Check out which companies are making headlines before the bell:
— The beverage and snack giant earned an adjusted $1.20 per share for the fourth quarter, 4 cents a share above estimates. Revenue also beat forecasts, and the company announced a 7 percent dividend hike, as well. PepsiCo gave a full-year outlook that fell slightly below Street forecasts, with CEO Indra Nooyi saying the company expects global economic challenges this year.
— Anthem filed suit against , seeking a temporary restraining order against Cigna's move to end their $48 billion deal. Cigna had sued Anthem late yesterday, saying regulatory hurdles mean that Anthem's planned purchase of Cigna cannot possibly be completed, and seeking a multibillion-dollar reverse breakup fee.
— The hotel operator beat estimates by 5 cents a share, with adjusted quarterly profit of 70 cents per share. Revenue also beat forecasts. Hilton was helped by increased bookings at higher prices.
, — The Wall Street Journal reports that the companies have separate plans to use their Amazon Echo and Google Home smart speakers as home telephones, although implementation of those features does face some hurdles such as telecom regulations.
— The medical technology company announced an offer to buy Codman Neurosurgery unit for $1.045 billion in cash.
, — The two were rated "buy" in new coverage at Deutsche Bank and called "top picks" by the firm. Deutsche Bank said it was recommending names that have a higher probability of value creation in the current environment.
— The drugmaker halted a late-stage trial of an experimental Alzheimer's treatment. Merck determined that the treatment was ineffective.
— Berkshire Hathaway nearly quadrupled its stake in Apple by buying 42 million more shares and benefiting from the rise to an all-time high yesterday. Berkshire also added to its stakes in airline companies , , , and , and took a new stake in , all according to its latest quarterly Securities and Exchange Commission (SEC) filing.
— Express Scripts beat estimates by a penny a share, with adjusted quarterly profit of $1.88 per share. The pharmacy benefit manager's revenue came in below Street forecasts and it also gave a lower-than-expected outlook for the current quarter.
— AIG took a $5.6 billion charge against earnings to boost reserves for claims, dragging the insurance company's quarterly loss well below estimates at $2.72 per share. However, AIG also announced a $3.5 billion stock buyback program, following strong results in areas such as consumer insurance.
— Fossil earned $1.03 per share for the fourth quarter, 15 cents a share shy of estimates. The watch maker's revenue also missed forecasts. Fossil also gave worse-than-expected guidance for the current quarter, with ongoing impact from currency fluctuations, as well as a decline in overall sales of traditional watches.
— Humana announced a $1.5 billion stock buyback and raised its quarterly dividend to 40 cents per share from the prior 29 cents a share. The news follows the end of its deal to merge with , which was announced on Tuesday morning.
— Activist investor Trian Fund Management has taken a stake in P&G now worth $3.5 billion, according to Trian's quarterly SEC filing. The consumer products giant represents Trian's largest-ever holding, as measured by dollar value.
— The asset manager will be bought by Japan's Softbank for $3.3 billion, or $8.08 per share, compared to a closing price of $6.21 on Tuesday.
— CEO Jack Dorsey added nearly 426,000 new shares to his holdings, according to a new SEC filing. The purchase was worth just over $7 million.
— The private-equity firm hired investment banks to explore either a sale or initial public offering of the Chuck E. Cheese restaurant chain, according to Reuters.
— The railroad operator is asking shareholders to vote on compensation benefits for prospective CEO Hunter Harrison, and on demands by activist investor Paul Hilal that his fund, Mantle Ridge, be reimbursed for "exceptionally unusual" compensation benefits for Harrison. The vote has not yet been scheduled, but was called for after talks between CSX and Hilal fell apart.