Check out the companies making headlines before the bell:
Uber Technologies – Uber lost $4.72 per share for the second quarter, larger than the loss of $3.12 per share that analysts were anticipating. The ride-hailing service’s revenue also came in below estimates, as growth in its ride business slowed.
CBS – CBS reported adjusted quarterly profit of $1.16 per share, beating estimates by 4 cents, while revenue also came in above forecasts. Results were boosted by strong ad sales for the March NCAA men’s basketball tournament, as well as an increase in content licensing and distribution fees.
Activision Blizzard – Activision beat estimates by 12 cents with adjusted quarterly profit of 38 cents per share, and the video game publisher’s revenue also came in slightly above Wall Street estimates. Activision also raised its full-year outlook, with the company saying key franchises like “Call of Duty” are showing momentum.
Dropbox – Dropbox reported adjusted quarterly profit of 10 cents per share, 2 cents above estimates, with revenue also above forecasts. The cloud storage company saw paying users rise by 14% compared to a year ago, although revenue per user fell below Street forecasts.
Amarin – Amarin said the Food and Drug Administration will hold an advisory committee meeting on whether labeling for Amarin’s heart disease drug Vascepa should be expanded. Amarin wants an expanded label to reflected upbeat results from clinical trials, but the scheduling of that meeting means a three-month delay in a final decision.
Novo Nordisk – The drug maker raised its full-year sales forecast, on growth in demand for its obesity drugs as well as a new diabetes treatment.
Beyond Meat – Beyond Meat abandoned plans to enter the Japanese market, according to Reuters quoting Japan trading house Mitsui & Co. Mitsui has a small stake in the plant-based burger maker, but said a joint venture plan is no longer in the works.
Yelp – Yelp beat Wall Street earnings estimates by 4 cents per share with quarterly profit of 16 cents per share, while the online review site operator’s revenue was essentially in line with analyst forecasts. Yelp said a change in its operations is allowing it to expand sales without having to add to its sales force.
News Corp. – News Corp. reported adjusted quarterly earnings of 7 cents per share, 4 cents above estimates, though the Wall Street Journal publisher’s revenue fell below forecasts. Revenue was impacted by lower ad revenue and falling sales at its book publishing unit, among other factors.
Farfetch – Farfetch lost 15 cents per share for its latest quarter, smaller than the 21 cent loss predicted by analysts. Farfetch, a technology platform provider for the luxury fashion industry, also saw revenue beat estimates, but lowered its full-year guidance for a key growth metric. Separately, Farfetch announced the acquisition of luxury brand platform maker New Guards Group for $675 million.