Check out the companies making headlines before the bell:
Southwest Airlines – Southwest reported earnings of $1.17 per share for the fourth quarter, beating consensus estimates by 10 cents a share. Revenue also came in above estimates, and Southwest gave an upbeat outlook for 2019 despite a hit to January revenue from the government shutdown.
Bristol-Myers Squibb – The drugmaker earned an adjusted 94 cents per share for the fourth quarter, 9 cents a share above estimates. Revenue was roughly in line with expectations. Bristol-Myers also said it was withdrawing its application for approval of a combination cancer therapy involving its cancer drugs Opdivo and Yervoy.
McCormick – The spice maker fell 3 cents a share short of estimates, with adjusted quarterly profit of $1.67 per share. Revenue and the company’s full-year outlook were also below Street forecasts.
Apple – Apple has cut more than 200 employees from its autonomous vehicle group known as Project Titan, according to people familiar with the matter who spoke to CNBC. A spokesperson said the company still sees opportunity in the autonomous vehicle market.
Ford Motor – Ford reported adjusted quarterly profit of 30 cents per share, 2 cents a share below estimates. Revenue came in above forecasts. Ford lost money in every global region except North America, and last week had provided a downbeat 2019 outlook along with preliminary fourth-quarter numbers.
Texas Instruments – Texas Instruments beat estimates by 2 cents a share, with adjusted quarterly profit of $1.26 per share. The chipmaker’s revenue was essentially in line with forecasts. The company warned that demand continues to slow, however, echoing the sentiments of other chip companies in recent days. Texas Instruments also issued lighter-than-expected guidance for the current quarter.
Las Vegas Sands – Las Vegas Sands fell 7 cents share below estimates, with adjusted quarterly profit of 77 cents per share. The casino operator’s revenue also came in below analysts’ projections. The company posted better-than-expected results in the key Macau market, however, where it has invested heavily in drawing VIP customers.
Facebook – Facebook is the target of an effort by advocacy groups who are urging the Federal Trade Commission to seek a breakup of the social media giant. The groups want to see Facebook forced to unwind the acquisitions of WhatsApp and Instagram, among other measures.
Norfolk Southern – The railroad operator raised its quarterly dividend to 86 cents per share from 80 cents a share.
PG&E – The utility said it will cost between $75 billion and $150 billion to comply with a judge’s order to inspect its power grid and remove trees that could fall into power lines and cause fires.
Microsoft – Microsoft said its Bing search service had been blocked in China and that it is now determining its next step. Bing is the latest foreign technology service to experience a shutdown in China.
Vertex Pharmaceuticals – Vertex fired Ian Smith, its chief operating officer and interim chief financial officer, for unspecified violations of the drugmaker’s conduct policy.
Canada Goose – Canada Goose was downgraded to “market perform” from “outperform” at Wells Fargo, which cited valuation and consumer engagement trends for the maker of outdoor apparel.
Xilinx – Xilinx reported quarterly profit of 93 cents per share, 8 cents a share above estimates. The semiconductor maker’s revenue also came in above Street forecasts and Xilinx gave strong current-quarter revenue guidance.