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topinforma · 8 years ago

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Early movers: DOW, DD, CALM, GIII, VIAB, AZN, DIS, UPS, AMZN & more

Check out which companies are making headlines before the bell:

Dow Chemical, DuPont – The two chemical companies have received European Commission approval for their planned merger, with some divestment conditions. The deal still needs U.S. approval, but many analysts have considered Europe’s approval the most difficult to obtain.

Health-care stocks – The entire sector is on watch today, following the Friday afternoon withdrawal of the GOP health-care reform bill. That list would include numerous stocks from insurers such as Aetna, Cigna, and UnitedHealth Group, to drugmakers like Abbott Labs, Merck, and Eli Lilly, to hospital operators like Tenet Healthcare, Community Health Systems, and HealthSouth.

Cal-Maine Foods – The egg producer fell 12 cents a share short of forecasts, with quarterly profit of nine cents per share. Revenue was well short of estimates, as well. The company said the egg market has been extremely volatile, with the latest results a reflection of lower market prices and weaker demand.

G-III Apparel – The maker of fashion and athletic apparel reported an adjusted quarterly loss of 16 cents per share, six cents a share wider than expected. Revenue also fell short of Street estimates. The company said it was pleased with its performance in the face of retail headwinds and the near-term dilutive effect of its Donna Karan acquisition.

Viacom – Viacom shares could rise 40 percent this year, according to a Barron’s article. The paper said new CEO Bob Bakish could boost the company’s fortunes with a focus on the Paramount Pictures Studio and a handful of its cable networks.

AstraZeneca – The drugmaker won China approval for its Tagrisso drug, a pill designed to treat lung cancer.

Walt Disney – Disney’s “Beauty and the Beast” dominated the weekend box office once again, taking in $88.3 million in North American ticket sales.

United Parcel Service – UPS was found to have illegally shipped millions of cigarettes to New York State addresses from Native American reservations. A judge ruled that New York State and New York City are entitled to damages due to unpaid taxes.

Barclays – The bank sold $1.6 billion in near-prime and subprime loans to privately held personal loan company Credit Shop, according to The Wall Street Journal.

Apple – Apple won a China victory when a court overturned a prior ruling against the company over iPhone patents. The court ruled that the iPhone 6 and iPhone 6 plus do not infringe on patents involving exterior designed that had been held by a local manufacturer that is now out of business. Separately, Apple was added to the “Focus List” at J.P. Morgan Securities, based on a projection of above-consensus iPhone sales.

Amazon – Dubai-based mall operator Emaar Malls is offering $800 million for Mideast online retailer Souq.com, following last week’s reports that Amazon had agreed in principle to buy it. Separately, a New York Times story said Amazon is considering physical stores that would sell furniture and home appliances.

MoneyGram – MoneyGram has struck a confidentiality agreement with rival money transfer company Euronet, which has made an unsolicited bid for buy MoneyGram for $15.20 per share.

Snap – Snap was rated “overweight” in new coverage at Morgan Stanley, noting the Snapchat parent’s engagement with hard-to-reach millennial users.

Starbucks – Starbucks was rated “outperform” in resumed coverage at Telsey Advisory Group, based on the coffee chain operator’s plans to maintain significant growth.

Adobe Systems – The software maker was upgraded to “buy” from “hold” at BTIG, which projects sustained growth in cash flow and earnings over the next few years.

Intuit – The tax preparation software company’s stock was removed from Goldman’s “Conviction Buy” list, although it retains a “buy” rating. Goldman said the environment for consumer tax companies has turned more challenging.

KB Home – The home builder’s stock was cut to “market perform” from “market outperform” at JMP Securities, based on valuation. The shares are trading near a 52-week high following last week’s upbeat earnings.

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