Check out the companies making headlines before the bell:
Lowe’s – The home improvement retailer missed estimates by 3 cents a share, with quarterly earnings of $1.19 per share. Revenue missed forecasts, as well, and same-store sales were up 0.6 percent compared to the consensus Thomson Reuters estimate of a 3.1 percent increase. Lowe’s said bad weather impacted sales for much of the quarter but that it is encouraged by strong sales so far this month.
Target – Target reported adjusted quarterly profit of $1.32 per share, missing estimates by 7 cents a share. Revenue was slightly below forecasts and a comparable-store sales increase of 3 percent was just above the 2.9 percent consensus forecast. Target also mentioned weather as a factor which delayed some sales.
Tiffany – The luxury goods retailer earned $1.14 per share for the first quarter, easily beating the 83 cents a share consensus estimate. Revenue and comparable-store sales were well above Street forecasts, as well. Tiffany also raised its full-year outlook and announced a $1 billion share repurchase program.
Intuit – Intuit reported adjusted quarterly profit of $4.82 per share, beating the consensus estimate of $4.68 a share. The financial software company also saw revenue beat forecasts and it issued strong full-year guidance.
Hewlett Packard Enterprise – The company beat forecasts by 3 cents a share, reporting adjusted quarterly profit of 34 cents per share. Revenue also beat estimates and the company raised its full-year forecast amid stronger sales of its servers and networking equipment.
Red Robin Gourmet Burgers – Red Robin earned 69 cents per share for the first quarter, falling 7 cents a share shy of the Street’s consensus forecasts. The restaurant chain’s revenue was also short of estimates, with comparable restaurant sales posting an unexpected drop of 0.9 percent.
The Container Store – The company reported quarterly profit of 18 cents per share, 5 cents a share less than Wall Street had anticipated. The retailer’s revenue topped estimates, however. The company cited “timing factors” among key negative factors impacting profitability.
Tesla – The automaker cut the price of its Model X in China by up to $14,000 after China announced significant cuts in tariffs for imported automobiles and car parts.
Wynn Resorts – The casino operator’s shareholders rejected the company’s executive compensation plan at its annual meeting last week, according to a new Securities and Exchange Commission filing.
Barclays – Barclays is not exploring a potential merger with rival banks, according to sources quoted by Reuters. The Financial Times had reported that several Barclays board members were looking at a deal with another bank and that chairman John McFarlane favored a possible combination with Standard Chartered.
Taiwan Semiconductor – The chipmaker has begun mass production of next-generation chips for Apple’s iPhone, according to a Bloomberg report. The chips would be used in new iPhones to be launched later this year.
Nordstrom – Nordstrom was upgraded to “buy” from “hold” at Deutsche Bank, saying the 10 percent sell-off that followed the retailer’s first-quarter earnings report was overdone.
Urban Outfitters – Urban Outfitters reported adjusted quarterly profit of 38 cents per share, beating forecasts by 7 cents a share. The apparel retailer’s revenue also beat estimates, with strong consumer spending at its stores despite bad weather during the quarter.
Shake Shack – The restaurant chain’s shares were downgraded to “neutral” from “buy” in a valuation call at Longbow, which notes that the stock is now trading above its most recent $54 price target.