Early movers: GM, AGN, VRX, HAS, V, MA, IBM & more
Check out which companies are making headlines before the bell:
General Motors (GM)-The company said it does not yet have a fix for Cadillac CTS cars recalled last month over ignition switch issues. Dealers have been ordered to stop selling some versions of the CTS because of that issue.
Reynolds American (RAI)-The tobacco producer's RJ Reynolds Tobacco unit will likely win an appeal of a $23.6 billion damage award, according to lawyers interviewed by Reuters. Reynolds plans to contest the award, which emanated from a suit brought by the widow of a Florida man who died of lung cancer in 1996.
Allergan (AGN)-Valeant Pharmaceuticals (Toronto Stock Exchange: VRX-CA) has complained to the SEC over claims made by Allergan in its attempts to buy Valeant, saying the claims are "misleading and manipulative."
Halliburton (HAL)-The oilfield services provider matched estimates with second quarter profit of 91 cents per share, but revenue was above estimates and the company also increased its share repurchase authorization.
Hasbro (HAS)-The toy maker reported second quarter profit of 36 cents per share, matching estimates, but revenue was shy of expectations. Hasbro does say its inventory is now well-positioned for this year's holiday shopping season.
SunTrust (STI)-The bank beat estimates by four cents with second quarter profit of 81 cents per share, excluding certain items, with revenue also beating forecasts. SunTrust was able to benefit from growth in its loan portfolio.
EMC (EMC)-The company is being pushed to spin off its VMWare (VMW) unit, according to the Wall Street Journal. The paper said Elliott Management wants to convince the data storage equipment maker that its stock would get a boost if it were to jettison VMWare, in which it owns a majority stake.
AK Steel (AKS), Steel Dynamics (STLD)-The two steelmakers have bought the U.S. assets of Russia's Severstal for a total of $2.3 billion. AK Steel is buying Severstal Dearborn while Steel Dynamics is buying Severstal Columbus.
Visa (NYSE:V), MasterCard (MA)- Visa and MasterCard lost a court ruling late Friday in suits involving credit card fees. A judge ruled that the credit card issuers would have to face antitrust lawsuits from retailers who had opted out of a class action settlement in 2012 over those fees.
Juniper Networks (JNPR)-Juniper shares could rise 30 percent or more, according to Barron's, which said the stock is undervalued relative to industry peers and that its prospects are improving.
CBS Outdoors (CBSO)-The outdoor ad company is acquiring a number of assets from privately held Van Wagner Communications for $690 million.
IBM (IBM)-The stock was downgraded to "sell" from "hold" by Societe Generale, which said IBM's growth needs to be based on more revenue, not on lower tax rates, share buybacks, and cost cuts.
Apple (AAPL)-JMP Securities upgraded Apple to "market outperform" from "market perform", saying new markets and new products will lead to resurgent growth and margin expansion.
-By CNBC's Peter Schacknow
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