Check out which companies are making headlines before the bell:
Tyson Foods – The food producer earned an adjusted $1.28 per share for its latest quarter, 10 cents A share above estimates. Revenue also exceeded forecasts as the company’s beef and pork segments performed well.
Horizon Pharma – The drugmaker reported adjusted quarterly profit of 41 cents per share, well above the 10-cent-a-share consensus estimate. Revenue was also well above forecasts, boosted by a 70 percent jump in sales of Horizon’s rare disease medicines.
UnitedHealth Group – The health insurer has named former GlaxoSmithKline CEO Andrew Witty and Morehouse School of Medicine President Valerie Montgomery Rice to its board of directors.
Berkshire Hathaway – Berkshire reported a 15 percent decline in second-quarter profit, falling below analysts’ forecasts. The decline was led by smaller investment gains and insurance underwriting losses.
Deutsche Bank – Deutsche Bank fell out of a newly compiled list of the world’s top 15 private banks. The 2016 rankings – put together by wealth management researcher Scorpio Partnership – showed private banking assets at Deutsche Bank were down 28 percent last year, pushing it down five places to number 16 on that list.
Tesla – Tesla lowered the price of its Model X SUV by $3,000 to $79,500, noting improved profit margins on that vehicle. Separately, the electric car maker announced its intention to sell $1.5 billion in a debt offering, in order to bolster its balance sheet while it tries to rapidly scale up production of its Model 3.
General Motors – GM is recalling nearly 800,000 pickup trucks to deal with an issue that could affect power steering. The affected models are 2014 Chevrolet Silverado 1500 and GMC Sierra 1500 trucks.
Apple – Apple will release a version of the Apple watch later this year that can directly make calls on cellular networks, according to a Bloomberg report. Current versions of the watch need to be connected to an iPhone to have cellular capability.
Sprint – The wireless carrier has resumed discussions T-Mobile US about a possible merger, according to a Bloomberg report. Masayoshi Son – the billionaire who leads major Sprint shareholder Softbank – is said to be seeking consolidation to reverse customer losses.
Chemours – The DuPont spin-off was upgraded to “neutral” from “sell” at UBS, which said it is more confident in the chemical maker’s growth outlook following its recent quarterly results. UBS raised its price target on the stock to $50 from $36.
Source: Investment Cnbc
Early movers: TSN, MAR, BABA, COL, DB, TSLA, GM & more