Early Movers: TIF, MRK, AAPL, CVX, RCL & More
Check out which companies are making headlines before the bell on Tuesday:
Tiffany —The luxury goods retailer reported first quarter profit of 70 cents per share, excluding certain items, 18 cents above estimates. Revenue was also well above consensus, with same store sales rising eight percent during the quarter.
Merck — Jefferies upgraded the drug maker to "buy" from "hold", calling Merck among the best restructuring plays in the drug group. The firm predicts Merck will spin off units like its animal and consumer health division as the pharmaceutical business underperforms.
Royal Caribbean — The cruise line operator had to cut a Grandeur of the Seas cruise short because of a fire on board. It also canceled the May 31st sailing to repair the damage.
Chevron — Chevron is lending $2 billion to a joint venture with Venezuela's state-run oil company. Chevron has a 40 percent stake in that venture, with the loan aimed at boosting production.
Omthera Pharmaceuticals — The company is being bought by AstraZeneca in a deal worth up to $443 million. The per-share price of $12.70 is an 88 percent premium to the heart drug specialist's closing price on Friday.
Valeant Pharmaceuticals — Valeant is buying Bausch & Lomb from private equity firm Warburg Pincus for $8.7 billion in cash. Valeant is seeking to strengthen its portfolio of eye care drugs, contact lenses, and ophthalmic surgical devices.
News Corp — The media giant is reviewing whether it has any record of a subpoena from the U.S. Justice Department for a Fox News reporter's phone records. DOJ said it informed the company about the subpoena in August 2010, but the company said it has no record of it.
Apple — Apple is at the center of an informal European Union antitrust investigation, with regulators asking mobile phone operators about Apple's sales tactics. The probe could become a formal one depending on its findings.
W.R. Grace — Goldman Sachs has started coverage of the chemical maker's shares with a "conviction buy" rating, saying Grace will benefit from strong cash flow and a rebounding construction market.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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