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Investment

Early movers: HOG, ABM, GRUB, FAST, NVDA, TWTR & more

Check out which companies are making headlines before the bell:

Harley-Davidson – Bernstein downgraded the motorcycle maker to “market perform” from “outperform,” saying demographic studies point to a “long, uphill ride” to sustainable unit growth.

ABM Industries – ABM struck a deal to buy privately held janitorial services rival GCA Services for $1.25 billion in cash and stock. GCA is currently owned by Goldman Sachs and private-equity firm Thomas H. Lee Partners.

GrubHub – The food delivery service was upgraded to “outperform” from “market perform” at Cowen, which also increased its price target to $54 per share from $45. Cowen said GrubHub’s growth profile and leadership are underappreciated in an improving market.

Fastenal – The industrial and construction supplies maker reported quarterly profit of 52 cents per share, beating estimates by two cents a share. Revenue also topped forecasts and the company said it has been growing well in the face of market headwinds.

Nvidia – SunTrust upgraded the graphics chipmaker’s stock to “buy” from “hold” and increased the price target to $177 from $124. SunTrust said the move comes despite a big run up in Nvidia shares over the last 18 months, noting growth opportunities in datacenter, gaming, and automotive markets.

Twitter – Twitter named former Intuit executive Ned Segal as chief financial officer. He’ll replace Anthony Noto, who had been serving in that role on an interim basis in addition to his role as chief operating officer.

United Continental – The airline reported that its June revenue passenger miles increased by 3.4 percent.

Wells Fargo – Wells Fargo is selling its share registration business to Britain’s Equiniti Group for $227 million. Separately, Reuters reports that the bank has cut back its quarterly auto loan originations by almost 30 percent in the nine months through March 31, and has also begun consolidating its collections operation.

Apple – Apple is setting up its first China data center in the southern province of Guizhou. It is partnering with a local internet services company in a move to comply with new cybersecurity laws introduced last month.

Amazon.com – Amazon said Prime Day was on track to be the biggest sales day in its history, according to the most recent figures.

Symantec – Symantec is mulling the sale of its web certificates business, according to a Reuters report. The maker of anti-virus and other security software could get more than $1 billion for the unit.

Western Digital – The hard disk drive maker won a court order allowing it to access Toshiba databases and semiconductor samples. That order is part of Western Digital’s effort to stop its chipmaking partner from selling its chip unit without its permission. Western Digital is one of the bidders for that unit.

Dow Chemical – Dow will sell a portion of its Brazil corn seed business to China’s CITIC for $1.1 billion. It’s part of Dow’s effort to gain the country’s approval for its planned merger with DuPont.

Source: Investment Cnbc
Early movers: HOG, ABM, GRUB, FAST, NVDA, TWTR & more

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