Top Stories
Top Stories
Market Insider

Early movers: AGN, DAL, BID, TSLA, BRK, GOOGL, AMZN & more

Stocks to Watch: August 8, 2016

Check out which companies are making headlines before the bell:

Allergan — The drugmaker reported adjusted quarterly profit of $3.35 per share, and revenue of just below $3.7 billion. Allergan reported the sale of its Anda drug distribution business to Teva as a discontinued operation for the most recent quarter, something many analysts did not include in their estimates. On that basis, earnings would be slightly above forecasts and revenue very slightly below.

Delta Air Lines — The airline experienced a nationwide computer system outage that has grounded all its flights, due to an overnight power outage in Atlanta.

Sotheby's — The auction house earned an adjusted $1.51 per share for its latest quarter, well above estimates of $1.05 a share. Revenue also beat forecasts, despite lower sales in the global art market.

Tyson Foods — The poultry, beef, and pork producer earned an adjusted $1.21 per share for its latest quarter, beating estimates of $1.06 a share. Revenue beat estimates, as well, on strong sales across all of Tyson's categories.

Berkshire Hathaway — Berkshire reported quarterly profit of $3,042 per class A share, above estimates of $2910.80 per share. The Warren Buffet-controlled company's revenue did fall short of Street projections, however. Berkshire's overall results were helped by investment gains.

Tesla Motors — Tesla said it would need $1.1 billion in cash for the third quarter for building its gigafactory and other needs. That amount represents about a third of the cash currently on hand. — Amazon's Japan offices were raided by antitrust regulators, according to the Nikkei business daily. The paper said Amazon Japan is suspected of pressuring retailers to give it more favorable terms than they offer on other online retail sites.

Novartis — The drugmaker released results from a clinical trial of its new asthma pill which showed promising results. The pill — the first new one for asthma in decades — could be filed for regulatory approval by 2019, according to the company.

Alphabet — Alphabet lost executive Chris Urmson from its Google unit's self-driving car project. Urmson did not specify what he would be doing next after 7 1/2 years on the project, but said he was "ready for a fresh challenge."

Time Warner — Time Warner's Warner Brothers unit has sold the commercial TV rights to the eight "Harry Potter" movies to Comcast's NBCUniversal, which will air primarily on the USA and SyFy channels. Separately, the Warner Brothers movie "Suicide Squad" came in first at the weekend box office and smashed August records despite negative reviews.

Mattress Firm — Mattress Firm will be bought by African retailer Steinhoff International for $2.4 billion or $64 per share. That's more than double the mattress retailer's Friday closing price of $29.74.

Wal-Mart — Wal-Mart will announced its purchase of online retailer today, according to Recode. The Wall Street Journal had reported last week that a deal was close and that the price was likely to be about $3 billion.

Intercontinental Hotels — Intercontinental is not being considered for a takeover by China's Anbang, according to a spokesperson for the insurance company. London's Sunday Times had reported that Anbang was in talks with bankers about an offer to buy the hotel operator.

Vail Resorts — Vail Resorts bought Canadian resort operator Whistler Blackcomb for about $1.1 billion.

Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and