Check out the companies making headlines before the bell:
ARRIS International – The maker of communications hardware and software will be acquired by CommScope for $7.4 billion, including assumed debt. The deal is worth $31.75 per share in cash, compared to Wednesday’s closing price for ARRIS of $27.79 per share.
Perrigo – The drugmaker reported adjusted quarterly profit of $1.09 per share, beating estimates by 8 cents a share despite revenue coming in slightly short of forecasts. The company cut its full-year guidance due to challenges in its generic drug business, among other factors.
DR Horton – The home builder matched Street forecasts with quarterly profit of $1.22 per share, while revenue fell below estimates. The company also raised its quarterly dividend to 15 cents per share from 12 1/2 cents.
Party City – The party supplies retailer missed estimates by 10 cents a share, with quarterly profit of 8 cents per share, and revenue also fell short of Wall Street forecasts as comparable-store sales fell 1 percent. Party City also cut its full-year outlook amid operational disruptions, increased inflationary pressures, and slightly lower-than-expected sales.
Monster Beverage – The beverage maker’s shares are under pressure, on news that Coca-Cola may be allowed to release two competing drinks. The two companies signed a cooperation agreement in 2015 that did contain some competitive exemptions, but they disagree over whether those exemptions apply in this case.
L Brands – The retailer raised its current-quarter forecast, based on better-than-expected performance at its Bath & Body Works unit. L Brands, which is also the parent of Victoria’s Secret, reported an October company-wide comparable-store sales increase of 4 percent.
Cardinal Health – The drug distributor earned an adjusted $1.29 per share for its latest quarter, 21 cents a share above estimates. Revenue also topped Street forecasts.
Qualcomm – Qualcomm reported adjusted quarterly earnings of 90 cents per share, 7 cents a share above estimates. The chipmaker’s revenue also came in above Wall Street forecasts, however Qualcomm’s current-quarter revenue forecast was below consensus estimates due largely from the loss of chip sales to Apple.
Keurig Dr Pepper – Keurig Dr Pepper beat estimates by 3 cents a share, with adjusted quarterly profit of 30 cents per share. Revenue came in just above Street forecasts. The beverage maker said the combination of Keurig Green Mountain and Dr Pepper Snapple Group is “off to a great start.”
Roku – Roku posted an adjusted loss of 9 cents per share, 3 cents a share smaller than Wall Street was expecting. The maker of streaming media devices also saw revenue beat forecasts, but the shares are being pressured by weaker-than-expected video platform revenue and a forecast of a net loss for the holiday quarter.
News Corp – News Corp reported adjusted quarterly profit of 17 cents per share, well above the consensus estimate of 4 cents a share. The Wall Street Journal owner’s revenue was essentially in line with forecasts. Results were boosted by the expansion of News Corp’s subscription video services business.
Take-Two Interactive – Take-Two beat estimates by 12 cents a share, with adjusted quarterly profit of $1.05 per share,. The videogame maker’s revenue also exceeded forecasts and Take-Two raised its full-year outlook following an upbeat debut for its “Red Dead Redemption II” videogame.
Wynn Resorts – Wynn fell 1 cent a share shy of Wall Street forecasts, with adjusted quarterly profit of $1.68 per share. The casino operator’s revenue beat estimates, however Wynn executives are warning of a slowdown in the key Macau market.
Comcast – Comcast is planning to roll out a new set top box that allows broadband-only subscribers to aggregate video streaming applications like Netflix and YouTube. Sources tell CNBC that the product is set to be launched next year. Comcast is the parent company of NBCUniversal and CNBC.
Square – Square beat estimates by 2 cents a share, with adjusted quarterly profit of 13 cents per share. The mobile payments company’s revenue also beat forecasts, however Square’s current-quarter earnings guidance is below Street forecasts.
AstraZeneca – AstraZeneca said it now anticipates years of sustained sales growth, propelled by demand for its new drugs.
Walmart – Walmart will begin offering Black Friday deals earlier this year, as it vies with Amazon.com and other major retailers for holiday sales. Black Friday deals will be offered online at 10 p.m. ET on Wednesday, November 21, the night before Thanksgiving.
UBS – UBS said it expected to be sued by the Justice Department today over the sales of mortgage backed securities ahead of the 2008 financial crisis. It said it would contest any such complaint “vigorously.”
Costco – The warehouse retailer reported an 8.6 percent increase in October comparable-store sales, above the consensus estimate of 7.7 percent compiled by StreetAccount.
Wells Fargo – Wells Fargo is considering the sale of its retirement plan services business, according to a Bloomberg report. The bank is said to be in the early stages of mulling a sale, with the unit worth an estimated $1 billion.
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