Market Insider

Early movers: C, PPG, AAPL, HES, SPG, ZNGA & more

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Check out which companies are making headlines before the bell:

Citigroup – Citi sold its fixed-income analytics business known as The Yield Book to the London Stock Exchange for $685 million in cash.

Credit Suisse – The bank has been reprimanded by Swiss financial watchdog FINMA over its dealings with Malaysia's state fund 1MDB, which was embroiled in a money-laundering scandal.

Canadian National Railway – The railroad operator reached an agreement with a union representing 3,000 conductors on Monday, narrowly averting a strike deadline that had been set for this morning.

PPG Industries – PPG said it is still considering whether to make another bid for rival paint maker Akzo Nobel. It issued the statement after a court rejected a request by investors in the Dutch company to take action against it for rejecting PPG's overtures.

Restaurant Brands International – The company's Burger King unit is in hot water with Belgium's King Philippe, over its ad campaign asking Belgians to vote online to "crown" it the true ruler of the country. Burger King is planning to launch in Belgium next month.

Activision Blizzard, Electronic Arts – These and other video game makers could be affected today, following an analysis by gaming data firm SuperData that digital video game sales pulled back from March's record high of $8 billion. April sales totaled $7.7 billion, according to the firm.

Royal Bank of Scotland – RBS settled a suit with shareholders involving a financial crisis-era capital raising. The settlement will cost the state-owned bank about $257 million.

Card Connect – Card Connect will be bought by First Data in a marriage of two payment-processing technology companies. First Data will pay $15 per share in cash, compared to Card Connect's Friday close of $13.65, for a total deal value of about $750 million.

Apple – Apple is working on a computer chip that would be dedicated to powering artificial intelligence capabilities on its devices, according to a Bloomberg report.

Philip Morris, Altria, Reynolds American – These and other tobacco stocks could be affected by a World Health Organization report saying that the tobacco growing process is causing massive harm to the environment.

Hess – The energy producer was downgraded to "neutral" from "buy" at Goldman Sachs, which cited a less attractive free cash flow profile relative to its peers.

Simon Property Group – Mizuho upgraded the mall operator to "buy" from "neutral," noting more favorable free cash flow growth compared to rivals. It called the company a "global powerhouse" with a history of prudent capital allocation.

Zynga – The mobile game maker was upgraded to "overweight" from "neutral" at Piper Jaffray, based on Zynga's focus on live services, moves to contain costs, and its plan to release just a small number of new titles this year.

Ambarella – The chip maker's stock was downgraded to "sector weight" from "overweight" at Pacific Crest Securities, saying the stock's price already reflects the potential for Ambarella's participation in the autonomous driving market.

PVH – The apparel maker was upgraded to "outperform" from "neutral" at Credit Suisse, which cited opportunities in the international market.