Check out the companies that make headlines before the bell:
Brinker International (EAT) – The parent of the Chili’s and Maggiano’s Little Italy restaurant chain reported a quarterly adjusted loss of 88 cents per share, less than the $ 1.37 loss forecast by Wall Street analysts. Revenue came below forecasts, but Brinker is forecasting a smaller-than-expected loss for the current quarter, with comparable restaurant sales down among low- and mid-teens.
Tesla (TSLA) ̵1; Tesla announced a 5 per-1 share split, saying it wanted to make its shares more accessible to employees and investors. The additional shares will be issued on August 28 for record shareholders on August 21 and will start trading on a regulated basis with dividends on August 31.
Eastman Kodak (KODK) – CEO Jim Continenza said the company supported the government’s decision to suspend a possible loan to the company, saying the deal required more work. The loan – created to boost Kodak’s pharmaceutical business – is under control due to the granting of stock options to executives just before the loan agreement is announced.
Roku (ROKU) – Roku was rated “buy” in new coverage at Deutsche Bank, which notes that the video streaming equipment maker is the leader in its category with nearly 50 percent of the market and said Roku has done an impressive job building of a large installed customer base.
Moderna (MRNA) – Moderna reached a deal of more than $ 1.5 billion with the US government for 100 million doses of its experimental COVID-19 vaccine. The vaccine will be provided to people free of charge, and the government will have the opportunity to purchase an additional 400 million doses.
Red Robin Gourmet Burgers (RRGB) – Red Robin reported a quarterly adjusted loss of $ 3.31 per share, 4 cents wider than expected, with restaurant chain revenue also falling below estimates. Its sales were hit by pandemic-related closures, and subsequent reopening with limited capacity.
Overstock.com (OSTK) – Overstock announced that a new stock offering of 2.1 million shares was priced at $ 84.50 per share compared to Tuesday’s closing price of $ 92 per share. The online retailer said the money raised through the stock offering will be used for general corporate purposes.
Fluor Corp. (FLR) – Fluor said it will not be able to submit its quarterly report in a timely manner without making unreasonable expenditures or efforts, according to an SEC submission. The engineering and construction firm is in the process of investigating the reporting in previous periods, but does not expect to submit its report before 30 September.
Target (TGT) – Retail stocks were added to the “Focus Analyst” list at JP Morgan Securities, with the firm expecting strong comparable sales numbers for the first quarter to hold when second-quarter figures are released.
American Eagle Outfitters (AEO) – JP Morgan Securesh upgraded retailer shares to “overweight” from “neutral”, saying the American Eagle is wrong on the low side given the perennial slips in the casual and athletic categories.
Lazard (LAZ) – Investment advisory firm said it had $ 222.5 billion in assets under management since July 31, up from $ 214.7 billion a month earlier.