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

Wal-Mart (WMT)— The retail giant fell nearly 3% before the bell after reporting earnings. The company earned 98 cents per share for the third quarter, two cents a share above estimates. Revenue was below forecasts, and U.S. comparable-store sales were up 1.2 percent compared to estimates of up 1.3 percent. Wal-Mart did raise the lower end of its full-year earnings forecast range.

Best Buy (BBY)— The electronics retailer jumped 7.5% before the bell after reporting a blowout quarter, beating earnings estimates by 15 cents a share at an adjusted 62 cents per share. Revenue and same-store sales were both above estimates, as well.

JM Smucker (SJM) — The food producer fell 3% before the open after the company earned an adjusted $2.05 per share for its latest quarter, beating estimates of $1.93 a share. Revenue came in below Street forecasts. The company’s results were impacted by slower sales of pet foods like Meow Mix, as well as Folgers coffee and JIF peanut butter.

Staples (SPLS)— The office products retailer slid 2.5% before the open after the company matched estimates, with adjusted quarterly profit of 34 cents per share. Revenue was below forecasts. Staples saw a bigger-than-expected four percent drop in same-store sales during the quarter, as it continues to work through its turnaround plan.

Microsoft (MSFT) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs with a price target of $68.

Chipotle Mexican Grill (CMG) was downgraded to ‘Sell’ from ‘Neutral’ at Guggenheim Securities.

Cisco (CSCO) dropped over 4% in pre-market trading after it said it sees Q2 adjusted EPS of 55 cents-57 cents, weaker than consensus of 59 cents.

NetApp (NTAP) jumped 10% in after-hours trading after it reported Q2 adjusted EPS of 60 cents, better than consensus of 54 cents.

Shopify (SHOP) was rated a new ‘Buy’ at BTIG LLC with a 12-month target price of $55.

EQT Midstream Partners LP (EQM) was rated a new ‘Buy’ at Drexel Hamilton LLC with a 12-month price target of $86.

Performance Food Group (PFGC) slid over 2% in after-hours trading after it announced a secondary offering of 10 million shares of common stock.

Amgen (AMGN) gained almost 1% in after-hours trading after it said migraine suffers treated in a second Phase 3 study of its erenumab drug significantly reduced their migraine days compared with a placebo.

L Brands (LB) fell 2% in after-hours trading after it said it sees Q4 EPS of $1.85-$2.00, below consensus of $2.03.

First Solar (FSLR) sank over 10% in after-hours trading after it said it sees 2017 adjusted EPS of break-even to 50 cents, well below consensus of $1.82.

Planet Fitness (PLNT) dropped nearly 4% in after-hours trading after it announced a secondary offering of 15 million shares of common stock.

Aclaris Therapeutics (ACRS) tumbled 10% in after-hours trading after it announced a public offering of $65 million of common stock.

Source: Barchart, Bloomberg, CNBC, FoxBusiness