Check out the companies making headlines before the bell:
Allergan – Allergan beat estimates by 3 cents a share, with adjusted quarterly profit of $4.38 per share. The drugmaker’s revenue beat forecasts as well, driven by strong sales of products like Botox and Juvéderm. Allergan also raised its full-year revenue forecast.
Dean Foods – The milk producer lost an adjusted 36 cents per share for its latest quarter, wider than the 13 cents a share loss expected by Wall Street. Revenue was also short of estimates, Dean pointed to dairy commodity inflation, volume pressure, and an accelerated decline in the white milk category as negative factors during the quarter.
Energizer – Energizer reported adjusted quarterly profit of 37 cents per share, 9 cents a share shy of estimates. Revenue also missed forecasts. Energizer said strength in its battery business is being offset by weakness in auto-care products.
Edgewell Personal Care – The razor and personal-care products maker beat estimates by 16 cents a share, with adjusted quarterly profit of $1.11 per share. Revenue fell short of Street forecasts, however. The company also announced that after considering strategic alternatives, it has decided to retain its feminine care products unit, and said it still sees completing its acquisition of razor maker Harry’s no later than the first quarter of 2020.
Mallinckrodt – The drugmaker reported adjusted quarterly profit of $2.53 per share, beating the consensus estimate of $2.08 a share. Revenue was above analysts’ estimates, and the company also raised its full-year earnings forecast. Separately, Mallinckrodt suspended the plan spin-off of its specialty generics unit due to market conditions.
Mosaic – The fertilizer producer earned an adjusted 12 cents per share for its latest quarter, well short of the 29 cents a share consensus estimate. Revenue also missed forecasts, with Mosaic saying unprecedented wet weather in the U.S. Midwest hurt spring fertilizer sales. Mosaic also cut its full-year forecast.
Shake Shack – Shake Shack reported adjusted quarterly profit of 27 cents per share, 4 cents a share above estimates. The restaurant chain’s revenue also came in above Wall Street forecasts. Same-restaurant sales were up 3.6%, beating the Refinitiv consensus estimate of 2%. The company also raised its full-year forecast as digital sales rise.
Marriott – Marriott matched Street forecasts with adjusted quarterly profit of $1.56 per share, with the hotel chain’s revenue missing estimates. Marriott also cut its full-year forecast for the key REVPAR (revenue per available room) metric, as weakening business travel impacts results.
Sanofi, Regeneron Pharmaceuticals – The drugmakers won European Union approval for use of its Dupixent drug to treat moderate to severe cases of eczema in adolescent patients. Separately, Regeneron reported adjusted quarterly profit of $6.02 per share, compared to a consensus estimate of $5.41 a share. Revenue also beat estimates on strong sales of Dupixent and eye drug Eylea.
Amazon.com — CEO Jeff Bezos sold a total of $2.8 billion in Amazon stock last week, according to Securities and Exchange Commission filings. The sales are part of a previously announced trading plan.
Take-Two Interactive – Take-Two reported adjusted quarterly profit of 23 cents per share, well above the consensus estimate of 2 cents a share. The video-game maker saw revenue beat estimates as well, and raised its full-year forecast amid ongoing success of its “Red Dead Redemption” and “Grand Theft Auto” franchises.
Avis Budget – The car rental company came in 5 cents above estimates with adjusted quarterly profit of 79 cents per share. Revenue was slightly below Wall Street forecasts. The bottom line was helped by a reduction in expenses, as well as its partnerships with Lyft and Alphabet’s Waymo self-driving unit.
L Brands – The apparel maker’s chief marketing officer Edward Razek is stepping down from that role, amid growing controversy over the Victoria’s Secret brand’s marketing strategy. Razek has been with L Brands since 1983.
Blackstone — Blackstone is taking a 10% to 15% stake in private-equity firm BC Partners for about $560 million, according to The Wall Street Journal. The deal could be announced as soon as today.
International Flavors – The food and cosmetics ingredients maker reported adjusted quarterly profit of $1.61 per share, falling a penny a share short of consensus. Revenue also missed estimates and the company cut its full-year profit forecast on slowing demand from international customers.