Check out the companies making headlines before the bell:
Dick’s Sporting Goods — The sporting goods retailer earned an adjusted $1.07 per share for its latest quarter, beating the consensus estimate of $1.06 a share. Revenue also came in above Wall Street forecasts, but Dick’s gave a weaker-than-expected full-year earnings outlook.
Coca-Cola — The stock was downgraded to “hold” from “buy” at HSBC, citing a number of margin pressures and noting that the traditional 50-50 profit split with bottlers hails from a very different era for the company.
UnitedHealth Group — The health insurer is changing how it handles rebates from drugmakers, requiring future new employer clients to pass those rebates onto patients who take the medications.
Boeing — Boeing’s 737 MAX-8 jet is still considered airworthy by the Federal Aviation Administration, although the agency is mandating that ongoing software design changes that have been in the works for months be implemented by April. Australia is the latest country to suspend the jet from service, following a second fatal crash involving the MAX-8 over the weekend in Ethiopia.
Stitch Fix — Stitch Fix reported quarterly profit of 12 cents per share, beating the consensus estimate of 5 cents a share. The personal styling service also saw revenue come in above Street forecasts. Stitch Fix raised its full-year revenue outlook and said the number of active clients jumped 18 percent in its most recent quarter.
Biogen — The drugmaker is selling its Danish subsidiary to Japan’s Fujifilm for about $890 million. Fujifilm has made several acquisitions over the past year in an effort to bolster its health-care business.
Microsoft — Microsoft sued Taiwan’s Foxconn for allegedly failing to make manufacturing royalty payments. Foxconn responded by saying that as a contract manufacturer, it has never had to pay royalties for using Microsoft software.
Tesla — CEO Elon Musk’s lawyers say Musk’s recent tweet about production volumes did not violate a settlement with the Securities and Exchange Commission, and rejected the commission’s contention that Musk should be held in contempt of court.
Amazon.com — Amazon is reportedly lifting a restriction on third-party sellers, according to Reuters. A source said that Amazon will stop telling those sellers that they cannot offer lower prices on competing websites.
ADT — ADT reported an unexpected loss for its fourth quarter, with revenue also falling below Wall Street forecasts. The security company also gave a weaker-than-expected revenue and earnings outlook for 2019, amid intensifying competition in the industry.
Celgene — Daniel Loeb’s Third Point owns a small stake in Celgene, according to Reuters, in a bet that its planned sale to Bristol-Myers Squibb will be completed. Another hedge fund, Starboard Value, holds a stake in Bristol-Myers and has been urging shareholders to vote against what would be the largest-ever pharmaceutical deal.
Monster Beverage — BMO Capital downgraded the beverage maker to “market perform” from “outperform,” noting its premium valuation compared to its peers and saying that a cloudier outlook means that the stock price may be “as good as it gets.”
Eli Lilly — JPMorgan Chase reinstated its coverage of the drug maker with an “overweight” rating, and added the drug maker to its “Analyst Focus List.” JPMorgan calls Lilly the best-positioned of its large-cap pharmaceutical names, based in part on healthy core product growth.
