Tuesday’s Pre-Market Look: Stocks In The News Before The Open

Amazon.com (AMZN) — The Wall Street Journal is reporting that Amazon is considering at least three formats for brick-and-mortar food stores. That news follows Amazon’s unveiling of its “Amazon GO” store format, featuring no cash registers, no lines, and a “grab-and-go” method of shopping.

AstraZeneca (AZN) — The drug maker reported upbeat results for its Tagrisso lung cancer drug in a trial, saying it improved progression-free survival by nearly six months.

AutoZone (AZO) — The auto parts retailer earned $9.36 per share for its latest quarter, five cents above estimates, with revenue essentially in line as same-store sales rose 1.6 percent. AutoZone also saw improvement in profit margins from a year ago.

Ford Motor (F)— Ford is raising $2.8 billion in new long-term financing, its first foray into the debt market in nearly four years. The company plans to use the proceeds to fund investment in new automotive technologies.

McDonald’s (MCD) — The company plans to keep a minority stake in its China and Hong Kong stores after it sells them, according to a Reuters report. The restaurant chain seeks to raise up to $2 billion in the transaction, and is said to have picked a consortium of private equity firm Carlyle Group and China state-owned conglomerate Citic to buy the stores.

Apple (AAPL) — Apple CEO Tim Cook told Reuters that Apple Watch sales to consumers set a record during the first week of holiday sales. Other reports show sales of wearable devices, and the Apple Watch, are plunging this year.

Toll Brothers (TOL) — Toll reported adjusted quarterly profit of $1.15 per share, 16 cents above estimates. Revenue also beat forecasts, with the homebuilder’s results improved by higher sales and average selling prices.

Aetna (AET) — The health insurer reportedly plans to ask for a trial to save its proposed deal to buy Humana if its current court case fails to turn back a Justice Department injunction. That’s according to the New York Post, which said the company feels that the Justice Department in the Trump administration will be friendlier to business and might be willing to settle.

Lexicon Pharmaceuticals (LXRX) tumbled over 12% in after-hours trading after a Phase 2 study of sotagliflozin did not reach statistical significance in young adults with Type 1 Diabetes.

TherapeuticsMD (TXMD) surged almost 20% in after-hours trading after a Phase 3 trial of its TX-001HR drug met co-primary goals at multiple doses in postmenopausal women with moderate to severe vasomotor symptoms.

Roper Technologies (ROP) will buy Deltek for about $2.8 billion.

Nike (NKE) was downgraded to ‘Market Perform’ from ‘Outperform’ at Cowen.

Pandora Media (P) was upgraded to ‘Outperform’ from ‘Market Perform’ at Oppenheimer with an 18-month target price of $18.

McCormick (MKC) was rated a ‘Buy’ at Vertical Group with a price target of $1.09.

Tyson Foods (TSN) was rated a ‘Buy’ at Vertical Group with a price target of $67.

Bob Evans Farms (BOBE) jumped over 5% in after-hours trading after it reported Q2 adjusted EPS of 56 cents, above consensus of 45 cents, and then raised guidance on 2017 adjusted EPS to $2.15-$2.30 from an August 31 view of $2.05-$2.20.

Kinder Morgan (KMI) gained over 1% in after-hours trading after it said it sees a 50 cent a share dividend in 2017 and “delivering additional value to its shareholders in 2018.”

Coupa Software (COUP) climbed 6% in after-hours trading after it reported a Q3 adjusted loss of -22 cents a share, narrower than consensus of -47 cents, and said it sees a Q4 adjusted EPS loss of -16 cents to -19 cents, smaller than consensus of-23 cents.

Rent-A-Center (RCII) slid 3% in after-hours trading after it said CFO Guy J. Constant resigned his position effective last Friday.

Forum Energy Technologies (FET +5.22%) fell 5% in after-hours trading after it announced a public offering of 7 million shares of common stock.

Source: Barchart, CNBC, FoxBusiness, Reuters, and Bloomberg