Lorillard –The tobacco big will be acquired by Reynolds American for $27.4 billion in cash and stock, or $68.88 per share. The two had publicly acknowledged their talks late last week, and CNBC had previously reported that the discussions were taking place.
GoPro–JMP Securities began coverage of GoPro with an "outperform" rating, saying the high definition camera maker has established itself as a "durable multimedia and active lifestyle brand."
Time Warner–Evercore downgraded the stock to "equal-weight" from "overweight" on a valuation basis, after the stock approached its prior $75 price target.
Comerica–The bank reported second quarter profit of 80 cents per share, beating estimates by four cents. Among the positives: Comerica was able to register a small gain in net interest margin from the prior quarter.
Twitter–Macquarie upgraded the stock to "neutral" from "underperform," saying it sees limited downside because of potential user growth and strong financial fundamentals.
Valero Energy—The energy producer predicting second quarter profit of $1.10 to $1.25 per share. That would fall below current Street consensus of $1.39, with the company citing seasonal weakness in the Gulf Coast market.
Apollo Education Group–The Department of Education said it would review federal financial aid programs at the for-profit education provider. The review comes amid increased scrutiny for companies like Apollo and Corinthian Colleges.
Lockheed Martin–Lockheed now has approval from U.S. military officials to fly its F-35 fighter jet. The company and the military want to fly the jet before potential buyers at the Farnborough air show this week.
Google–The tech giant's Nest Labs has officially launched an industry standards group aimed at devices for the interconnected home. The group is competing with another initiative led by Qualcomm.
Microsoft–The software company will announce its biggest round of job cuts in five years this week, according to a published report. The cuts involve the integration of the Nokia handset unit, which Microsoft purchased last year.
Staples–Staples has ended an in-store post office program, after protests by postal workers over the lack of union employees within those operations.
Novartis–The company will license "smart lens" technology from Google for its Alcon eye care unit. It will develop medical uses for that technology, particularly focusing on helping patients with diabetes.
CVS–The pharmacy chain has bought Navarro Discount Pharmacy, the largest Hispanic-owned drug store chain in the U.S., for an undisclosed amount.
—By CNBC's Peter Schacknow
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