×

Early movers: TWTR, KMI, YHOO, DD, AAPL, INTC, COST, LULU & more

Traders work on the floor of the New York Stock Exchange.
Getty Images
Traders work on the floor of the New York Stock Exchange.

Take a look at some of Wednesday's early movers:

Dow Chemical, DuPont — The two chemical giants are expected to announce a merger by Thursday. The deal was first reported by The Wall Street Journal late Tuesday and will likely be followed by a separation into businesses focusing on agricultural, materials services, and specialty products operations.

Kinder Morgan — The pipeline operator late Tuesday cut its quarterly dividend to 12.5 cents a share, down sharply from the current 51 cents a quarter. Separately, RBC Capital also downgraded the firm to "sector perform" from "outperform" and cut its target to $19 from $29.

Freeport-McMoran — The copper and gold producer said it will suspend its common stock dividend, further revise its oil and gas capital spending plans, and curtail copper production "in response to market conditions." The move comes after a late-August decision to cut spending.

Yahoo — The company confirmed it will not spin off its stake in Alibaba. Sources told CNBC late Tuesday that Yahoo would not move forward with the plan. The Internal Revenue Service earlier this year declined to rule on whether the transaction would be tax-free. Separately, a Yahoo 8-K filing said Max Levchin notified the firm on Dec. 4 that he was resigning from the firm's board of directors, effective immediately.

Apple — The tech giant suspended plans for a live Internet-based television service, Bloomberg reported, citing a source familiar with the situation. Apple will focus instead on using its App Store as a platform for media companies to sell directly to customers, the article said.

Twitter — The microblogging site confirmed Tuesday it is testing a timeline format for its tweets, calling it an experiment. The new format will result in tweets being sorted by relevance instead of in reverse chronological order.

DreamWorks Animation — Macquarie initiated coverage of the media company with an "outperform" rating, based on expectations that China will be the world's largest movie market by 2018 and that DreamWorks is well positioned to capture that space.

Intel — Nomura upgraded the semiconductor giant to "buy" and raised the price target to $42 a share based on the stock's resilience in spite of a significant first-quarter revenue miss and other negative news. "We think the market is telling us that Intel is a survivor," the note said, also citing expectations for a strong year in Intel's data center group.

Costco — The firm's comparable-store sales fell for the third-straight quarter, unexpectedly declining 1 percent in the first quarter under pressure from the strong dollar.

Lululemon Athletica — The yogawear retailer reported a lower-than-expected quarterly profit as bloated inventories and spending on international expansion squeezed margins. The firm also cut the upper end of its full-year revenue estimate.

American Airlines — The airline operator said it continues to expect consolidated passenger revenue per available seat mile to be down 5 percent to 7 percent in the fourth quarter from the same period last year. The firm also said total revenue passenger miles were up 4.3 percent in November from the same month last year. Total capacity declined 0.2 percent from November 2014.

Reuters contributed to this report