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Early movers: TGT, PRU, CL, NFLX, AAPL, TSLA & more

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

Check out which companies are making headlines before the bell:

Target—The retailer acknowledged that it will indeed raise its quarterly dividend by 7.7 percent and boost its share buyback program to $10 billion. It had put a press release on its website earlier on Tuesday and then quickly withdrew it.

Community Health Systems, HCA, Tenet Healthcare—A new Wedbush report calls these stocks its top picks in the hospital sector, an industry it said has good potential for both volume growth and profit margin improvement.

Prudential Financial—The insurer added $1 billion to its stock buyback program.

Goodyear Tire—The stock was downgraded to "underperform" from "buy" at CLSA, citing valuation.

Nvidia—Nomura downgraded the chip maker's stock to "neutral" from "buy," saying a number of factors could pressure demand for Nvidia's video graphics cards in the second half of the year.

NetApp—RBC Capital upgraded its rating on NetApp to "outperform" from "sector perform," saying the data management company's appointment of a new CEO could cause value to be unlocked.

Colgate-Palmolive—The consumer products maker's stock was upgraded to "hold" from "sell" at Societe Generale, which said the bulk of headwinds are starting to turn. The report does say that the Brazilian market remains an issue.

Regeneron, Sanofi—The two drug makers got good news from an FDA panel, which recommended approval of cholesterol drug Praluent. The full FDA is not required to follow panel recommendations, but usually does so.

Qorvo—The mobile technology company's stock will replace tobacco producer Lorillard in the S&P 500 after the close of trading Thursday. Lorillard is being acquired by Reynolds American.

Netflix—Netflix shareholders approved an increase in the company's share authorization, the precursor to a stock split. There's no indication yet for an exact ratio for the split.

Apple—The newly announced Apple Music service is facing antitrust scrutiny from the attorneys general of New York and Connecticut. The probe will center on Apple's negotiations with music companies on its paid subscription service.

Tesla—Tesla Chief Financial Officer Deepak Ahuja will retire this year, according to CEO Elon Musk, but Ahuja will stay to help search for a successor. The announcement was made at Tesla's annual shareholder meeting.

HCC Insurance Holdings—HCC is being bought by Japan's Tokio Marine for $78 per share in cash or $7.5 billion. The deal for the Houston-based company is the biggest ever overseas acquisition by a Japanese non-life insurance company.

Mattress Firm—The company reported first quarter profit of 33 cents per share, 6 cents below estimates, with revenue also below forecasts, although sales did jump significantly from a year earlier. Same-store sales for the mattress retailer were up 1.3 percent.


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