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Early Movers: CAT, BIIB, BA & More

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Published: Monday, 28 Jan 2013 | 8:05 AM ET
Peter Schacknow By:

Senior Producer, CNBC

Check out which companies are making headlines before the bell on Monday:

Caterpillar- Caterpillar earned $1.04 per share for the third quarter, including an $0.87 goodwill impairment charge. Revenue was roughly in line with estimates, with Caterpillar issuing a wide ranging forecast for 2013 of $7 to $9 per share. CEO Doug Olberhelman said that reflects the amount of global economic uncertainty still in the mix.

Biogen Idec - Biogen Idec reported quarterly profit of $1.40 per share, excluding certain items, six cents short of estimates, though revenue was just about in line with consensus. The shortfall comes even though sales of its drugs to treat multiple sclerosis rose.

Boeing - The ongoing probe into the 787 Dreamliner's recent problems continues. The investigation has now shifted to the maker of the jet's maintenance systems.


Bed Bath & Beyond - Goldman Sachs has downgraded the retailer's shares to "sell" from "neutral," saying Bed Bath is losing market share and that profit margins are declining.

JPMorgan Chase - Chief Risk Officer John Hogan is taking a leave of absence, though he plans to return to the bank in early summer. Deputy Chief Risk Officer Ashley Bacon will serve as interim head of that unit.

Transocean - Investor Carl Icahn has raised his stake in the company to 5.61 percent from 1.56 percent, saying in a U.S. Securities and Exchange Commission filling that the oilfield services company should declare a dividend of at least $4 a share. If it doesn't, Icahn said he will propose it at the company's next annual meeting.

(Read More: Icahn, Ackman in Epic Showdown of Billionaires)

Salesforce.com - Salesforce is planning a four-for-one stock split, after the business software provider's board approved the split last month. It will be submitted to shareholders for an approval vote on March 20.

Apple - The stock is coming off a multiyear low on Friday, and sentiment probably won't be helped by a Wall Street Journal article pondering the question of whether Apple has lost its "cool factor" to rival Samsung and its best-selling Galaxy S smartphone line.

(Read More: Analysts Wait for a Reason to Love Apple Again)

Barnes & Noble - The book retailer plans to shut down as many as a third of its stores over the next decade. That's according to Mitchell Klipper, the CEO of the company's retail group, who told The Wall Street Journal that the company still has a good business model even with fewer stores.

Apollo Global Management - Apollo is expected to be named the preferred bidder for Twinkies and other Hostess Brands snack brands, according to the New York Post. The paper said an announcement could come as soon as today.

NetApp - Barclays has upgraded the data storage equipment maker's shares to "overweight" from "equalweight."

Best Buy - BB&T Capital has upgraded the electronics retailers shares to "buy" from "hold."

Facebook - Raymond James has upgraded Facebook shares to "outperform" from "market perform."

News Corp. - Morgan Stanley has upgraded News Corp. to "overweight" from "equalweight."

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com


 Print
These are the stocks posting the largest moves before the bell.
  Price   Change %Change
CAT ---
BIIB ---
BA ---
BBBY ---
JPM ---
RIG ---
CRM ---
AAPL ---
593 ---
BKS ---
APO ---
NTAP ---
BBY ---
FB ---
NWSA ---

   
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