Check out the companies making headlines before the bell:
Hilton Worldwide – The hotel chain reported adjusted quarterly profit of 79 cents per share, beating forecasts by ten cents. Hilton also reported better than expected revenue, as well as an upbeat current quarter forecast, as it benefits from increased travel demand and higher prices.
Teva Pharmaceutical – The drug maker fell a penny short of Street forecasts with adjusted quarterly profit of 53 cents per share, although revenue did come in above forecasts. Teva also gave a weaker than expected full-year forecast.
Dish Network – The satellite TV operator reported quarterly profit of 64 cents per share, falling short of consensus estimates by three cents, although revenue did come in above analyst projections. Results were hurt by a greater than expected loss in subscribers.
Deere – Bank of America Merrill Lynch downgraded the heavy equipment maker to “neutral” from “buy,” saying the stock’s risk/reward profile is now more balanced following material outperformance compared to rival Caterpillar. The call comes ahead of Deere’s quarterly earnings report, due out Friday morning.
Activision Blizzard – Activision reported adjusted quarterly profit of $1.29 per share, one cent above estimates. But the videogame publisher’s revenue missed estimates, as does the company’s forward guidance. Activision also announced it would cut its workforce by about eight percent, even as it boosts the number of developers by about 20 percent to increase new content.
Amazon, General Motors – Amazon and GM in talks to invest in electric pickup truck maker Rivian Automotive, according to a Reuters report. The deal being discussed would value Rivian at $1 billion to $2 billion.
TripAdvisor – TripAdvisor fell two cents short of estimates with adjusted quarterly profit of 27 cents per share, although the online travel review site operator did see revenue beat Street forecasts. Average monthly unique visitors were up two percent over a year earlier, but unique hotel shoppers fell by 11 percent.
Akamai Technologies – Akamai reported adjusted quarterly profit of $1.07 per share, beating the $1 consensus estimate, while revenue also beat analyst forecasts. Akamai, which provides cybersecurity services and technology that speeds up internet content, also announced the retirement of its chief financial officer Jim Benson.
Groupon – Groupon fell three cents shy of Street forecasts with adjusted quarterly profit of 10 cents per share, although the daily deals provider did see revenue beat estimates. Active North American customers fell by 2.5 percent from the prior quarter.
General Electric – GE won the most orders for gas turbines in 2018, according to a closely watched report seen by Reuters. However, GE fell to second place in rankings for the largest and most advanced machines, behind Mitsubishi Hitachi Power Systems.
DocuSign – DocuSign was upgraded to “buy” from “hold” by Deutsche Bank, which also increased its price target on the electronic document technology company’s stock to $65 per share from $50. Deutsche Bank cites both valuation and its recent talks with four of DocuSign’s largest e-signature customers.
Twilio – Twilio reported adjusted quarterly profit of four cents per share, matching estimates, while the cloud computing company saw revenue beat Wall Street forecasts. Twilio, which has been increasing its spending on sales, marketing, and research, also gave weaker than expected guidance for the current quarter.