Check out the companies making headlines before the bell. Walgreens Boots Alliance – Shares fell 1.6% after the company's fiscal second-quarter report was released. Walgreens generated revenue of $37.05 billion during the quarter, beating LSEG's forecast of $35.86 billion. However, the company also narrowed its full-year adjusted earnings guidance due in part to the “challenging retail environment.” Estee Lauder – Shares rose more than 3% after Bank of America upgraded to buy from neutral. The company pointed to efforts to restore profitability, new products and improve the share in the prestigious beauty sector. Allstate – Insurance stock rose 0.9% after HSBC upgraded to buy from hold. Analyst Vikram Gandhi highlighted the company's “decisive management measures” and less restrictive regulatory backdrop. RH – The stock is up more than 9% pre-market. Although RH missed both its bottom line and bottom line in the fourth quarter, the company expects better-than-expected revenue growth in 2024 thanks to improving demand trends. Management expects full-year revenue growth to decline between 8% to 10%, while analysts polled by FactSet expected 6.4%. TD Synnex – Shares fell 4.7% after the company launched a secondary public offering of 9 million common shares currently held by Apollo Global Management. The IT company also allowed the simultaneous buyback of 500,000 shares, as part of its existing share purchase programme. Chemours – Shares fell more than 8% after the chemical company said it was cooperating with the Securities and Exchange Commission and the U.S. Attorney's Office regarding its internal review of its financial practices. An internal review found that executives manipulated cash flows to meet targets tied to their bonuses. Vornado Realty Trust – Shares rose 1.2% after Morgan Stanley upgraded the office building REIT to equal weight from underweight. The Wall Street firm noted improved activity, particularly in leasing and occupancy in New York, where Vornado has more exposure, compared to the West Coast or Sun Belt. — CNBC's Jesse Pound, Sarah Main and Michelle Fox contributed reporting
