Early Movers: JCP, DELL, NFLX & More
Senior Producer, CNBC
Check out which companies are making headlines before the bell on Monday:
J.C. Penney - Sources tell CNBC Deutsche Bank is shopping about 10 million shares of Penney stock held by Vornado Realty Trust. Vornado currently has an approximately 8.5 percent stake in the retailer, or about 18.6 million shares.
Dell - Shareholder Southeastern Asset Management has sent Dell a second letter opposing its proposed buyout transaction at $13.65 per share. Southeastern holds an 8.4 percent stake in the computer maker.
Netflix - RBC has initiated coverage on Netflix with an "outperform" rating, with a price target of $210 per share. The firm said Netflix has achieved a level of sustainable growth and profitability that isn't reflected in the current share price.
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Qualcomm - Qualcomm is increasing its quarterly dividend by 40 percent and announced a new $5 billion stock repurchase program. The new quarterly payout will be $0.35 per share compared to the previous dividend of $0.25.
Vivus - The drugmaker is offering certain patients substantial discounts on its weight loss drug Qsymia. That comes amid initial demand that's fallen below the forecasts of some Street analysts.
Gardner Denver - The company is near a deal to sell itself to private-equity firm KKR for more than $75 per share, according to Reuters. Gardner Denver is a maker of industrial pumps, and the two sides have been negotiating since KKR made an initial bid of $75 per share or about $3.7 billion on Feb. 21.
Jazz Pharmaceuticals - The drugmaker has announced a secondary offering of nearly 5.4 million shares, with the proceeds going directly to the selling shareholders.
Facebook - Facebook is the target of a new lawsuit related to last May's initial public offering. Shareholder Gaye Jones accuses company directors and officers of not disclosing weaker revenue trends due to a user shift to mobile access. Experts say this lawsuit may be regarded differently than prior actions because Jones has owned Facebook stock since before the IPO.
Heinz - CEO William Johnson will get about $56 million in termination pay if he is not retained after the company's acquisition by Berkshire Hathaway and 3G Capital. Heinz says the compensation would reflect the success of Johnson's 15-year stint as CEO.
US Airways - The carrier and American Airlines parent AMR have received a Justice Department request for more information regarding their proposed merger. The two companies said they expect to respond promptly to the request and continue working with DOJ on its review of the deal.
Google - The company is said to control too much of China's smartphone industry, according to a white paper issued by that country's technology ministry. The paper said the country's mobile operating system is too dependent on Google's Android software.
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Anadarko Petroleum - Anadarko has reportedly launched an auction of a 20 percent stake in a Mozambique gas field, in conjunction with Indian billionaire Venugopal Dhoot. Reuters reported the stake could bring in as much as $4.5 billion.
Express Scripts - Express Scripts has issued a study saying less expensive generics brought down spending on common diseases for the first time in 20 years in 2012. However, the pharmacy benefits manager said that decline was offset by a rise in specialty drug treatments.
Toyota Motor - The automaker is set to unveil a reshuffling of top executives this week, according to Reuters. The report said managers who are lower down in the corporate chain will be given more authority to make day-to-day decisions.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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