Check out which companies are making headlines before the bell:
Baxalta — The drug maker will be acquired by Shire for $32 billion in cash and stock, valued at $45.57 per share.
Wells Fargo, JPMorgan Chase — Goldman upgraded Wells Fargo to "buy" from "neutral," while downgrading JPMorgan Chase to "neutral" from "buy." Goldman said Wells Fargo is well-positioned to deal with a variety of potential negative factors, such as lower oil prices or a slower China economy. Its downgrade of JPMorgan is based on recent outperformance and that valuation is now more accurately reflected in the stock's price.
American Eagle Outfitters — Telsey Advisory Group downgraded the apparel retailer's stock to "market perform" from "outperform," noting a recent slowdown in comparable-store sales growth.
IHS — The analytics firm announced the acquisition of Oil Price Information Service in a $650 million deal.
Hershey — JPMorgan Chase downgraded the chocolate maker's stock to "neutral" from "overweight," saying the company is overly optimistic about its earnings growth.
Apollo Education Group — The online college operator said it would consider strategic alternatives, even as it continues to move forward with its planned business transformation. Apollo said it is currently in discussions that could lead to a change in control of the company.
Williams-Sonoma — Wedbush downgraded the housewares retailer to "neutral" from "outperform," saying pressures on the company will persist and that the company stumbled in its e-commerce growth in 2015 following several years of success in that area.
Kohl's — The Wall Street Journal reported that the retailer is considering taking itself private or breaking itself up. The paper said Kohl's is concerned that its lower share price may make it a target for activist investors.
Yahoo — Yahoo plans to spend another $3 billion to boost its web content, according to the New York Post. Yahoo declined comment on the report, although it did say CEO Marissa Mayer would unveil future plans for the company soon. (Disclosure: CNBC has a content-sharing partnership with Yahoo's finance site.)
Apple — The company's Apple Music service has passed the 10 million subscriber mark, taking six months to reach that milestone. Separately, Mizuho upgraded Apple stock to "buy" from "neutral," saying short-term concerns and a recent price slump have created an attractive risk/reward profile.
Macy's — The retailer is being urged by activist investor Starboard Value to unlock the value of its real estate holdings, according to The Wall Street Journal. Starboard's proposal comes in a letter sent to the retailer's management over the weekend.
Delta Air Lines — Delta will be allowed to maintain its five daily flights between Love Field in Dallas and Atlanta, according to a court ruling. Delta and rival Southwest Airlines have been engaged in a dispute involving a gate-sharing agreement that expired last summer.
Southwest Airlines — Southwest reported an 8.6 percent increase in revenue passenger miles for December compared to a year earlier. For the fourth quarter, revenue passenger miles were up 11.1 percent.
Walt Disney — Disney's "Star Wars: The Force Awakens" remained atop the weekend box office for the fourth straight week, with $41.6 million in North American ticket sales. That brings its total to a record $812 million.
Volkswagen — Volkswagen will announce an expended compensation program for diesel vehicle owners today. The news will be unveiled at the Detroit Auto Show.
General Motors — GM goes to trial today in a suit over its 2014 ignition switch recalls involving millions of vehicles. Six trials are set for this year involving the faulty ignition switches and their relationship to injuries and deaths.
Alcoa — Alcoa has won a $1.5 billion supply contract from General Electric's aviation unit.
Arch Coal — Arch has filed for Chapter 11 bankruptcy protection, as part of a restructuring agreement reached with lenders who hold more than $4.5 billion of the coal mining company's debt.
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