Check out which companies are making headlines before the bell:
GlaxoSmithKline – The drugmaker signed a new $43 million deal with privately held artificial intelligence company Exscientia. The two plan to use AI technology to speed up the drug discovery process.
Las Vegas Sands, Wynn Resorts – These and other casino companies that operate in Macau could see a rise today, after gaming revenue in the Chinese special administrative region rose 25.9 percent in June compared to a year ago. That marked the 11th straight monthly increase.
Caterpillar – Caterpillar did not submit required export filings with the government in recent years, according to The Wall Street Journal, although the heavy equipment maker hasn’t been accused of any wrongdoing. That finding was part of a government probe into possible tax violations, although the company said it believes its position on its tax liability is correct.
Goldman Sachs – Goldman is reviewing the performance of its commodities business, according to a Bloomberg report, following a poor performance in the first half of this year.
Bristol-Myers Squibb – The drug company’s stock got a positive mention in Barron’s, which said the stock is undervalued because of setbacks for the company’s immune-oncology drug Opdivo. The paper said investors appear to be ignoring the lucrative markets for which the drug has already been approved.
Microsoft – Microsoft’s plans to reorganize its global sales force this week were elaborated upon in a Wall Street Journal article, quoting people familiar, after those plans were first reported in the Puget Sound Business Journal last week. The move that would involve an unspecified number of layoffs and a focus on cloud-computing services.
AK Steel – The steelmaker is buying Precision Partners Holding Co. for $360 million in cash. Precision Partners is a maker of automotive manufacturing equipment.
Bankrate – The provider of personal finance information such as mortgage rates is being acquired by digital marketing company Red Ventures for $14 per share in cash, or about $1.4 billion. That’s about nine percent above Bankrate’s Friday close of $12.85.
International Speedway – The operator of the Daytona, Talledega, and other well-known auto racing tracks reported adjusted quarterly profit of 30 cents per share, two cents below forecasts, although revenue exceeded estimates. The company said its marketing efforts are helping to slow recent attendance-related revenue trends.
Source: Investment Cnbc
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