Check out which companies are making headlines before the bell:
Navistar — The truck and engine maker generated better-than-expected revenue during its latest quarter, but also posted a larger-than-expected loss and saw lower sales of its trucks in the U.S. market.
Coca-Cola, PepsiCo — BMO Capital downgraded both beverage giants to “market perform” from “outperform.” BMO still thinks of Coke as a long-term safety trade, but doesn’t see opportunity for a meaningful upside earnings expansion. It’s more optimistic about PepsiCo’s ability to grow earnings, but notes that such potential is likely already priced into the stock after a double-digit increase this year. In the same report, BMO upgraded Dr Pepper Snapple to “outperform”, noting its depressed valuation.
Dave & Buster’s — The restaurant chain beat estimates by 6 cents with adjusted quarterly profit of 87 cents per share. Revenue also beat forecasts, but same-restaurant sales fell short of consensus with a rise of 2.2 percent.
Ambarella — Ambarella came in 3 cents ahead of estimates with adjusted quarterly profit of 39 cents per share, while revenue for the chip maker was above forecasts as well. However, Ambarella – best known as a key supplier for camera maker GoPro – is under pressure after its current quarter forecast fell below Street projections.
United Natural Foods — The company beat estimates by a penny with adjusted quarterly profit of 77 cents per share, but revenue fell short of forecasts. The natural food distributor cites softness in its retail business as well as costs related to company restructuring moves.
Apple — Apple is planning to make it easier for customers to get broken iPhone screens fixed, according to a Reuters report. Company executives told Reuters that it will put its proprietary screen-fixing machines at about 400 authorized third-party repair cents.
Goldman Sachs — Goldman is boosting its interest rates for savers to 1.2 percent from the current 1.05 percent, in order to attract more deposits. According to the FDIC, the average rate for savings accounts is 0.06 percent nationwide, although Goldman rivals like Synchrony Bank offer rates similar to the Wall Street firm.
Wells Fargo — The Justice Department has filed a friend-of-the-court brief in a lawsuit versus the bank brought by two former employees who say they were fired for whistleblowing.
Tesla — Tesla shareholders voted down a proposal that would have seen the automaker’s directors stand for re-election on an annual basis.
Dollar Tree — The discount retailer has countersued Dollar Express, accusing it of siphoning off funds and withholding payment for goods and services. Dollar Express was formed from the stores that Family Dollar and Dollar Tree sold to win approval for their merger. Earlier this week, Dollar Express sued Dollar Tree, accusing it of opening new stores near the spun-off stores to drive it out of business.
Sears — The retailer is closing 66 stores, in addition to the 150 already announced this year, according to the Wall Street Journal. The closures involve 49 Kmart locations and 17 Sears stores.
Exact Sciences — Exact Sciences announced a seven million share secondary offering. The molecular diagnostics company plans to use the proceeds to fund expansion and product development.