Check out the companies making headlines before the bell:
GrubHub (GRUB) – GrubHub denied a Wall Street Journal report that it was mulling options that included a possible sale. In a statement to CNBC, the food delivery service said there was “unequivocally no process in place to sell the company and there are currently no plans to do so.”
Boeing (BA) – Boeing released internal messages that showed harsh criticism from workers about the development of the now-grounded 737 Max jet. Boeing said the messages were “completely unacceptable” and “do not reflect the company we are and need to be.”
Synnex (SNX) – Synnex plans to split into two separate publicly traded companies, with the IT solutions company expecting the split to be completed in the second half of this year. The announcement came at the same time Synnex reported its latest quarterly earnings, which came in above analysts’ forecasts.
Eli Lilly (LLY) – The drugmaker bought skin disease specialist Dermira (DERM) for $1.1 billion in cash, or $18.75 per share. The price is 2.2% above Dermira’s Thursday closing price, but Dermira shares had more than tripled over the past three months.
Amazon (AMZN) – Amazon is in talks to sell some of its ad inventory on services other than its own Fire TV platform, according to people familiar with the matter who spoke to The Wall Street Journal.
NortonLifeLock (NLOK) – NortonLifeLock declared a $12 per share special dividend, representing a return of more than $8 billion to shareholders in the cybersecurity company. The company said the payout would let it reach its goal of returning more than 100% of the proceeds from the sale of its enterprise security business to Broadcom (AVGO).
Intuitive Surgical (ISRG) – Intuitive Surgical released a preliminary quarterly earnings report showing better-than-expected results, driven by an increase in procedures performed with the company’s da Vinci robotic surgical devices. Intuitive Surgical will release its official results on Jan. 23.
KB Home (KBH) – KB Home reported quarterly earnings of $1.31 per share, 2 cents a share above estimates. The home builder’s revenue came in below Wall Street forecasts. Orders came in above forecasts, but the average sale price was slightly lower.
Urban Outfitters (URBN) – Urban Outfitters reported a comparable holiday season sales increase of 3% but said sales fell at its flagship Urban Outfitters apparel stores. The retailer said profit margins were weaker for some of its brands due to increased promotional activity.
WD-40 (WDFC) – The lubricant maker reported quarterly earnings of 88 cents per share, 10 cents a share below estimates. Revenue also fell short of analysts’ estimates. The company said the quarter does not reflect the level of revenue growth it would like to see, but added it expects a “solid, steady year ahead.”
Nvidia (NVDA) – Citi added the chipmaker to its “catalyst watch list,” expecting Nvidia to outperform its peers. Citi said Nvidia will be helped by improving data center demand as well as the closure of its deal to buy networking products maker Mellanox Technologies.
Foot Locker (FL) – Susquehanna Financial downgraded the athletic footwear and apparel retailer’s stock to “neutral” from “positive,”, after Susquehanna’s channel checks points to holiday sales that fell short of expectations.
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