Check out the companies making headlines before the bell:
Ciena – The networking equipment maker reported adjusted quarterly earnings of 71 cents per share, 13 cents a share above estimates. Revenue also beat Wall Street predictions, and Ciena said it is on track for substantial revenue growth and increased profitability.
Lands’ End – The apparel retailer lost 9 cents per share for its latest quarter, smaller than the 19 cents a share loss that Wall Street analysts had been forecasting. Revenue beat estimates as well as same-store sales at U.S. company-operated stores jumped 7.5%.
Signet Jewelers – The jewelry retailer reported adjusted quarterly profit of 51 cents per share, well above the 24 cents a share consensus estimate. Revenue topped forecasts, and a comparable sales drop of 1.5% was less than half the 3.1% decline forecast by analysts who were surveyed by Refinitiv.
Comcast – The NBCUniversal and CNBC parent was upgraded to “outperform” from “perform” at Oppenheimer, which pointed to strength in broadband and an underestimation by Wall Street of ad revenues.
Prudential Financial – The nation’s largest life insurance company is buying online startup Assurance IQ, a direct-to-consumer insurance platform, for $2.35 billion.
Lyft – Deutsche Bank initiated coverage of the ride-hailing service with a “buy” rating, saying the stock may be bottoming after hitting a record low and pointing to what it calls “robust” second-quarter results.
Slack Technologies – Slack reported an adjusted quarterly loss of 14 cents per share, smaller than the 18 cents a share loss expected by Wall Street. The workplace messaging service also saw revenue come in above analysts’ forecasts, but the shares are under pressure after Slack forecast a larger-than-expected loss for the current quarter.
Palo Alto Networks – Palo Alto beat Street estimates by 5 cents a share, with adjusted quarterly profit of $1.47 per share. Revenue exceeded estimates, as well. The cybersecurity firm issued a fiscal 2020 profit forecast below Wall Street estimates, however, even as it sees strong demand for its cloud security business.
Twitter – Twitter temporarily turned off the ability to send tweets by text message, following some high profile account hacks that were apparently caused by mobile security flaws.
Mallinckrodt – Mallinckrodt has hired restructuring firms and is considering the possibility of a bankruptcy filing, according to a Bloomberg report. The drugmaker is among opioid makers that have been targeted by lawsuits.
General Motors – GM CEO Mary Barra will meet with President Donald Trump at White House today, with trade, contract talks, and fuel efficiency standards among the items said to be on the agenda. That follows criticism of GM by the president last week over the automaker’s China operations.
T-Mobile US – T-Mobile was sued by New York City, which accuses the mobile carrier of engaging in “rampant sales abuse” of customers of its lower priced Metro brand.
CVS Health — A Justice Department settlement that allowed CVS to complete its acquisition of insurer Aetna has been approved by U.S. District Judge Richard Leon. The judge had been examining whether the settlement did enough to protect competition and consumers.
Cloudera – Cloudera lost an adjusted 2 cents per share for its second quarter, smaller than the 10 cents a share loss anticipated by Wall Street. The cloud software company’s revenue was also well above Street projections. Cloudera raised its fiscal 2020 revenue guidance due to higher subscription sales.
Match Group – The parent of Tinder and other dating services was upgraded to “buy” from “hold” at SunTrust Robinson Humphrey, which points to positive app traffic and revenue trends, among other factors.