Check out the companies making headlines before the bell:
Tapestry — The company formerly known as Coach reported adjusted quarterly profit of 42 cents per share, a penny a share above estimates. Revenue was essentially in line with expectations. Comparable-store sales were up 1%, topping the 0.9% consensus forecast.
Edgewell Personal Care — Edgewell is buying shaving startup Harry’s for $1.37 billion in cash and stock. The seller of the Schick and Wilkinson razor brands also reported adjusted quarterly profit of $1.13 per share, 13 cents a share above estimates. Revenue came in below Wall Street forecasts.
Cardinal Health — The drug distributor beat estimates by 16 cents a share, with adjusted quarterly profit of $1.59 per share. Revenue also beat estimates. Cardinal Health also raised the lower end of its full-year earnings outlook range, following upbeat developments including a contract renewal from its largest customer.
Norwegian Cruise Line Holdings — The cruise line operator reported adjusted quarterly profit of 83 cents per share, 12 cents a share above estimates. Revenue also exceeded forecasts. The company said global demand was robust, helping to support its prices.
The Trade Desk — The provider of programmatic advertising technology earned an adjusted 49 cents per share for the first quarter, well above the consensus estimate of 25 cents a share. Revenue also exceeded Wall Street forecasts, and the company also raised its full-year forecast as more of the world’s biggest brands shift to its ad platform.
Wolverine World Wide — The maker of footwear and apparel missed estimates by 4 cents a share, with quarterly profit of 43 cents per share. Revenue also missed forecasts. Wolverine said its results were pressured by a late start to Spring and some challenges for its Sperry brand, but it expects revenue growth to resume during the current quarter.
Walt Disney — Disney reported adjusted quarterly profit of $1.61 per share, beating estimates by 3 cents a share. Revenue beat forecasts as well, with the company getting a boost from its recently concluded purchase of assets from 21st Century Fox. Disney also saw growth from direct-to-consumer operations like its majority-controlled Hulu service.
Intel — The chipmaker was downgraded to “market perform” from “outperform” at BMO Capital, saying semiconductor stocks do not do well in a decelerating gross margin environment. Intel has fallen in 11 of the past 12 trading days, and the stock fell 2.5% Wednesday as the chip maker gave disappointing revenue guidance at an investor conference.
Fox Corp. — Fox beat estimates by 9 cents a share, with adjusted quarterly profit of 76 cents per share. Revenue also beat Wall Street forecasts in Fox’s first report as a stand-alone company, helped by growth in its cable and broadcast TV businesses.
Etsy — Etsy earned 24 cents per share for the first quarter, 10 cents a share above estimates. The online crafts marketplace’s revenue came in slightly below Wall Street forecasts. Gross merchandise sales were in line with expectations, and Etsy also said it paused some of its marketing investments during the quarter.
Roku — Roku lost an adjusted 9 cents per share for the first quarter, smaller than the 25 cents a share loss that Wall Street was expecting. The maker of streaming video devices saw revenue beat estimates, and also gave an upbeat current-quarter forecast.
Fossil Group — Fossil posted an adjusted quarterly loss of 42 cents per share, less than the 64 cents a share loss that analysts had forecast. The watch maker’s revenue beat estimates on stronger sales in China and India, among other factors.
SVMK — SVMK posted an adjusted loss of 2 cents per share for the first quarter, compared to consensus estimates of a 3 cents per share loss. The parent of SurveyMonkey posted better-than-expected revenue, and also saw average revenue per user increase.
Stamps.com — Stamps.com earned an adjusted $1.23 per share for the first quarter, beating estimates by 16 cents a share. Revenue also beat forecasts, however the online postage seller lowered its full-year guidance, based on cancellations and renegotiations of various contracts between the U.S. Postal Service and certain re-sellers. Stamps.com ended its partnership with the Postal Service earlier this year.
Novartis — Novartis is buying the dry-eye drug of Japan’s Takeda Pharmaceutical for $3.4 billion, plus potential milestone payments of up to $1.9 billion. Takeda is selling $10 billion in assets to cut debt taken on in its acquisition of Britain’s Shire earlier this year.
Costco — Costco saw April same-store sales increase of 5.4%, beating the StreetAccount consensus estimate of a 4.4% rise.
Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.
