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Early Movers: CBST, MRK, EBAY, SBUX, INFY & more

Traders on the floor of the New York Stock Exchange.
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Traders on the floor of the New York Stock Exchange.

Check out which companies are making headlines before the bell:

Cubist Pharmaceuticals—The drug maker agreed to be bought by Merck for $102 per share in cash, or about $8.4 billion. That represents a 35-percent premium over Friday's close for Cubist shareholders.

Southwest AirlinesGoldman Sachs upgraded the airline's shares to "buy" from "neutral," saying airline industry fundamentals remain favorable and that Southwest is likely to outperform its peers.

EBay—Stifel Nicolaus upgraded the stock to "buy" from "hold," referring to the company as the "real deal" in the e-commerce sector while most people are focused on Amazon.

Starbucks, Burger King Worldwide, Chipotle Mexican Grill—Goldman Sachs considers the restaurant segment a "neutral" in a new report, but said Starbucks is a "conviction buy" and that Burger King and Chipotle are "buys" as well. Conversely, it has "sell" ratings on Panera Bread and Yum Brands, saying Panera has competitive challenges and Yum may face lingering effects from its China food safety issues.

Infosys—Several founders of the IT outsourcing firm Infosys are seeking to raise $1.1 billion by selling shares, according to Reuters. Four founders and their families are said to be offering a total of 32.6 million shares at about $32 each, a four-percent discount to Friday's close.

Credit Suisse—The bank is reportedly considering cutting back its prime brokerage business, as it seeks to scale down its investment banking risk.

CBS and Dish Network—The two have reached a new multiyear carriage agreement, just hours after CBS pulled its programming from the satellite TV operator.

United Technologies—Company directors questioned ex-CEO Louis Chenevert on his decreasing involvement with the company before his departure, according to a report in the Wall Street Journal.

Blackstone—The private-equity firm struck a deal to sell 26 office buildings in Northern California to California-based REIT Hudson Pacific Properties for $3.5 billion.

Chevron, Exxon Mobil, Halliburton, Schlumberger—Oil-related stocks will be on watch today, as oil prices tumble once again. Brent crude reached a more than five-year low, while WTI crude is holding only slightly above its most recent low. That follows a price forecast cut in a new report from Morgan Stanley.


By CNBC's Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com