Check out which companies are making headlines before the bell:
Bristol-Myers Squibb — The drugmaker’s shares are under pressure, after the company decided not to seek accelerated approval for a new lung cancer treatment. It still expects the treatment – a combination of its immunotherapy drugs Opdivo and Yervoy – to be approved in the second half of 2018.
General Electric — GE matched estimates with adjusted fourth-quarter profit of 46 cents per share, but revenue came in below Street forecasts as the energy business remained under pressure.
Procter & Gamble — The consumer products giant earned $1.08 per share for its latest quarter, beating estimates by 2 cents a share. Revenue came in above estimates, as well. The company also increased its full-year 2017 organic sales growth guidance.
IBM — IBM reported adjusted quarterly profit of $5.01 per share, 13 cents a share above estimates. Revenue was slightly above Street forecasts, but fell for the 19th consecutive quarter. IBM did report a 33 percent increase in its cloud business, as it continues its transition away from its older businesses.
American Express — American Express missed estimates by 7 cents a share, with adjusted quarterly profit of 91 cents per share. Revenue came in above forecasts and the financial services company raised its 2017 earnings outlook. CEO Kenneth Chenault said the market environment continues to be “very challenging,” but that the company’s growth initiatives are making progress.
Domino’s Pizza — The stock was upgraded to “overweight” from “sector weight” at KeyBanc, on optimism about sustainable growth for the pizza chain. KeyBanc is particularly optimistic about the company’s strong move into digital ordering.
Wells Fargo — Wells Fargo is merging its international business with its wholesale banking operation. International head Richard Yorke was named chief operating officer for the newly constituted wholesale banking unit.
Las Vegas Sands — Las Vegas Sands will pay nearly $7 million to end a five-year investigation into alleged corrupt practices. The probe had centered on the casino operator’s relationship with a consultant operating in Macau and in China. Las Vegas Sands was not charged with a crime and the settlement does not contain any admission of guilt.
Alphabet — Alphabet’s Google unit is pushing its own products to top spots in search results, according to a Wall Street Journal study. Those products include everything from Pixel phones to Nest smart thermostats. Separately, Pacific Crest is rating both Alphabet and Facebook “overweight” in resumed coverage, based in large part on increased ad pricing.
JPMorgan Chase — Chief Executive Officer Jamie Dimon received a 3.7 percent raise in compensation for 2016, according to a filing with the Securities and Exchange Commission. Dimon received a salary of $1.5 million and incentive-based compensation of $26.5 million, paid in both cash and stock.
Target — The retailer promoted executive Rick Gomez to chief marketing officer, a position that had been vacant since August, when Jeff Jones left to take a job at Uber.
Regions Financial — The regional bank matched estimates with profit of 23 cents per share, with revenue also essentially in line. Regions did see an increase in net interest margin, a measure of lending profitability.
SunTrust Banks — SunTrust came in 2 cents a share above estimates, with quarterly profit of 90 cents per share. Revenue was in line with forecasts. SunTrust did see a drop in profit over a year earlier, thanks in part to higher expenses.
Schlumberger — The oilfield services giant matched Street forecasts with adjusted quarterly profit of 27 cents per share, while revenue beat estimates. Schlumberger saw strength in the Middle East and North America, but performance was weaker in Latin America.
CORRECTION: An earlier version of this story gave an inaccurate year-over-year earnings comparison for General Electric.
source”cnbc”
