Check out the companies making headlines before the bell:
Altria (MO) – The tobacco producer beat estimates by 4 cents with adjusted quarterly profit of $1.19 per share, 4 cents above estimates, with revenue also beating forecasts. Altria also took a $4.5 billion writedown on its investment in e-cigarette maker Juul, on the possibility of further FDA actions as well as bans on e-cigarette products by various states and cities.
Bristol-Myers Squibb (BMY) – The drugmaker came in 10 cents above estimates with adjusted quarterly earnings of $1.17 per share, with revenue above estimates as well. However, Bristol-Myers also cut its full-year guidance.
Generac (GNRC) – The maker of home and commercial generators reported adjusted quarterly profit of $1.43 per share, 10 cents above estimates, with revenue also beating Wall Street forecasts. Generac said rolling power blackouts in California are among the key factors boosting demand for its generators.
Estee Lauder (EL) – The cosmetics company reported adjusted quarterly earnings of $1.67 per share, 7 cents above estimates, with revenue also beating forecasts on strong results from the company’s skin care unit. However, it lowered its full-year outlook on anticipated softness in brick-and-mortar retail. Estee Lauder also raised its quarterly dividend by 12 percent to 48 cents per share.
Cigna (CI) – The insurance company beat estimates by 18 cents with adjusted quarterly profit of $4.54 per share, while revenue also came in above Wall Street forecasts. Cigna said it saw strength across all its business lines during the quarter.
Marathon Petroleum (MPC) – Marathon announced its intention to spin off its Speedway gasoline station chain into a separate, publicly traded company. Activist investor Elliott Management had been calling for a Speedway spin-off, among other moves to enhance shareholder value.
Clorox (CLX) – The household products maker beat estimates by 5 cents with quarterly earnings of $1.59 per share, though revenue was slightly below forecasts. Clorox said it is still working through challenges in its bags and wraps efforts and its charcoal business, but it is growing volume and margins in three of its four business segments.
Dunkin’ Brands (DNKN) – The restaurant chain operator earned an adjusted 90 cents per share for its latest quarter, 9 cents above estimates, although revenue was below forecasts. U.S. sales were helped by strong demand for Dunkin’s premium beverages like espresso and cold brew. Dunkin’ also raised its full year earnings forecast.
Apple (AAPL) – Apple reported quarterly profit of $3.03 per share, beating the consensus estimate of $2.84. Revenue also beat forecasts, as expanding iPad and AirPod demand and growth in services helped offset a drop in iPhone sales.
Starbucks (SBUX) – Starbucks matched Wall Street estimates with adjusted quarterly profit of 70 cents per share, with the coffee chains revenue above analyst forecasts. Global comparable store sales grew a better than expected 5 percent, helped by a jump in cold drink sales.
Facebook (FB) – Facebook earned $2.12 per share for its latest quarter, compared to a consensus estimate of $1.91, with revenue also above Wall Street forecasts. Facebook’s average revenue per user came in at $7.26 during the quarter, higher than analysts had estimated.
Twitter (TWTR) – Twitter will ban all political ads globally starting Nov. 22, amid growing concerns about the spread of false and misleading information.
Lyft (LYFT) – Lyft lost $1.57 per share for its latest quarter, smaller than the $1.66 that analysts were anticipating. The ride-hailing service’s revenue exceeded expectations, and Lyft said it anticipated reaching profitability in about two years.
Fiat Chrysler (FCAU) – Fiat Chrysler and Peugeot’s parent, Groupe PSA, announced their intention to work toward a binding merger agreement. The automakers’ tentative proposal which see each company’s shareholders own 50 percent of the newly combined entity.
Ford Motor (F) – Ford and the United Auto Workers union reached a tentative labor deal, just days after GM workers ratified a labor agreement that ended a 40-day walkout.
Etsy (ETSY) – Etsy matched Street forecasts with quarterly profit of 12 cents per share, while the online crafts marketplace saw revenue exceed Wall Street forecasts. Gross merchandise sales were up by more than 30 percent, but the company also saw gross margins decline by more than 3 percentage points.