Early Movers: FedEx, Verizon, Volcano & more
Check out which companies are making headlines ahead of the opening bell Wednesday:
Cliffs Natural Resources (CLF) - The iron-ore producer dropped in premarket trading after Credit Suisse Group cut its share-price target to $1 from $10.
FedEx (FDX) - The shipper's shares fell in early New York trading after it posted disappointing second-quarter earnings. Competitor United Parcel Service (UPS) also fell.
General Mills (GIS) - The food company gained after it posted quarterly results that topped expectations.
Penn West Petroleum (Toronto Stock Exchange: PWT-CA)- The developer of petroleum and natural gas fell after reducing its first-quarter dividend to 3 cents from 14 cents.
Spirit Airlines (SAVE) - The carrier rose after saying it would start a $100 million buyback of its shares.
Verizon Communications (VZ) - The telecommunications company fell in premarket trading after Goldman Sachs Group downgraded its shares to neutral from buy.
Volcano (VOLC) - The maker of diagnostic equipment surged after Royal Philips said it would acquire the company for $1 billion.
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