Check out which companies are making headlines before the bell:
Vantiv – U.S. credit card processing firm Vantiv announced plans to acquire Worldpay, the U.K.’s largest payment processing firm, in a cash and stock deal worth £7.7 billion ($9.94 billion). Worldpay has said it was approached by both Vantiv and JPMorgan Chase about a possible buyout.
Cabela’s – The seller of guns, fishing poles, and other outdoor gear said the Federal Trade Commission (FTC) has closed its investigation of its deal to be acquired by Bass Pro Shops. Cabela’s shareholders are set to vote on the deal on July 11.
Pfizer – The drugmaker exited a Brazilian joint venture after failing to find a buyer for its 40 percent stake. Reuters reports that Pfizer accepted a token payment worth 30 cents for the stake.
Ericsson – Ericsson Chairman Leif Johansson plans to depart from that role before the company’s next annual meeting in 2018. The mobile equipment company has seen its share value drop by nearly 50 percent over the past two years.
Apple – Apple may get help from the U.S. government in its tax dispute with the European Union, according to a Reuters report. The government is said to be seeking to intervene in Apple’s appeal of the decision which ruled that it owed $14.8 billion in taxes to Ireland.
Monogram Residential Trust – Monogram agreed to be acquired by Greystar Growth and Income Fund for about $2 billion. Monogram is a real estate investment trust specializing in high-end apartment communities.
Baidu – Baidu is partnering with Conexant to develop voice-enabled artificial intelligence applications. The China-based internet search provider said the partnership is aimed at helping developers integrate the technology into their own products.
Intel – Intel is expected to be overtaken by Samsung as the top seller of semiconductors by revenue for the first time. The numbers will be unveiled in Samsung’s upcoming quarterly earnings report on July 28.
Wal-Mart – The retail giant has received FTC approval for its $310 million acquisition of retailer Bonobos, announced on June 16.
Oracle – Oracle was upgraded to “overweight” from “sector weight” at KeyBanc, which points to the business software maker’s success in converting existing customers to its newer cloud-based offerings.
Walt Disney – Disney’s issues with its cable TV channels extend beyond ESPN, according to a Wall Street Journal article which highlights the drops in viewership for Disney’s channel’s aimed at children.
General Motors – The car maker’s China joint venture reported a 4.3 percent year-over-year June increase in China vehicle sales.
Movado Group – The watchmaker acquired JLB Brands, the owner of the Olivia Burton watch brand, for about $77.5 million in cash. Movado expects the deal to add to earnings immediately.
Buffalo Wild Wings – The restaurant chain’s stock was downgraded to “equal-weight” from “overweight” by Stephens, which also cut its 12-month price target to $145 per share from $195. Stephens said a proxy fight and the resignation of CEO Sally Smith has resulted in more questions than answers for the company.
Bristol-Myers Squibb – The company’s immune-oncology drug Opdivo met its primary goal in a study involving high-risk melanoma patients who have undergone a resection. This past weekend, the drugmaker got a bullish mention in Barron’s, which put forth the notion that investors have been too focused on the areas where Opdivo has not been approved instead of the lucrative markets where it is already present.
Source: Investment Cnbc
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