Check out the companies making headlines before the bell:
Beyond Meat – McDonald’s is testing a new “PLT” – a plant, lettuce, and tomato sandwich – that uses Beyond Meat’s plant-based patties. The tests will take place in 28 restaurants in Canada.
Accenture – The consulting firm earned $1.74 per share for its fiscal fourth quarter, 3 cents a share above estimates. Earnings growth was helped by improvement in digital and cloud services. Revenue was slightly shy of analysts’ forecasts, however, and Accenture gave a current-quarter revenue forecast below estimates due to a stronger dollar.
Conagra Brands – The food producer reported adjusted quarterly profit of 43 cents per share, 4 cents a share above estimates. Revenue was below Wall Street forecasts, with organic net sales falling 1.7%.
FactSet – The financial information provider earned an adjusted $2.61 per share for its latest quarter, beating the consensus estimate of $2.47 a share. Revenue was also above Wall Street forecasts, but the company gave a fiscal 2020 earnings forecast that is below current consensus.
Target – The retailer’s stock was raised to the No. 1 position on Cowen’s “Conviction List,” based on strong recent results and an improved profit margin outlook.
Rite Aid – The pharmacy chain operator earned an adjusted 12 cents per share for its latest quarter, 5 cents a share above estimates. Revenue missed forecasts, however, as did comparable-store sales.
KB Home – KB Home reported quarterly profit of 73 cents per share, 7 cents a share above estimates. The home builder’s revenue was below Wall Street forecasts. KB Home saw a 24% rise in net orders during the quarter.
Peloton – Peloton priced its initial public offering at $29 per share, at the high end of the expected range. The offering values the fitness bicycle maker at $8.1 billion, nearly double its most recent valuation.