Early movers: AAL, DAL, FDX, FCX, AAPL & more
Check out which companies are making headlines before the bell:
Dollar Tree (NASDAQ: DLTR) - The discount retailer earned an adjusted 67 cents per share for its latest quarter, beating estimates by 5 cents. However, revenue and a same store sales increase of 2.7 percent were both below analyst estimates.
American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL) - Deutsche Bank upgraded the two airline stocks to "buy" from "hold," citing attractive valuations and the idea that the positive impact of lower energy prices on earnings may be understated.
FedEx (NYSE: FDX) - Citi added FedEx to its recommended list, based on FedEx's exposure to e-commerce growth and attractive valuation among other factors.
Freeport McMoRan (NYSE: FCX) - Citi downgraded the mining company's shares to "neutral" from "buy," with an unattractive pricing environment a key factor.
SunEdison (NYSE: SUNE) - Steven Cohen's Point72 Asset Management disclosed a 5.1 percent stake in the solar energy company.
Valeant Pharmaceuticals (Toronto Stock Exchange: VRX-CA) - Valeant is buying the rights to AstraZeneca (London Stock Exchange: AZN-GB)'s experimental psoriasis drug brodalumab, several months after Amgen (NASDAQ: AMGN) dropped out.
Apple (NASDAQ: AAPL) - Apple is exploring a move into original programming to complete with Netflix (NASDAQ: NFLX) and others, according to Variety.
M&T Bank (NYSE: MTB) - M&T settled a lawsuit which had charged the bank with lending bias in the New York City market. The bank agreed to improve its mortgage lending policies in a settlement with the nonprofit Fair Housing Justice Center.
Chipotle Mexican Grill (NYSE: CMG) - Chipotle was sued over claims that its food does not contain genetically modified organisms, or GMOs. Plaintiff Colleen Gallagher claims that Chipotle's offerings are not, in fact, GMO-free. The restaurant chain said it would contest the lawsuit.
Whirlpool (NYSE: WHR) - Whirlpool has approached British appliance maker AGA Rangemaster Group about a possible bid, although Whirlpool said there is no assurance an offer will actually be made. AGA had already agreed to be bought by US oven-maker Middleby (NASDAQ: MIDD) in a $198 million deal.
Bank of America (NYSE: BAC) - BofA's plan to combine the chairman and CEO roles is drawing opposition from California pension funds Calpers and Calstrs. The move will be the subject of a shareholder vote at a special meeting September 22.
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