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Investment

Early movers: KITE, GILD, LFUS, CBS, EXPE, GE, WDC, AMZN, VMC & more

Check out which companies are making headlines before the bell:

Kite PharmaGilead Sciences announced a deal to buy Kite for $11.9 billion in cash, or $180 per share, 29 percent more than Kite’s closing price on Friday. The drugmakers expect the deal to close during the fourth quarter of this year.

Littelfuse — The company announced it would buy fellow chip maker IXYS for about $750 million in cash and stock, worth about $23 per share. That’s about 44 percent more than the Friday closing price for IXYS.

CBS — The media company announced plans to buy Australian customer Ten Network Holdings and launch a streaming service in that country.

Expedia — Expedia Chief Executive Officer Dara Khosrowshahi has been chosen as Uber’s new CEO, according to sources. He was picked over former General Electric CEO Jeff Immelt and Hewlett Packard Enterprise CEO Meg Whitman.

General Electric — GE is implementing plans to cut costs and increase profitability in its industrial software business and is also considering a possible stake sale in the unit, according to a Reuters report.

Western Digital — Western Digital Chief Executive Stephen Milligan is reportedly in Tokyo to finalize a purchase of Toshiba’s memory chip business, according to Reuters. A sale would end a months-long dispute over the sale of the unit.

Amazon.com — Amazon officially takes over ownership of Whole Foods Market today, having promised price cuts and special discounts for members of its Prime service.

Vulcan Materials — Vulcan struck a deal to buy Canadian construction materials company Polaris Materials for about $202 million, subject to the approval of Polaris shareholders.

Infosys — Infosys co-founder Nandan Nikekani officially returned to the India-based IT services company as chairman today, and said finding a new permanent CEO would be among his top priorities.

Bristol-Myers Squibb, Pfizer — Bristol-Myers and Pfizer announced data showing a lower risk of stroke and lower rates of major bleeding in patients taking their blood thinning drug Eliquis compared to competing drugs. The two drugmakers are presenting their findings today at a conference in Barcelona, Spain.

Johnson & Johnson — The company’s Janssen Pharmaceuticals unit announced favorable results in a phase 3 study involving its blood-thinning drug Xarelto. The study found the drug significantly reduced major cardiovascular events in certain heart patients.

Source: Investment Cnbc
Early movers: KITE, GILD, LFUS, CBS, EXPE, GE, WDC, AMZN, VMC & more

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