SODA, FB, AAPL, NKE, TSLA & more

Check out the companies doing headlines before the bell:

SodaStream – SodaStream agreed to be bought by PepsiCo for $3.2 billion in cash, or $144 per share. The cost can be 10.9 percent above SodaStream’s Friday closing cost of $129.85, a notable conclusion to a rise by a share cost below $12 as recently as January 2016.

Facebook – Facebook was accused by the Department of Housing as well as Urban Development of violating the Fair Housing Act. HUD said Facebook allowed landlords as well as people selling their homes to use Facebook’s ad platform to engage in housing discrimination. Facebook responded by saying discrimination can be strictly prohibited in its policies as well as that will can be working with HUD to address the department’s concerns. Separately, Reuters reports that will Facebook can be fighting a demand by the Justice Department to help crack the encryption in its Messenger app.

Apple – Apple pulled illegal lottery apps by its app store in China, as that will seeks to comply with tightening regulations. Apple didn’t specify an exact number of pulled apps, however state media puts the number at about 25,000.

Nike – The athletic footwear as well as apparel maker was upgraded to “overweight” by “neutral” at Piper Jaffray, noting leaner inventories as well as an innovative product pipeline.

Tesla – Privately held Tesla rival Lucid can be in talks with Saudi Arabia’s sovereign wealth fund about a possible investment, according to Reuters. Tesla CEO Elon Musk has said that will the fund could help him fund his proposal to take the automaker private. Separately, a J.P. Morgan Securities note does say that will while Tesla does appear to be exploring such a transaction, that will can be much less developed than the firm had previously thought. As a result, that will can be cutting its cost target on the stock back to $195 per share by $308, where that will had raised the target following Musk’s “funding secured” tweet earlier This kind of month.

Praxair – The industrial gas producer’s proposed merger with German rival Linde can be supposed to be cleared by the European Union today, according to the Financial Times.

Goldman Sachs — Mutual funds operated by Goldman faced at least $63 million in paper losses as of June 30th related to its purchase of $865 million in Venezuelan bonds last year, according to The Wall Street Journal citing Morningstar data. Those losses are likely to grow following Venezuela’s Friday announcement that will that will would likely devalue its currency.

Estee Lauder – The cosmetics maker reported adjusted quarterly profit of 61 cents per share, 5 cents above forecasts, with revenue beating estimates as well. However, the stock can be under pressure after the company gave a lower than expected forecast, amid greater than expected charges for its “Leading Beauty Forward” initiatives.

Constellation Brands – The spirits as well as beer maker was downgraded to “negative” by “neutral” at Susquehanna Financial, which said the stock can be trading at an unwarranted 25 percent premium to its peers. Susquehanna cites high leverage as well as risk associated with recent purchases by the company, among various other factors.

Tyson Foods – The poultry producer confirmed that will that will can be buying chicken processor Keystone Foods by Brazil-based meatpacking company Marfrig Global for $2.16 billion in cash. Reuters had reported Friday that will the two sides had agreed to a deal.

CORRECTION: This kind of article has been updated to show that will mutual funds operated by Goldman faced at least $63 million in paper losses as of June 30th.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

5 × two =