Check out which companies are making headlines before the bell:
American Apparel —Soon-to-be-ousted CEO Dov Charney reportedly handing over his entire stake and voting rights to hedge fund Standard General. Reuters reports Charney is making the move in his latest attempt to remain at the helm.
Morgan Stanley–The firm's planned sale of an oil trading unit to Russia's Rosneft has been submitted to a confidential government committee for review, according to the Wall Street Journal.
Paccar —Germany's Volkswagen is denying a report that it is planning to bid for the U.S. truck maker. An analyst note at research firm Bernstein had quoted a Daimler executive as saying he had been told VW wanted to buy Paccar.
Cree —The lighting products maker's shares were upgraded to "outperform" from "perform" at Oppenheimer, which said Cree is the best pure play in the LED lighting space.
—By CNBC's Peter Schacknow
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