Several companies made headlines before the bell, including Walgreens Boots Alliance, Estee Lauder, Allstate, RH, TD Synnex, Chemours, and Vornado Realty Trust. Walgreens saw a 1.6% dip in shares following its fiscal second quarter report, despite surpassing revenue expectations. Estee Lauder’s shares rose more than 3% after a Bank of America upgrade to buy, citing profitability recovery efforts. Allstate’s stock rose 0.9% after an HSBC upgrade to buy, highlighting decisive management actions. RH surged more than 9% premarket, despite missing top and bottom line expectations in the fourth quarter. TD Synnex saw a 4.7% drop in shares after launching a secondary public offering. Chemours shares tumbled over 8% as the company cooperates with the SEC and U.S. Attorney’s office concerning financial practices, including manipulation of cash flows. Vornado Realty Trust gained 1.2% after a Morgan Stanley upgrade to equal weight, citing improving activity in New York leasing and occupancy.
Walgreens Boots Alliance reported revenue of $37.05 billion for the fiscal second quarter, exceeding LSEG forecasts. However, the company also narrowed its full-year adjusted earnings guidance due to a challenging retail environment. Estee Lauder’s shares rose following a Bank of America upgrade to buy, citing profitability recovery efforts and improving share in the prestige beauty sector. Allstate’s stock rose after an HSBC upgrade to buy, praising the company’s decisive management actions and less restrictive regulatory backdrop. RH saw a surge in shares premarket despite missing top and bottom line expectations in the fourth quarter, with management forecasting better-than-expected revenue growth in 2024. TD Synnex saw a decrease in shares after launching a secondary public offering of 9 million common shares, held by Apollo Global Management. Chemours shares tumbled as the company cooperates with authorities concerning internal financial practices, including manipulation of cash flows.
Vornado Realty Trust gained 1.2% after a Morgan Stanley upgrade to equal weight, noting improving activity in New York leasing and occupancy. Walgreens Boots Alliance exceeded revenue forecasts in the fiscal second quarter but narrowed its full-year adjusted earnings guidance due to a challenging retail environment. Estee Lauder’s shares rose following a Bank of America upgrade to buy, praising profitability recovery efforts. Allstate’s stock rose after an HSBC upgrade to buy, highlighting decisive management actions and a less restrictive regulatory backdrop. RH surged premarket despite missing fourth-quarter expectations, with management forecasting better-than-expected revenue growth in 2024. TD Synnex saw a drop in shares after launching a secondary public offering of 9 million common shares, held by Apollo Global Management, and authorizing a share repurchase program.
Chemours shares tumbled over 8% as the company cooperates with authorities regarding internal financial practices, including manipulation of cash flows. Vornado Realty Trust gained 1.2% after a Morgan Stanley upgrade to equal weight, citing improving activity in New York leasing and occupancy. Walgreens Boots Alliance reported revenue of $37.05 billion for the fiscal second quarter, surpassing expectations, but narrowed its full-year adjusted earnings guidance due to a challenging retail environment. Estee Lauder’s shares rose after a Bank of America upgrade to buy, citing profitability recovery efforts. Allstate’s stock rose following an HSBC upgrade to buy, highlighting decisive management actions. RH surged premarket despite missing fourth-quarter expectations, with management forecasting better-than-expected revenue growth in 2024. TD Synnex saw a decrease in shares after launching a secondary public offering and authorizing a share repurchase program.
