Friday, September 25, 2015

Early movers: BBRY, FINL, SPLS, GOOGL, AAPL, MMM, PYPL & more

Traders work the floor of the New York Stock Exchange.
Getty Images

Check out which companies are making headlines before the bell:
BlackBerry—The handset maker lost an adjusted 13 cents per share for its latest quarter, 4 cents wider than estimates. Its revenue was well short of forecasts, and it projected "modest" sequential quarterly revenue growth for the rest of fiscal 2016.
Finish Line—The athletic apparel and footwear retailer matched estimates with adjusted quarterly profit of 57 cents per share. Revenue missed analyst forecasts, however, as same-store sales rose 1.5 percent.
PayPal—Canaccord began coverage on the digital payment services company with a "buy" rating, saying PayPal has a steady growth trajectory given the continuing shift to digital payment.
Box—Canaccord upgraded the cloud services company's stock to "buy" from "hold." It points to a recent slide in the share price and functionality additions that make the company's cloud services more attractive.
3M—Credit Suisse upgraded 3M shares to "outperform" from "neutral," citing the recent drop in the share price and a more favorable outlook compared to its defensive stock peers.
Staples—European regulators have opened an investigation into the company's planned purchase of rival office products retailer Office Depot, on competitive concerns. A decision will be made on whether to allow the deal by February 10.
Coca-Cola—Deutsche Bank reinstated coverage on Coke with a "buy" rating, pointing to a good price and product mix in developed markets and effective adjustment to changing consumer preferences.
Big Lots—The discount retailer earned a "buy" rating in new coverage at Citi, which likes the company's new management team and its prospects for driving earnings growth.
Apple—Apple's new iPhone 6s and iPhone 6s Plus will hit stores today, with analysts expecting sales of up to 13 million phones over this first weekend of sales.
Google—Google is under antitrust scrutiny in the US, according to a Bloomberg report. Regulators are looking at the possibility that Google stifled access to its Android operating system for competitors.
Intel—The chipmaker was upgraded to "market perform" from "market underperform" at JMP Securities, on prospects for an improved outlook as the year draws to a close.
Nike—Nike earned $1.34 per share for its latest quarter, 15 cents above analyst forecasts, while revenue of $8.41 billion beat estimates of just under $8 billion. The athletic footwear and apparel maker was helped by higher prices and strength in the China market.
Pier 1 Imports—Pier 1 posted lower than expected results for its latest quarter, and the household goods retailer also cut its earnings forecast for the full year. Pier 1 said profit margins have been hurt by increased promotional and clearance activity.
Bed Bath & Beyond—The company matched estimates with quarterly profit of $1.21 per share, but sales were below estimates, and same-store sales increased by a lower than expected 0.7 percent compared to the prior year. The company's margins have been pressured in recent months by increased promotions, and higher spending on online advertising and technology upgrades.
Marvell Technology Group—Marvell is cutting its global workforce by 17 percent, with the chipmaker taking a charge of up to $130 million as a result. Marvell expects to save up to $220 million per year following the restructuring.
Amazon.com—The company announced plans to launch its Amazon Instant Video service in Japan, along with its Fire TV line of products.
Reynolds American—The tobacco producer is in talks to sell $5 billion in assets to Japan Tobacco, according to a Bloomberg report.

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