Take a look at the businesses making headlines earlier than the bell:
Macy’s — The retailer’s second-quarter earnings got here in method beneath analysts’ expectations, as heavy markdowns used in the course of the spring season to clear unsold merchandise weighed on earnings. Macy’s shares tanked greater than 13% on the report.
Canada Goose – The outerwear maker posted a smaller-than-expected loss for its newest quarter, with income nicely above analysts’ forecasts. Canada Goose stated its gross sales grew in all geographical areas, and it’s sustaining its prior full-year forecast.
Luckin Espresso – The espresso chain reported an adjusted quarterly lack of 48 cents per share, wider than the 43 cents a share consensus estimate. Income beat estimates, nonetheless, in Luckin’s first report as a public firm. Luckin is quickly opening new shops because it tries to overhaul Starbucks within the China market.
Tilray – Tilray reported an adjusted lack of 32 cents per share, wider than the 25 cents a share loss that analysts have been anticipating. The hashish producer’s income beat forecasts, and stated the corporate would “probably” be asserting new provide offers within the coming months.
RealReal – RealReal misplaced 28 cents per share for its newest quarter, 5 cents a share lower than Wall Avenue had predicted. The web vendor of secondhand luxurious items additionally noticed income beat estimates, in its first quarterly report since going public in late June.
Qualcomm – Qualcomm named former Palo Alto Networks Chairman and CEO Mark McLaughlin as chairman, changing Jeff Henderson. Former Cardinal Well being CFO Henderson will stay on the board and proceed to chair the chipmaker’s audit committee.
Myriad Genetics – Myriad reported adjusted quarterly revenue of 41 cents per share, lacking consensus estimates by 6 cents a share. The drugmaker’s income additionally got here in beneath Wall Avenue forecasts. The corporate cited lower-than-expected reimbursements for its expanded provider screening check, however stated it’s extra optimistic going ahead.
CBS – CBS was downgraded to “underperform” from “outperform” at Bernstein, following the announcement of its deliberate merger with Viacom. The value goal was additionally reduce to $46 per share from $62 a share. The agency feels CBS will lose extra from inheriting Viacom’s structural issues than it’s going to achieve from any synergies.
Bristol-Myers Squibb – The drugmaker’s inventory was upgraded to “chubby” from “impartial” at Atlantic Equities, which thinks the present degree of the shares represents a “extremely compelling worth alternative.” The agency factors to elevated readability on the Celgene acquisition course of, in addition to robust cash-flow era, amongst different components.
WWE – Rosenblatt Securities charges the World Wrestling Leisure mum or dad’s inventory as a “purchase” in new protection, with a worth goal implying 30% upside. The agency stated the inventory represents probably the greatest methods to play the “content material is king” thesis.
Alcon – The attention-care merchandise firm’s inventory was rated “purchase” at Goldman Sachs, citing robust natural income development, amongst different components. Goldman additionally set a worth goal of $67 per share in comparison with yesterday’s shut of $59.89 a share.
—CNBC’s Lauren Thomas contributed to this report.