Stocks making the biggest moves premarket: Kraft Heinz, IBM, CBS, Tesla, Boeing & more
Check out the companies making headlines before the bell:
Tyson Foods TSN — The poultry and beef producer reported adjusted quarterly profit of $1.20 per share, 6 cents a share above estimates. Revenue also exceeded forecasts. The company said its chicken segment is poised for improvement after hitting what it believes are profit margin lows for the year.
Kraft Heinz KHC — The food company said it would restate its earnings for 2016 and 2017 , due to misstatements in its original filings related to procurement operations. However, Kraft Heinz said the restatements would not be material. The misstatements, according to the company, were due to misconduct on the part of some employees although none were members of senior management.
IBM IBM — IBM said the Justice Department has concluded its review of its proposed acquisition of Red Hat without imposing any conditions. IBM said it expects to close the deal for Linux software distributor in the second half of the year.
CBS CBS — CBS announced that Norah O'Donnell would succeed Jeff Glor as anchor of its flagship CBS Evening News program.
Berkshire Hathaway BRK.A — Berkshire saw operating profit rise to $5.56 billion during the first quarter from $5.29 billion the prior year. The earnings report was released prior to Berkshire's widely followed weekend annual meeting.
Anadarko Petroleum APC — Occidental Petroleum increased the cash portion of its $38 billion cash-and-stock bid for Anadarko, as it seeks to convince Anadarko to abandon its deal to be acquired by Chevron.
Tesla TSLA — Tesla bid for a tariff exemption was rejected by U.S. trade officials. Tesla had sought the exemption for the Chinese-manufactured technology that controls its Model 3 vehicle.
Sinclair Broadcast Group SBGI — Sinclair announced a deal to buy 21 regional sports networks from Walt Disney DIS for $9.6 billion. The deal had been widely reported to be imminent on Friday before the late-day official announcement.
Boeing BA — Officials say Boeing did not tell the Federal Aviation Administration for 13 months that it had inadvertently made a safety alarm optional on the now-grounded 737 Max jet. Boeing issued a statement saying it only discovered the issue after deliveries had begun, but that it did not represent critical safety data.
Fiat Chrysler FCA-IT — The automaker's $307.5 million settlement over diesel emissions was approved by a U.S. judge. The settlement involves about 100,000 owners of diesel vehicles that allegedly had illegal software allowing excess emissions.
Dish Network DISH — Dish was upgraded to "neutral" from "underperform" at Credit Suisse, which thinks video subscriber losses for the satellite TV provider will lessen in the second half of the year.
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