Early movers: AMAT, DB, AXP, DIS & more
Take a look at some of Monday's early movers:
Applied Materials (AMAT) plunged in premarket trade on the firm's joint Sunday announcement with Tokyo Electron (Tokyo Stock Exchange: 8035.T-JP) that the companies will not complete a merger. The U.S. Department of Justice said the deal would not allow for sufficient competition. Applied Materials also announced on Sunday a $3 billion share repurchase program over the next three years, beginning in the third quarter of fiscal 2015.
Sony (Tokyo Stock Exchange: 6758.T-JP) gained in premarket trade following news the Japanese consumer electronics firm raised its operating profit estimate for fiscal 2015 to about $2.53 billion (300 billion yen), or four times its previous estimate, the Nikkei reported on Saturday.
Deutsche Bank (XETRA:DBK-DE) was sharply lower in premarket trade after the firm said it would transform its operating model . Last week, the institution was fined $2.5 billion over alleged interest rate manipulation.
Sea World Entertainment (SEAS) jumped in premarket trade after Goldman Sachs upgraded the stock to "buy," citing opportunities in Orlando and new management under CEO Joel Manby, who took over on April 7, 2015. Goldman also downgraded Six Flags (SIX) to "neutral" from "buy" on limited continued upside as the shares reached the price target.
American Express (AXP) edged lower before the bell after Nomura downgraded the stock to "neutral" from "buy" on the lack of positive catalysts in the near term, now that the firm's investor day and earnings announcement are over.
Disney (DIS) gained in premarket trade following an upgrade to "buy" at Guggenheim, which expects earnings beats from new films "Avengers" and "Star Wars." The assets should also generate related consumer product sales and opportunities in theme parks and future media, Guggenheim said.
Twitter (TWTR) fell in early trade after Suntrust downgraded the stock to "neutral" from "buy," noting equally divided market sentiment on the social media company's first quarter will likely keep the stock range-bound.
Apple (AAPL) gained before the bell, ahead of its earnings report after the close. The iPhone maker was also initiated "buy" at Brean Capital on expectations of greater iPhone sales and underappreciated leverage potential on operating expenses.
-Reuters contributed to this report.
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