Check out which companies are making headlines before the bell on Monday:
Smithfield Foods — Smithfield should be broken up rather than sold to a China firm, according to activist investor Starboard Value. Starboard puts Smithfield's value at 44 - $55 per share if broken up, compared to the $34 per share price offered by Shuanghui Holdings.
Facebook— Investors are speculating about a press event set for Thursday, with the invitation merely describing the introduction of a "big idea" that a "small team" has been working on.
Chevron — The energy giant's shares were downgraded to "hold" from "buy" at Jefferies, which notes an outperformance by the stock to its peers in recent months, and the idea that it will struggle to grow its free cash flow from current levels.
Zoetis — Zoetis will join the S&P 500 Index after the close on June 21. The animal health company replaces First Horizon, which moves to the S&P MidCap 400. First Horizon is replacing retailer Coldwater Creek , which moves to the S&P SmallCap 600 index.
Lowe's — The home improvement retailer will buy most of the assets of Orchard Supply Hardware Stores, which has filed for Chapter 11 bankruptcy protection. Orchard is the unit that was spun off by Sears Holdings in late 2011. Lowe's will pay $205 million in cash for those assets.
Aetna — The health insurance giant will no longer sell health policies to individual consumers in California as of year's end. However, Aetna will continue to sell policies to employers and Medicare beneficiaries in that state.
Vodafone — The company will need to increase its offer for German cable TV operator Kabel Deutschland by about 1 billion euros, according to a report in London's Sunday Times. Vodafone's initial offer of 10 billion euros was rejected last week.
Weyerhaeuser — A busy day for the company, which named Doyle Simons as its new chief executive officer as of August 1. Simons has been on the forest products producer's board since February 2012, and had been chairman/CEO of International Paper subsidiary Temple-Inland. Simons replaces the retiring Dan Fulton. Separately, Weyerhaeuser announced it would buy Longview Timber from Brookfield Asset Management for $2.65 billion, and that it was considering strategic alternatives for its real estate unit. The company also announced a 28 million share secondary offering.
Big Lots —The discount retailer got a positive mention in this weekend's Barron's, which points to the hiring of a new CEO and initiatives to boost sales.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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