Facebook, Amazon, Gilead, Boeing, GE and more
Check out companies that make headlines before the clock:
Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $ 5 billion fine. The Federal Trade Commission has conducted a survey of Facebook's privacy practices.
Amazon.com – Amazon.com has started its fifth annual "Prime Day", which this year extends to 48 hours. The event started at 3 pm ET and Jefferies analysts said the event will see Amazon add more premieres despite an increase in annual fee.
Gilead Sciences ̵[ads1]1; Drugmaker invests $ 5.1 billion to increase its stake in Belgian-Dutch biotech company Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize its drugs over a 10-year period.
Boeing – Boeing 737 Max jet can remain grounded by 2020, according to government and industry authorities who spoke to The Wall Street Journal. American Airlines extended its cancellations of flights involving jet at the beginning of November, the fourth time it has been done.
General Electric – The stock was downgraded to "neutral" from "buy" at UBS, citing valuation, a decline in interest rates and ongoing power market failures.
Carrizo Oil & Gas – The oil and gas company will be purchased by Callon Petroleum in a share sale transaction valued at $ 3.2 billion, or $ 13.12 per Carrizo share. It represents a 24% premium to Carrizo's Friday closing price of $ 10.50.
Tiffany – Tiffany was downgraded to "neutral" from "buy" at Citi, based on concerns about near-time dynamics despite what Citi looks so good on long-term
Crocs – Crocs was upgraded to "overweight" from "neutral" at Piper Jaffray, based on the belief that the shoemaker has seen solid traffic.
Molson Coors – Bank of America / Merrill Lynch downgraded the beer brewery to "underperform" from "buy" and cut the price target for the stock to $ 50 per share from $ 70. The company is concerned that Molson Coors needs to increase spending to stabilize market shares for core brands and accelerate investment in premium segments.
International Speedway, Speedway Motorsports – Both shares were both downgraded to "underperform" from "Market Execution" at Wells Fargo, which points to the lack of upward potential bets in play for both racetrack operators. The report also shows that Nascar's popularity is "mature" and that the aging infrastructure will require significant investment.
Slack Technologies – Slack was considered "overweight" in re-coverage at Barclays for growth prospects, despite calling it a "demanding" valuation for the original messaging system vendor.
Sealed air – sealed air was downgraded to "underweight" from the "sector weight" of KeyBanc, pointing to the growth volume trends of the industrial gas maker, as well as the degree of balance utilization.
