Check out which companies are making headlines before the bell:
Cisco Systems – Cisco beat estimates by 4 cents a share, with adjusted quarterly profit of 63 cents per share. The networking equipment and software company’s revenue also came in slightly above forecasts with its first year-over-year rise in revenue in more than two years. Cisco also announced a $25 billion addition to its stock buyback program.
Waste Management – The company reported adjusted quarterly profit of 85 cents per share, 2 cents a share above estimates. Revenue also topped forecasts. The environmental services company said it was aided by controlling costs and by adding “profitable volume in a disciplined manner.”
US Foods – The food distributor beat estimates by a penny a share, with adjusted quarterly profit of 44 cents per share. Revenue also beat forecasts and US Foods gave a full-year outlook that is above current consensus. The results were helped by increasing sales to independent restaurants, among other factors.
Avon Products – The cosmetics company earned an adjusted 12 cents per share, 5 cents a share above estimates. Revenue was slightly below forecasts, however. Avon said it has the capacity to reach its long-term goals, but that the effort will take time.
Applied Materials – Applied Materials reported adjusted quarterly profit of $1.06 per share, compared to the consensus estimate of 98 cents a share. Revenue was above estimates, as well. The maker of semiconductor manufacturing equipment also gave strong guidance for the current quarter, doubled its quarterly dividend to 20 cents per share, and announced a $6 billion share buyback program.
Shopify – The provider of e-commerce platforms for businesses beat estimates by 10 cents a share, with adjusted quarterly profit of 15 cents per share. Revenue beat estimates by a comfortable margin. Shopify said that sales by merchants using its platforms have been increasing significantly.
TripAdvisor – TripAdvisor fell 8 cents a share shy of forecasts, with adjusted quarterly profit of 6 cents per share. The travel website operator’s revenue topped estimates, however, and the company announced a $250 million stock buyback and gave a more upbeat forecast for the current year than analysts were expecting.
Marriott – Marriott reported adjusted quarterly profit of $1.12 per share, 12 cents a share above estimates. Revenue also beat forecasts. Like rival Hilton, which reported earlier in the day, Marriott saw increased booking volume at higher prices.
NetApp – NetApp came in 8 cents a share above estimates, with adjusted quarterly profit of 99 cents per share. Revenue was very slightly above estimates. The data management company did report an overall loss due to a one-time charge of $856 million related to the new tax law.
Nestle – Nestle reported its weakest organic sales growth on record for 2017, and forecast modest growth for this year. The snacks and coffee maker has been under pressure from activist investor Daniel Loeb to overhaul its strategy.
Qualcomm – Qualcomm and Broadcom gave no details about what transpired when the two chipmakers met Wednesday to talk about Broadcom’s revised $121 million takeover bid for its rival. Qualcomm issued a statement saying its board would now determine its next step.