Check out which companies are making headlines before the bell:
Shake Shack — The fast casual chain got a positive bump from Morgan Stanley, which raised its rating on the stock to “equal weight” from “underweight.” Shake Shack new store openings have consistently outperformed, the firm wrote in a note, and this next year should see heavy investment by the burger makers.
Expedia — Both Priceline and Expedia were lowered to a “neutral” rating by MKM Partners. The firm lowered its outlook from “buy” on both of the online travel companies, saying in note the future holds a “significantly lower earnings outlook.”
Dollar General — The discount retailer’s third quarter earnings came in a penny below the 94 cents per share which analysts surveyed by FactSet expected. Dollar General said hurricanes accounted for 5 cent negative impact on earnings.
Sage Therapeutics — Shares of the biopharmaceutical company ripped higher after announcing positive results from Phase 3 testing of its depression drug known as brexanolone. Leerink Partners wrote in a note that Sage now has 90 percent odds of approval for the drug.
Broadcom — The chipmaker reported first quarter earnings 7 cents above what Wall Street expected with earnings of $4.59 per share, as well as a healthy $4.85 billion in revenue. MKM Partners and Drexel Hamilton both issued notes saying the results were “solid,” with the former firm noting that investor focus is now on Broadcom’s proposed acquisition of Qualcomm.
Vail Resorts —The Colorado company reported an earnings loss of $2 per share for its first quarter, missing Wall Street anaylsts’ expectations of $1.83 per share loss.