What's Shaking: Friday's Early Movers
Take a look at some of Friday morning's early movers:
JPMorgan —The investment bank posted earnings that met Wall Street estimates, but revenue fell short of expectations.
Novartis —The multinational pharmaceutical company is slashing nearly 2,000 jobs in the U.S. ahead of the patent loss of top-selling blood pressure drug Diovan.
McDonald’s —The fast-food chain extended its sponsorship of the Olympics to 2020. McDonald’s is one of 11 top sponsors who contribute an estimated $100 million each for every two-Games package of one winter and one summer Games.
US Airways Group , Delta Airlines and TPG Capital—These are among several companies interested in potential bids for bankrupt AMR, the parent of American Airlines.
Caterpillar —Barclays raised its price target on the Dow component to $128 from $115.
Deere —Barclays cut its price target on the heavy equipment maker to $100 from $102, while Jeffries raised its price target on the firm to $83 from $80.
Domino’s Pizza —Barclays boosted its price target on the pizza chain to $28 from $26.
Dr. Pepper Snapple —Wells Fargo cut its rating on the beverage maker to “market perform” from “outperform.”
Shutterfly —The online photo publisher announced its CEO Mark Rubash swill leave the company in February.
International Game Technology —The company confirmed plans to buy social-media developer Double Down Interactive for up to $500 million, in another bet on the future revenue potential of online gamers.
Metabolix —The firm announced that Archer Daniels Midland was terminating its Tellas joint venture with the bio-science company.
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