Early Movers: MMM, BBRY, DIS, F, AMZN & More
Check out which companies are making headlines before the bell on Monday:
Onyx Pharmaceuticals — The drug maker rejected a $10 billion, $120/share cash takeover offer from Amgen. Onyx characterizes the price as "significantly undervaluing" the company, and is now weighing a possible sale to others.
3M —Morgan Stanley downgraded the Dow component's stock to "equal-weight" from "overweight", saying 3M's positives are largely priced into the stock after its "notable outperformance".
Nokia — The handset maker will buy out Siemens' shares of their networking equipment joint venture for $2.2 billion, a lower price than analysts had expected.
Walt Disney —The Disney/Pixar production "Monsters University" kept the top spot at the weekend box office for the second straight weekend, with $46.1 million in North American ticket sales. Sony had a disappointment with its "White House Down" garnering a less than expected $25.7 million during its debut weekend.
Ford — The automaker agreed to fix sticky throttles on Taurus and Sable models from the 2000 through 2003 model years, about 468,000 vehicles. The automaker and regulators had received about 100 complaints about those throttles, with five crashes but no injuries being reported in connection with the problem.
Amazon —The Internet commerce giant will begin a bidding service for high end art, according to the Wall Street Journal.
Vivus —The company is making its Qsymia weight loss treatment to many pharmacies as of today, earlier than the expected mid-July availability. Customers can find the medication in about 8,000 Walgreens, Costco, and Duane Reade retail pharmacies nationwide.
Best Buy — Credit Suisse has reinstated coverage of the electronic retailer's stock with an "outperform" rating, calling it the "best near term idea" in its coverage.
Apple — Raymond James upgraded Apple to "strong buy" from "outperform", citing valuation and saying near-term financials will stabilize. Separately, Reuters reports that Apple has applied to register "iWatch" as a trademark in Japan.
A.K. Steel — Wells Fargo downgraded the steel maker's stock to "market perform" from "outperform", saying the company has a lack of "positive catalysts" that will prevent it from capitalizing on a turn in industry fundamentals.
BlackBerry — The smartphone maker's stock was downgraded to "equal-weight" from "overweight" at Morgan Stanley.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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