Check out which companies are making headlines before the bell:
Apple – The company was sued by Qualcomm for patent infringement. The chipmaker claims that Apple breached six Qualcomm patents that increase battery life and it is asking for an import ban on certain iPhones, as well as monetary damages.
Mondelez – Mondelez said second-quarter revenue growth would be cut by three percent from the recent global cyberattack, and that it would incur some one-time costs for both the second and third quarters. The snack maker does say that all of the affected systems are now up and running.
Berkshire Hathaway – Billionaire Warren Buffett‘s firm is buying power-transmission company Oncor’s bankrupt parent, Energy Future Holdings, for $9 billion in cash. This is Berkshire’s biggest purchase since it bought Precision Castparts last year for $32 billion.
Tesla – Tesla is on watch again after registrations in California fell 24 percent in April from a year ago according to data from IHS Markit. California is the largest market for the electric car maker. The stock has already fallen nearly 15 percent this week.
Nielsen – The ratings service is allowing TV networks to hide poor ratings for certain shows and on certain days by purposely misspelling show names, according to the Wall Street Journal.
Campbell Soup – Campbell Soup is buying organic soup maker Pacific Foods for $700 million in cash. Campbell will fund the acquisition through a combination of long-term and short-term debt.
Sparton Corp. – Sparton agreed to be bought by British defense contractor Ultra Electronics for $23.50 per share, compared to Sparton’s Thursday close of $22.36. Sparton is an Illinois-based maker of anti-submarine warfare devices, and had confirmed in late June that it was in talks to be acquired by Ultra.
Winnebago – The stock was rated “buy” in new coverage at Stifel Nicolaus, with a $40 price target. Despite recent strength in Winnebago’s share price, Stifel said new products, good management, and still-reasonable valuation make the recreational vehicle maker a good buy. Stifel also began coverage on rival RV maker Thor Industries, rating it a “hold” with a price target of $110.
Stanley Black & Decker – The tool maker is rated “buy” in new coverage at MKM partners, pointing to the company’s strong brand name, solid balance sheet, and moves to improve cash flow.
Synchronoss Technologies – The mobile software developer said it had begun the process of examining strategic alternatives to maximize shareholder value, including a possible sale.
Icon – The U.K.-based maker of drug development technology was added to the “Conviction Buy” list at Goldman Sachs, which increased the price target on the stock to $117 from $99.
Source: Investment Cnbc
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