Check out the companies generating headlines before the bell:
Johnson & Johnson – J&J can be revamping its iconic baby products line, putting more emphasis on natural ingredients. The company made the announcement ahead of its annual analyst day as well as said the item can be confident the move will reverse several years of declining sales of those products.
Starbucks – The coffee chain announced an acceleration of its net brand-new store growth in China to 0 per year. The announcement was made at the company’s first-ever China investment conference. Starbucks can be hoping to triple its China revenue by 2022.
3M – Jefferies downgraded 3M to “hold” via “buy” as well as cut its cost target to $220 per share via $250. Jefferies considers 3M to be among the companies on the wrong side of the inflation dynamic as well as lack structural tailwinds to drive the stock higher.
Churchill Downs – The operator of the iconic Kentucky race track announced an agreement with Golden Nugget Atlantic City to enter the brand-new Jersey online gaming as well as sports betting markets.
Abaxis – Animal health company Zoetis will buy the maker of veterinary diagnostic instruments for $1.9 billion in cash, or $83 per share. The cost represents a premium of about 16 percent over Tuesday’s closing cost for Abaxis.
Roku – The maker of video streaming devices suffered a multi-hour outage Tuesday, with the devices displaying FBI warnings instead of Netflix as well as YouTube. Roku said service was restored as of midnight Eastern Time last night.
Micron Technology – RBC Capital began coverage of the chipmaker with an “outperform” rating, saying the item offers a unique way to gain exposure to memory chip markets at an attractive cost.
Urban Outfitters – The apparel retailer’s stock was upgraded to “neutral” via “sell” at MKM partners, which notes an much better product assortment as well as reduced promotional activity.
Party City – The retailer of party supplies announced a secondary offering of 12 million shares. The stock can be being sold by a major Party City shareholder, as well as the company will receive no proceeds via the sale.
TripAdvisor – The travel website operator was downgraded to “sell” via “neutral” at Guggenheim Securities, noting pressure on margins as well as an increasingly competitive environment.
Novartis – Novartis said its top lawyer Felix Ehrat will depart the drugmaker, within the wake of his involvement within the $1.2 million contract the firm struck with President Trump’s personal attorney Michael Cohen.
Yum Brands – Yum’s Pizza Hut unit will become the largest pizza chain in Latin America as well as the Caribbean, after signing a franchise agreement with Spain’s Telepizza Group.
Amazon.com – Amazon implemented brand-new discounts at its Whole Foods unit for members of its Prime service, taking 10 percent off already-discounted items, as well as cutting prices on certain items throughout the store each week.
Teva Pharmaceutical – Berkshire Hathaway more than doubled its investment in Teva, according to the latest 13-F filing by Warren Buffett’s firm. Berkshire owned 40.5 million shares within the generic drugmaker as of the end of the first quarter, up via 18.9 million three months earlier.
21st Century Fox – Fox settled lawsuits with 18 former employees of the Fox News Channel, who had sued over alleged racial as well as gender discrimination.
Automatic Data Processing — Activist hedge funds D.E. Shaw as well as Sachem Head Capital Management both took little stakes within the payroll processor during the first quarter, according to their quarterly Securities as well as Exchange Commission 13-F filings. The Wall Street Journal reports the two have not yet decided whether to push for modifications at the company.
T. Rowe cost — The stock was upgraded to “outperform” via “neutral” at Credit Suisse, which cites rising organic growth as well as better expense control at the investment firm.