Bed Bath & Beyond Inc (NASDAQ:BBBY) rallied before the bell Monday after the home goods retailer announced dramatic changes to its board amid pressure from activist investors. Five independent directors are stepping down along with two co-founders who are shifting into emeritus roles. Five new directors have been appointed, bringing the board’s membership to 10. Patrick Gaston was named independent chairman, and CEO Steven Temares will remain on the board.
Investors were ready for a refresh, sending the stock up 2.2% in premarket trading to $17.80..
Halliburton Company (NYSE:HAL) stock rose after the company posted first quarter revenue that exceeded expectations. The oil giant reported adjusted net income of $0.23 per share on revenue of $5.7 billion, compared to Street estimates of $0.22 EPS on revenue of $5.5 billion. In the year ago quarter, net income was $0.41 per share on revenue of $5.7 billion. CEO Jeff Miller said the pricing difficulty that has hampered the oil industry will abate in the coming quarter.
Shares of the Houston company climbed 3.2% to $21.10.
Kimberly-Clark Corporation (NYSE:KMB) shares rose after the company sweeped past first quarter earnings and revenue. The Kleenex-parent saw EPS of $1.66 on revenue of $4.6 billion, ahead of the $1.54 EPS on $4.5 billion in revenue projected by analysts. It’s a dip year over year for the consumer care product company, which posted $1.71 EPS on $4.7 billion in revenue in 2018. Tissue sales fell 3% to $1.5 billion.
The stock is flirting with a record high, up 2.8% to $127.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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