Home Depot, the No. 1 home-improvement retailer, said Wednesday it expects fiscal-year sales to rise 2.3% with earnings from continuing operations up 27% to $1.97 a share.Shares of the company were a tad lower at $33.46, down 0.3% in premarket trading.Costco said fiscal first-quarter earnings rose 17% as sales at its warehouse stores jumped 11%. Shares of Costco were 0.2% lower to $69.49 in premarket trading Wednesday.
Texas Instruments tightened its fiscal fourth-quarter outlook after Tuesday's closing bell saying it now sees earnings of 61 cent sto 65 cents a share on revenue ranging from $3.43 billion to $3.57 billion. Texas Instruments shares fell 0.8% to $33.15 in premarket trading.
Fortune Brands on Wednesday confirmed reports it will break itself into three separate companies. The company, whose products include Maker's Mark bourbon whisky and Titleist golf products, said it will spin off its home and security division to shareholders, try to sell or spin off its golf products business, and continue as a public liquor company. Shares were rising in the premarket by $3.35, or 5.48%, to $64.50.
The U.S. Treasury has reached terms on the sale of the remainder of its stake in Citigroup, pricing the final 2.4 billion common shares at $4.35 each. Citigroup shares were down 0.2% to $4.61.
Men's Wearhouse, the Houston-based men's apparel retailer, forecast a much wider than expected loss for the current quarter, citing increased costs from bonus payments and medical expenses. There were no premarket quotes for Men's Wearhouse. The stock settled 0.4% higher at $28.74 Tuesday, but tumbled 8.7% to $26.24 in after-hours trading.
Netflix said Chief Financial Officer Brian McCarthy is leaving. McCarthy's departure is effective Friday, making for a rather abrupt transition for replacement David Wells, who most recently served as vice president of financial planning and analysis. Shares of the company were down 3.7% to $182.80 in premarket trading.
Orexigen Therapeutics' Contrave, the weight loss drug, has been recommended for approval by a Food and Drug Administration panel. Shares of Orexigen surged 139.7% to $11.41. Other companies also working on diet drugs include Vivus and Arena Pharmaceuticals. The stocks rose 15.4% to $9 and 11.4% to $1.57, respectively.
H&R Block posted weaker-than-expected quarterly financial results after the closing bell Tuesday. There were no premarket quotes for the stock. It settled 4.1% higher at $13.55 on Tuesday.
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