Check out the companies making headlines before the bell:
Advance Auto Parts (AAP) – The auto parts retailer earned $2.10 per share for its latest quarter, 5 cents a share above estimates. Revenue also beat forecasts, however same-store sales came in slightly below estimates with an increase of 1.2%. The company also announced the addition of another $700 million to its share buyback program.
DR Horton (DHI) – The home builder beat estimates by 10 cents a share, with quarterly earnings of $1.35 per share. Revenue was slightly below Wall Street forecasts. DR Horton also raised its quarterly dividend to 17.5 cents per share from 15 cents a share.
Edgewell Personal Care (EPC) – The personal care products maker beat estimates by 2 cents a share, with quarterly earnings of 86 cents per share. Revenue topped estimates as well. The maker of brands like Schick, Wilkinson, and Playtex also said it had reached an agreement to sell its infant and pet care business.
Dean Foods (DF) – The milk producer filed for Chapter 11 bankruptcy reorganization, intending to use the process to continue ordinary operations and work toward a sale of the company. Dean Foods said it is currently engaged with Dairy Farmers of America about a potential sale of substantially all company assets.
Tyson Foods (TSN) – The beef and poultry producer fell 8 cents a share short of estimates, with adjusted fiscal fourth-quarter earnings of $1.21 per share. Revenue also came in shy of Street forecasts, however Tyson said it is very optimistic about fiscal 2020.
Visa (V) – Visa is buying a “significant minority stake” in Nigerian payments platform Interswitch. Financial details were not disclosed, but Sky News reports Visa bought a 20% stake for $200 million.
Tencent Music (TME) – The China-based company reported better-than-expected revenue for the third quarter, as the music streaming service added more paying subscribers. Monthly average revenue per paying user was up just 7.4%, however, the slowest rate since the company went public in December.
Craft Brew Alliance (BREW) – Anheuser-Busch (BUD) will buy out the remainder of Craft Brew Alliance that it did not already own for about $321 million, or $16.50 per share. The price is more than double yesterday’s closing price of $7.33 for the Portland-based brewer’s stock. Anheuser-Busch, which owns 31.2% of Craft Brew, had said in August that it would not buy the rest of the company.
Kemet (KEM) – The electronic components company will be bought by Taiwan-based rival Yageo for $1.8 billion, or $27.20 per share. The price represents an 18% premium to Kemet’s Monday closing price.