Apple moving to 3-year iPhone cycle; Verizon strike to end; Bayer ready to up Monsanto offer

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Apple (AAPL)– The tech giant may take longer between major iPhone upgrades from now on. A report by Japan’s Nikkei says Apple will adopt a three-year cycle.

Verizon (VZ) – Unionized workers who have been on strike since April will likely be headed back to work. A tentative deal between Verizon and its unions has been reached. The agreement includes 1,400 new jobs and pay raises topping 10%.

Monsanto (MON) - The Sunday Times is reporting that Bayer (BAYRY) is ready to sweeten its all-cash offer for Monsanto as soon as this week. Monsanto rejected Bayer's $122 per share offer last week. It is the biggest takeover proposed by a German buyer.

Cliff Natural Resources (CLF) – JPMorgan upgraded Cliffs Natural Resources to overweight from neutral with a $7 price target. The investment firm said it expects an increase in steel prices to generate  higher near-term earnings growth.

Valeant Pharmaceuticals (VRX) – Details of the separation agreement between Valeant and its former CEO Michael Pearson have been released. In a regulatory filing, it was revealed that the company will pay Pearson $83,333 a month for the rest of the year to consult for the company and $15,000 for each month services are performed after 2016.