Before you call, check out the companies that are making headlines. Walgreens Boots Alliance – Shares fell 1.6% after the company released its fiscal second-quarter report. Walgreens reported revenue of $37.05 billion for the quarter, beating LSEG’s forecast of $35.86 billion. However, the company also narrowed its full-year adjusted earnings forecast, in part due to the “challenging retail environment.” Estee Lauder shares rose more than 3% after Bank of America gave the stock a neutral buy rating. The firm noted efforts to restore profitability, the introduction of new products and an increase in share in the prestige beauty sector. Allstate — Insurer shares rose 0.9% after HSBC upgraded its pre-buyout rating. Analyst Vikram Gandhi highlighted the company’s “decisive management actions” and less stringent regulatory requirements. RH — Shares are up more than 9% premarket. Although RH missed neither revenue nor profit in the fourth quarter, the company is forecasting better-than-expected revenue growth in 2024 due to improving demand trends. Management forecast full-year revenue growth will fall 8% to 10%, while analysts polled by FactSet had forecast 6.4%. TD Synnex – Shares fell 4.7% after the company launched a secondary public offering of 9 million shares of common stock currently held by Apollo Global Management. The IT company has also authorized a simultaneous repurchase of 500,000 shares under its existing share purchase programme. Chemours — Shares fell more than 8% after the chemical company said it was cooperating with the Securities and Exchange Commission and U.S. Attorney’s Office on an internal audit of its financial practices. An internal review found that executives manipulated cash flow to achieve targets related to their bonuses. Vornado Realty Trust – Shares rose 1.2% after Morgan Stanley upgraded the office building REIT to equal weight from underweight. The Wall Street firm noted improved activity, especially in the leasing and lodging space in New York, where Vornado has more influence compared to the West Coast or Sun Belt. — CNBC’s Jesse Pound, Sarah Min and Michelle Fox contributed reporting.
