Check out the companies making headlines before the bell:
Blackstone – The private-equity firm posted quarterly economic net loss of 2 cents per share, compared to estimates of a breakeven quarter. Revenue was well above estimates, however, and CEO Stephen Schwarzman said nearly all of Blackstone’s flagship strategies beat their relevant benchmarks in 2018. Distributable net income also topped Wall Street forecasts.
Hershey – The chocolate maker missed estimates by a penny a share, with adjusted quarterly profit of $1.26 per share. Revenue was also shy of estimates. Hershey saw sales increases in recently acquired snack brands, but that was offset by a drop in North American chocolate sales.
UPS – The delivery service earned an adjusted $1.94 per share for the fourth quarter, 4 cents a share above estimates. Revenue fell short of forecasts amid global trade turbulence, but higher fees helped bottom line results.
Microsoft – Microsoft reported adjusted quarterly profit of $1.10 per share, beating consensus estimates by a penny a share. Revenue came in slightly short of forecasts, however, despite a gain in its cloud-computing business as several other product areas saw slower growth.
Facebook – Facebook beat estimates by 19 cents a share, with quarterly profit of $2.38 per share. The social media giant’s revenue also beat forecasts. The results are lessening investor concerns about increased spending on privacy and security-related matters.
Tesla – Tesla earned an adjusted $1.93 per share for its latest quarter, missing the $2.20 a share consensus estimate. The automaker’s revenue beat Street forecasts, however, and CEO Elon Musk expressed confidence that Tesla can be profitable every quarter. Separately, the company announced the departure of chief financial officer Deepak Ahuja.
Tailgrass Energy – Affiliates of Blackstone will acquired a controlling stake in the energy infrastructure company for $3.3 billion in cash.
Qualcomm – Qualcomm reported adjusted quarterly profit of $1.20 per share, 11 cents a share above estimates. The chipmaker’s revenue fell short of Wall Street forecasts. Qualcomm gave a forecast that was in line with analysts’ estimates, soothing some concerns about weakness in the China smartphone market.
Visa – Visa beat estimates by 5 cents a share, with adjusted quarterly profit of $1.30 per share. The payment network’s revenue beat estimates, as well. Results were boosted by an 11 percent increase in payment volume, and the company also announced an $8.5 billion stock buyback program.
PayPal – PayPal reported adjusted quarterly profit of 69 cents per share, 2 cents a share above estimates. The payment service’s revenue was essentially in line with forecasts, however PayPal gave a lower-than-expected revenue outlook for the current quarter.
Mondelez International – Mondelez matched Street forecasts with adjusted quarterly profit of 63 cents per share, and the snack maker’s revenue was in line with expectations, as well. The company’s sales fell in the latest quarter, but higher prices helped boost bottom line results.
Wynn Resorts – Wynn earned an adjusted $1.06 per share for its latest quarter, missing the consensus estimate of $1.35 a share. The casino operator’s revenue came in above Wall Street forecasts.
Unilever – The consumer products giant reported weaker-than-expected fourth-quarter results and warned of a challenging 2019, due to tougher competition in the North American market.
General Motors –GM temporarily suspended production at 11 Michigan plants and its Warren Tech Center. The move comes after a local utility requested that users conserve natural gas during the extreme cold snap.
United Natural Foods – United Natural sued Goldman Sachs and Bank of America/Merrill Lynch. The food distributor claimed the investment banks put their own financial interests ahead of United Natural’s when advising it on the acquisition of Supervalu last year. A Goldman spokeswoman said the suit has no merit.
UnitedHealth Group – The health insurer is suing to stop former executive David Smith from joining the new joint health care venture formed by Amazon, Berkshire Hathaway, and JPMorgan Chase. UnitedHealth claims the move violates Smith’s noncompete agreement.