Check out which companies are making headlines before the bell:
News Corp. — The Wall Street Journal publisher reported adjusted quarterly profit of 19 cents per share, 1 cent above estimates. Revenue was in line with forecasts, with the company seeing weaker ad sales but stronger performance in book publishing and digital operations.
Expedia — Expedia missed estimates by 20 cents with adjusted quarterly profit of $1.17 per share, although the travel website operator’s revenue was slightly above forecasts. Expedia also fell short of analyst forecasts in domestic and international bookings, although hotel room night growth was in line with estimates.
Interpublic Group — The ad agency earned an adjusted 75 cents per share for its latest quarter, 8 cents above estimates, while revenue beat analyst forecasts as well. Interpublic’s bottom line was boosted by an increase in U.S. ad spending.
Pandora — Pandora lost 13 cents per share for its latest quarter, 8 cents less than analysts had anticipated, and the online radio service saw revenue come in above Street forecasts. However, Pandora did see a drop in active listeners compared to a year earlier.
Sears Holdings — The retailer said fourth quarter results had shown “meaningful improvement” over a year earlier, and that it had launched a comprehensive restructuring that will streamline its operations and reduce outstanding debt.
Intel — The chip maker’s stock was downgraded to “hold” from “buy” at Canaccord Genuity. The firm said that while it is impressed with the results delivered by Intel in 2016, it feels the company is caught in the difficult position of deciding between investing in competitive new markets or protecting its more traditional businesses.
Fluor Corp. — The engineering firm said it would take a non-cash charge of $45 million or 32 cents per share for its fourth quarter, due to new IRS rules that limit the deductibility of foreign currency translation losses in certain foreign subsidiaries. However, excluding that charge, Fluor expects to report an adjusted profit of 82 cents per share for the quarter, 4 cents above consensus. Fluor will report its official fourth quarter results on February 17.
Yelp — Yelp reported an adjusted profit of 27 cents per share for its latest quarter, well above estimates of 3 cents, but the online review site gave a weaker than expected outlook for the current quarter.
Activision Blizzard — Activision Blizzard beat estimates by 19 cents with adjusted quarterly profit of 92 cents per share, while the video game maker’s revenue also came in above forecasts. The company’s results were helped by last year’s acquisition of “Candy Crush” Maker King Digital, as well as the popularity of its “Overwatch” video game.
Nvidia — Nvidia reported quarterly earnings of 99 cents per share, 16 cents above estimates, and the graphics chipmaker’s revenue also beat Street forecasts. Nvidia is seeing particular strength in chips for self-driving car systems as well as artificial intelligence.
Mead Johnson Nutrition — The baby formula maker will be acquired by British consumer goods maker Reckitt Benckiser for $16.6 billion in cash or $90 per share. The two companies had publicly acknowledged that they were in takeover talks earlier this month.
Walt Disney — Disney struck a deal with Saudi Arabia’s Kingdom Holding to buy 90 percent of that entity’s Euro Disney shares. Disney swapped its own stock for the Euro Disney shares, increasing its stake in Euro Disney to 85.7 percent from 76.7 percent.
Blackstone — Private equity funds affiliated with Blackstone are buying the employee benefits outsourcing business of insurance broker Aon for up to $4.8 billion, including $4.3 billion up front and $500 million in possible future payments.
Tesla — Tesla factory workers have contacted the United Auto Workers union for support in forming a union, according to published reports, in what is seen as a protest against mandatory overtime. A Tesla spokesman said the company has been the target of professional union organizing efforts several times in the past.