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Stocks making the biggest moves premarket: Allergan, General Electric, Qualcomm & more

Peter Schacknow

Check out the companies making headlines before the bell:

American Eagle Outfitters AEO  — American Eagle reported quarterly profit of 43 cents per share , beating estimates by a penny a share. The apparel retailer's revenue fell slightly short of Wall Street forecasts, however and American Eagle forecast weaker-than-expected current-quarter profit as it spends more on marketing and new store openings.

Allergan AGN  — Allergan said a new treatment for depression failed in three late-stage studies , and the drugmaker added that it was deeply disappointed in the results.

Zayo ZAYO  — Starboard Value has built a 4 percent stake in communications infrastructure maker Zayo Group , and sent a letter to Zayo asking it to consider a sale.

General Electric GE  — GE has hired an investment bank to explore a possible sale of its stake in a renewable energy joint venture, according to a Reuters report. GE is partners with Italy's Enel in the venture, and the stake is said to be worth more than $1 billion.

Stanley Black & Decker SWK  — The tool maker sued retailer Sears , accusing of breach of contract and trademark infringement over the "Craftsman" brand name. Stanley bought the brand two years ago, and says Sears violated its "limited" license to sell some Craftsman products by advertising that it was "the real home" of Craftsman.

Qualcomm QCOM  — Qualcomm is getting some help from the Defense and Energy departments in its dispute with the Federal Trade Commission (FTC) over smartphone royalties, according to The Wall Street Journal. Officials from those departments are said to be urging the FTC to settle its lawsuit with the chipmaker, supporting Qualcomm's contention that losses in a court battle could hurt its ability to compete with China's Huawei.

Five Below FIVE  — Oppenheimer initiated coverage of the discount retailer with an "outperform" rating, citing Five Below's continued ability to thwart unfavorable trends within the retail sector.

Amazon.com AMZN , JPMorgan Chase JPM , Berkshire Hathaway BRK.A  — The health-care joint venture between the three companies has been named "Haven,"  and a website for the operation has been unveiled.

Constellation Brands STZ  — The beer and spirits maker was rated "outperform" in new coverage at Credit Suisse, which points to predictable high-single digit revenue growth as well as an anticipated increase in free cash flow. Credit Suisse's price target of $230 per share compares to yesterday's close of $166.06.

Anheuser-Busch InBev ABI-BE  — RBC Capital downgraded the beer brewer's stock to "sector perform" from "top pick," saying the stock is approaching its prior price target and that the company has little prospect of growing its profit margins.

Estee Lauder EL  — The cosmetics maker's stock was upgraded to "overweight" from "neutral" at JPMorgan Chase, which said it has increased confidence in the company's ability to achieve its revenue and earnings goals following its recent Analyst Day.

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