Friday Pre-Market Look: Stocks In The News Before The Open

Starbucks (SBUX) dropped over 3% in after-hours trading after CEO Howard Schultz stepped down as CEO and Lieutenant Kevin Johnson will take over effective April 3, 2017. Schultz will be focusing on a new line of high-end coffee shops.

Five Below (FIVE) jumped over 10% in after-hours trading after it raised guidance on the low end of its full-year EPS view to $1.29-$1.32 from a prior view of $1.28-$1.32.

Ambarella (AMBA) fell over 5% in after-hours trading after it said it sees Q4 revenue of $84 million-$87 million, below consensus of

Ulta Salon (ULTA) jumped over 6% in after-hours trading after the cosmetics retailer reported quarterly profit of $1.40 per share, three cents above estimates, with revenue also above forecasts. Ulta also provided an upbeat current quarter outlook, as it sees continuing momentum in revenue growth and same-store sales.

Smith & Wesson (SWHC) — Smith & Wesson fell 6% after earnings. The company beat estimates by 12 cents with adjusted quarterly profit of 68 cents per share, with the gun maker’s revenue also beating forecasts. However, the company did give weaker than expected current quarter guidance.

Big Lots (BIG)— The discount retailer reported an adjusted quarterly profit of four cents per share, compared to expectations of a one cent per share loss. Revenue did fall below forecasts, and same-store sales were flat compared to estimates of a 1 percent increase, but Big Lots raised its full-year earnings forecast above current Street estimates.

Lululemon (LULU)— Canaccord downgraded the yoga wear maker to “sell” from “hold,” saying that while Lululemon has improved its supply chain processes, this particular retail category is facing stiffening headwinds.

Square (SQ)— The mobile payments company was upgraded to “buy” from “hold” at Deutsche Bank, which said the company’s business model is set to capitalize on positive industry trends.

Genesco (GCO) — The specialty retailer reported adjusted quarterly profit of $1.28 per share, well above estimates of 93 cents, despite missing on the top line. Genesco’s bottom line performance was helped by better expense management as well as share buybacks.

Fairmont Santrol Holdings (FMSA) slid nearly 5% in after-hours trading after it announced a secondary offering of 15 million shares of common stock.

Exxon Mobile (XOM) was rated new ‘Market Perform’ at BMO Capital Markets with a target price of $78.

Zumiez (ZUMZ) fell 2% in after-hours trading after it reported Nov comparable sales up +5.7%, weaker than estimates of +9.7%, and then said it sees Q4 EPS of 60 cents-66 cents, on the low side of estimates of 65 cents.

Equinix (EQIX) was rated a new ‘Buy’ at Guggenheim Securities with a 12-month target price of $390.

SM Energy (SM) slid nearly 4% in after-hours trading after it announced a public offering of 8 million shares of common stock.

Allegheny Technologies (ATI) declined 3% in after-hours trading after it said it will suspend its quarterly dividend effective immediately.

CyrusOne (CONE) was rated a new ‘Buy’ at Guggenheim Securities with a 12-month target price of $50.

Student Transportation (STB) was rated a new ‘Outperform’ at Raymond James with a 12-month target price of $6.50.

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