Check out the companies making headlines before the bell:
Adobe Systems – Adobe reported adjusted quarterly profit of $1.73 per share, beating estimates by 4 cents a share. The software maker’s revenue topped forecasts, as well, however Adobe’s revenue guidance was merely in line with analysts’ estimates after topping expectations for nine straight quarters.
Amazon.com – Amazon CEO Jeff Bezos said a decision on where the company will build a second headquarters will be made before the end of the year.
L Brands – L Brands will close all of its Henri Bendel stores as well as shut down the brand’s website in January. The handbag maker has been in business for 123 years and was bought by the Victoria’s Secret parent in 1985.
Hasbro – Hasbro was added to the “franchise pick” list at Jefferies, which thinks the toy maker’s stock could jump by 50 percent over the next 1-2 years. Jefferies said Hasbro has a superior brand and content pipeline that should boost sales and generate strong cash flow.
Dunkin’ Brands – The stock was downgraded to “sector perform” from “outperform” at RBC Capital, which notes a turnaround for the restaurant chain but adds that this is now reflected in the stock’s price.
Coca-Cola – Coca-Cola was rated “buy” in new coverage at Guggenheim, which calls the soft drink maker’s stock a “best idea”. Guggenheim thinks the company’s sales and profit will come in above Street projections, thanks in part to Coke’s global market leadership in highly profitable carbonated soft drinks.
Costco – The warehouse retailer’s stock was downgraded to “market perform” from “outperform” at Wells Fargo, in a valuation call. Wells Fargo said Costco’s performance has been “stellar” over the past year and the stock’s price reflects that view, but thinks comparable store sales seem destined to slow this year.
Bunge — Point72 Asset Management has a 5 percent stake in the agricultural products company, according to a Securities and Exchange Commission filing
NiSource – NiSource unit Columbia Gas is investigating a natural gas pipeline rupture that apparently triggered dozens of explosions in three communities near Boston. At least one person was killed, in addition to about a dozen injuries.
Sanofi – The French drugmaker said that several of its key drugs were selling well and that it expected to report a return to growth beginning in the second half of this year.
Shire – China approved the acquisition of the British drug maker by Japan’s Takeda Pharmaceutical, the latest country to clear the $62 billion acquisition.
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