Check out the companies that make news before the bell:
Home Depot (HD): The home improvement retailer surpassed quarterly estimates by $ 3 cents with earnings of $ 2.65 per share. Revenue also exceeded estimates. Comparable in-store sales increased 24.5% during the fourth quarter, more than the consensus estimate of 19.2% of analysts surveyed by FactSet. Home Depot does not provide guidance for 2021, however, due to pandemic-related uncertainty. Shares fell 2.7% ahead of the market.
Macy’s (M): The retailer reported an adjusted quarterly profit of 80 cents per share, well above the consensus estimate of 12 cents, with revenue also higher than Wall Street forecasts. Comparable in-store sales fell 17.1% in owned + licensed, below the 21.3% drop forecast by analysts surveyed by Refinitiv. Macy’s shares rose 2.2% in premarketing shares.
Tesla (TSLA) – Tesla shares fell more than 5% in premarket trading on Tuesday, after suffering the biggest single-day loss in months on Monday. Wedbush analyst Dan Ives warns that Tesla’s share price is now directly related to the price of bitcoin following the electric vehicle maker’s investment in the cryptocurrency.
Palo Alto Networks (PANW): Palo Alto Networks reported adjusted quarterly earnings of $ 1.55 per share, 12 cents above estimates, with the cybersecurity company’s revenue also exceeding forecasts. Palo Alto issued a mostly weaker-than-expected current earnings outlook, but noted the opportunities offered by the massive SolarWinds hack. Shares fell 3.7% ahead of the market.
Churchill Capital IV (CCIV) – Lucid Motors will be made public through a merger with the blank check company in a deal that values the combination at $ 24 billion. The deal would inject $ 4.4 billion into the California-based luxury electric vehicle maker. Shares of Churchill Capital fell 34.5% in pre-market trading.
InterContinental Hotels Group (IHG) – IHG reported an operating loss of $ 153 million by 2020, hurt by the Covid-19 pandemic and the resulting blockages. However, the company said its Holiday Inn Express brand outperformed key markets and that world travel is starting to recover. Shares rose 1.2% before the market.
Johnson & Johnson (JNJ) – J&J is allocating $ 3.9 billion in talc-related litigation, according to an SEC filing. In November, the company said it will allocate $ 2.1 billion for talc cases as it faces thousands of lawsuits claiming its talc products cause cancer.
Occidental Petroleum (OXY): Occidental lost 78 cents a share for the last quarter, more than the loss of 59 cents that analysts predicted. Revenue also lost forecast. The mission came despite the rise in the price of oil and gas. Shares fell 2.2% ahead of the market.
Shopify (SHOP): Shopify had an offer of 1.18 million shares at $ 1,315 per share, and the e-commerce platform provider expects to raise about $ 1.55 million from the sale. Shopify plans to use revenue to bolster its balance sheet. Shares fell 5.5% in premarketing stock.
Carnival (CCL): Cruise line operator shares fell 3.4% ahead of the market after offering about 40.45 million common shares at $ 25.10 per share, with the cruise line operator that sought to raise about $ 1 billion to be used for general corporate purposes. The cruise industry has closed during the pandemic.
The RealReal (REAL): RealReal lost 49 cents a share during its last quarter and recorded revenue that was also lower than analysts ’forecasts. The second-hand luxury goods seller said 2020 was a challenging year, with the pandemic “temporarily interrupting” its path to profitability. Shares fell 10.8% ahead of the market.
ZoomInfo (ZI): ZoomInfo rose 8.1% ahead of the market after beating estimates by 2 cents with an adjusted quarterly profit of 12 cents per share. Marketing database provider revenue also exceeds forecasts. ZoomInfo also provided an optimistic outlook for the current quarter and for the entire year.
AMC Entertainment (AMC) – The shares of the movie operator jumped 3.4% ahead of the market following the news that New York movie theaters will reopen with limited capacity on March 5th.
Wells Fargo (WFC): The bank announced an agreement to sell its Wells Fargo asset management unit to private equity firms GTCR and Reverence Capital for $ 2.1 billion. Wells Fargo will maintain a 9.9% stake in the business.
Dollar General (DG) – Dollar General is taking steps to find a possible successor to CEO Todd Vasos, according to people familiar with the matter who spoke to Reuters. Sources say Vasos had not communicated any intention to leave the discount retailer when his contract expires in June, calling the process “good governance”.
—CNBC’s Sara Salinas contributed to this report.