Check out the companies making headlines before the market opens. Walgreens Boots Alliance — Shares fell 1.6% following the company’s fiscal second-quarter report. Walgreens’ revenue for the quarter was $37.05 billion, exceeding LSEG’s forecast of $35.86 billion. However, the company also narrowed its full-year adjusted profit guidance, in part due to a “challenging retail environment.” Estee Lauder — Estée Lauder shares rose more than 3% after Bank of America upgraded the stock to buy from neutral. The company cited efforts to revive profitability, new products and increasing share of the premium beauty industry. Allstate — The insurance stock rose 0.9% after HSBC upgraded its rating on the insurance stock to buy from hold. Analyst Vikram Gandhi highlighted the company’s “decisive management actions” and light regulatory backdrop. RH — The stock surged more than 9% in pre-market trading. Although RH’s fourth-quarter revenue and profit missed targets, the company expects better-than-expected revenue growth in 2024 due to improving demand trends. Management expects full-year revenue growth to fall 8% to 10%, while analysts polled by FactSet had forecast a 6.4% decline. TD Synnex — Shares fell 4.7% after the company conducted a secondary public offering of 9 million common shares currently held by Apollo Global Management. The IT company has also authorized simultaneous buyback of 500,000 shares as part of its existing share purchase plan. CHEMOURS – The chemicals company said it is cooperating with the Securities and Exchange Commission and the U.S. Attorney’s Office regarding an internal audit of its financial practices, sending its shares down more than 8%. An internal review found that senior executives manipulated cash flow to meet bonus-related goals. Vornado Realty Trust — Shares of the office realty investment trust rose 1.2% after Morgan Stanley upgraded the trust to equal weight from underweight. The Wall Street firm noted improved activity, particularly in leasing and occupancy in New York, where Vornado has greater exposure than on the West Coast or Sun Belt. ——CNBC’s Jesse Pond, Sarah Minh and Michelle Fox contributed reporting
