Early movers FIATY, AAPL, GOOG, BAC, CPB, S & more
Check out which companies are making headlines before the bell:
Fiat —The automaker finally reached a long-sought agreement to buy the shares of Chrysler it doesn't already own for $3.65 billion. The stock has been owned by a United Auto Workers union health care trust.
Apple–The iPhone maker was downgraded to "market perform" from "outperform" at Wells Fargo, which points to valuation as well as possible profit margin pressure at whatever time Apple introduces another new version of the iPhone.
Bank of America–Citi upgraded B of A to "buy" from "neutral", saying the bank is no longer impacted by legacy issues.
Google–The search giant is shutting down recently acquired Bump, so that the Bump team can work on other Google projects. The unit is the developer of software that allows smartphones to transfer information by tapping them together.
Campbell Soup–Campbell has issued a recall for about 300 cases of Prego Traditional Italian sauce, saying there is a risk of spoilage.
Retailers–Jefferies upgraded retailers American Eagle, Ann Inc, Chico's FAS, and Urban Outfitters to "buy" from "hold", saying they've done well in a challenging environment, while cutting Abercrombie & Fitch and Aeropostale to "hold" from "buy", citing what Jefferies sees as a long recovery period following difficult times.
Sprint–The mobile carrier's stock was cut to "market perform" from "outperform" at Cowen & Co., which still has a positive long term outlook but said the stock is currently ahead of where it should be.
T-Mobile –Goldman Sachs removed the stock from its "conviction buy" list, although a "buy" rating remains. Goldman cites a more balanced risk/reward ratio at current levels, but also raised the 12-month price target to $37 based on T-Mobile's possible value as a takeover target.
—By CNBC's Peter Schacknow
Questions? Comments? Email us at firstname.lastname@example.org