 cents smaller than analysts had been predicting. The maker of flash based storage solutions also gave an upbeat revenue forecast for the current quarter.
Harley-Davidson – Harley announced plans to build a plant in Thailand to serve the Southeast Asian market. The move would help the company avoid Thailand tariffs of up to 60 percent imposed on imported motorcycles.
Bunge – Bunge shares remain on watch, as takeover talk continues to swirl around the grain processing company. Mining company Glencore acknowledged making an approach to Bunge, which responded by saying it was not in talks about any business combination.
Kellogg – The cereal maker was rated “overweight” in new coverage at Piper Jaffray, which expects accelerating earnings growth thanks to profit margin expansion. It also mentions Kellogg as a possible buyout candidate. Piper also issued “neutral” ratings on Campbell Soup, Kraft Heinz, and Mondelez and an “underweight” rating on General Mills.
PayPal – PayPal was downgraded to “hold” from “buy” at Stifel Nicolaus, based on valuation. The payment processing company’s stock is up more than 29 percent so far this year.
Philip Morris – Piper Jaffray rates the tobacco company “overweight” in new coverage, noting strong underlying earnings growth in its cigarette business, among other factors.