Before you call, check out the companies that are making headlines. ConocoPhillips – Shares fell more than 3% on news that the company is acquiring Marathon Oil in an all-stock deal valued at $17.1 billion that is expected to close in the fourth quarter. Marathon Oil shares rose more than 7% following the announcement. Dick’s Sporting Goods. Shares of the sporting goods retailer jumped 7.7% after reporting strong earnings and revenue for its fiscal first quarter. Dick’s also raised its full-year forecast. The company now expects earnings per share to be between $13.35 and $13.75, down from the previous range of $12.85 to $13.25. That’s higher than the $13.25 expected by analysts polled by LSEG. American Airlines — Shares of the airline fell 8% after the company cut its second-quarter guidance and announced the departure of its chief commercial officer. The company said it expects unit revenue for the quarter to decline 5% to 6%, compared with its previous forecast of a decline of no more than 3%. American also lowered its forecast for adjusted earnings per share. Robinhood — Shares of the stock broker jumped 1.6% in premarket trading after the trading startup announced its first-ever stock buyback plan. Robinhood said it will buy back $1 billion of shares over two to three years, starting in the third quarter. Chewy — Shares of the pet supplies retailer rose more than 5% after a stronger-than-expected quarterly report. Chewy reported earnings per share of 15 cents, beating the FactSet estimate of just 4 cents per share. Revenue of $2.88 billion also beat expectations. United Airlines – Shares of the carrier fell 1% despite Jeffries’ decision to pause the purchase. The financial institution cited United’s investments in its products, increased free cash flow generation and a shareholder-friendly management team as catalysts for the turnaround. United Airlines also confirmed its profit forecast for the second quarter. Kawa – Shares fell 5% in premarket trading, although the restaurant chain reported first-quarter earnings and revenue that beat expectations. Cava reported earnings of 12 cents per share on revenue of $259 million, while analysts surveyed by LSEG expected earnings of 4 cents per share on revenue of $246 million. Of course, same-store sales growth has slowed and visitor traffic has declined year-on-year. HubSpot — Shares of the marketing software company fell 0.3%, giving back some of their gains on Tuesday. The stock jumped in the previous session after CNBC’s David Faber reported that Google parent Alphabet was in talks to offer all shares of HubSpot. Merck — The drugmaker’s shares fluctuated in premarket trading following news that it would acquire eye disease developer EyeBio for $3 billion. Merck will pay $1.3 billion upfront and up to $1.7 billion in future milestone payments. — CNBC’s Jesse Pound, Michelle Fox, Lisa Han, Sarah Min, Brian Evans and Hakyung Kim contributed reporting.
