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Early movers: CVX, FB, YUM, NCLH, JCP, WMT, FSLR & more

Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters
Traders work on the floor of the New York Stock Exchange.

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

Chevron — The energy firm plans to cut its budget by 24 percent next year as oil prices are expected to remain low. Reuters notes the dramatic cutback in spending is likely to be echoed by other oil majors who will soon release spending plans, with rival ConocoPhillips set to release its 2016 budget on Thursday.

Glencore — The mining and trading company aims to cut net debt by almost $3 billion to $13 billion by the end of next year, CEO Ivan Glasenberg said. The firm also plans to cut capital spending to $3.8 billion in 2016, down from $5 billion.

Petrobras — Moody's Investors Service downgraded all ratings for the Brazil-based energy firm to Ba3 from Ba2 and placed them on review for possible further downgrade. Moody's also put Brazil's Baa3 rating on review for downgrade.

Wal-Mart Stores — The retail giant said it is testing its own mobile payment system called Walmart Pay, which allows customers to pay using credit, debit prepaid card, or a Wal-Mart gift card. The first phase is due to launch at a few stores in Arkansas Thursday.

Facebook — The social media giant is planning to launch in coming months a professional version of the popular social network site, a company executive told Reuters. The service, Facebook at Work, began beta-testing in January. Facebook plans to charge "a few dollars per month per user" for premium services such as analytics and customer support, a company spokeswoman said.

Yum Brands — The fast-food company said same-restaurant sales in China fell about 3 percent in November, while same-store sales fell 1 percent at KFC outlets and 9 percent at Pizza Hut restaurants. The firm holds its investor day Thursday in Texas and is expected to discuss details of its planned separation into two independent publicly traded companies.

Norwegian Cruise Line Holdings — Citi is adding the cruise operator to its focus list based on a solid outlook for the next two years, given moderate improvement in European trends and continued strength in the North American market.

J.C. Penney — Nomura upgraded the retailer to "neutral" from a "reduce" and raised the price target by $1 to $9 a share, based on expectations of "a lot of opportunity for topline growth and margin expansion" under the new CEO Marvin Ellison. Nomura said it believes the firm will achieve profitability in 2017.

First Solar — The firm announced full-year guidance for 2016 Wednesday of net sales of $3.9 to $4.1 billion, compared to Reuters estimates of $4.1 billion. Earnings per share is forecast to be $4 to $4.50 a share. The firm noted capital expenditures of $300 to $400 million are higher than 2015 forecast levels.

Reuters contributed to this report.