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

Voyager Therapeutics (VYGR) surged over 30% in after-hours trading after it announced positive results on its phase 1b trial of its VY-AADC01 gene therapy that showed improved measures of motor function in in patients with advanced Parkinson’s disease.

Sears Holdings (SHLD) — Sears reported a quarterly loss of $3.11 per share, smaller than the loss of $4.06 per share expected by analysts. Revenue came in above estimates, but same-store sales slid more than anticipated and the company’s CFO said he could not guarantee when the company would return to profitability.

Costco (COST)— Costco reported adjusted quarterly profit of $1.17 per share, two cents below estimates, with the warehouse retailer’s revenue slightly below forecast. Same-store sales were up 1 percent, impacted by discounts and deflation. The company said it saw more shoppers, but sales were hit by lower prices on a wide variety of products.

H&R Block (HRB)— Block lost 67 cents per share for its latest quarter, 1 cent less than analysts had been anticipating. Revenue did beat estimates for the tax preparation firm, which usually turns a profit only in its fiscal fourth quarter when the bulk of tax returns are prepared.

Ciena (CI) — The networking equipment maker missed estimates by 3 cents with adjusted quarterly earnings of 44 cents per share, with revenue slightly below analyst forecasts. The company does say its growth is outpacing that of the overall market.

Verint Systems (VRNT) — Verint earned an adjusted 59 cents per share for its latest quarter, falling short of estimates by 10 cents, while the communications and cybersecurity software maker also saw revenue fall short. It gave weak full year guidance as well, amid increasing competition in the cybersecurity area.

Chevron (CVX) — Chevron announced a $19.8 billion capital spending plan for 2017, the fourth straight year of spending cuts for the oil giant.

Bank of New York Mellon (BK) — The bank was unable to use the Swift network to process client payment instructions for several hours earlier this week, according to the Wall Street Journal. The outage began Sunday afternoon and was resolved Monday morning.

Amazon.com (AMZN) — Amazon knocked down reports that it was planning to open more than 2,000 physical grocery stores. An Amazon statement said that number is “not even close.”

Corning (GLW) — Corning announced a new $4 billion stock repurchase program.

Tailored Brands (TLRD) — The company formerly known as Men’s Wearhouse reported adjusted profit of 68 cents per share, 13 cents above estimates, with revenue beating forecasts as well. The clothing retailer, which also owns the Jos. A. Bank chain, also gave an upbeat outlook for comparable store sales. Tailored Brands was upgraded to ‘Buy’ from ‘Neutral’ at Mizuho Securities with a 12-month target price of $25.

TripAdvisor (TRIP), Expedia (EXPE), Priceline Group (PCLN) — The three travel website operators are the subject of new coverage at CLSA, which rates TripAdvisor “underperform,” Expedia “outperform,” and Pricline “buy.” CLSA said the benefits of TripAdvisor’s business transition are already reflected in the stock’s price, while saying that Expedia is benefiting from travel industry consolidation, and that Priceline will gain disproportionately from the shift to online travel booking.

L-3 Communications Holdings (LLL) was downgraded to ‘Neutral’ from ‘Buy’ at Bank of America/Merrill Lynch with a price target of $170.

Priceline.com (PCLN) was rated a new ‘Buy’ at CLSA with a price target of $1,900.

Lululemon Athletica (LULU) surged 13% in after-hours trading after it reported Q3 adjusted EPS of 47 cents, higher than consensus of 43 cents, and then said its board approved up to $100 million in stock repurchases.

Ollie’s Bargain Outlet Holdings (OLLI) fell over 2% in after-hours trading after it reported Q3 comparable store sales rose +1.8%, below consensus of +2.1%.

Corning (GLW) gained over 1% in after-hours trading after it announced a new $4 billion share repurchase program.

United Natural Foods (UNFI) slid over 2% in after-hours trading after it reported Q1 EPS of 58 cents, below consensus of 62 cents.

Verint Systems (VRNT) tumbled over 12% in after-hours trading after it reported Q3 adjusted EPS of 59 cents, weaker than consensus of 70 cents, and then lowered guidance on fiscal 2017 adjusted EPS to $2.50, below a September 7 view of $2.85.

Comtech (CMTL) dropped 7% in after-hours trading after it reported Q1 revenue of $135.8 million, below consensus of $139.2 million, and then cut its quarterly dividend to 10 cents a share from 30 cents a share.

Casey’s General Stores (CASY) fell over 2% in after-hours trading after it reported Q2 EPS of $1.44, below consensus of $1.57.

Source: FoxBusiness, Barchart, CNBC,Bloomberg, Reuters