Check out the companies making headlines before the bell:
eBay – eBay said it would offer “thousands of exclusive deals” on July 17, in a press release that appears directly aimed at Amazon, though it does not mention Amazon by name. The release suggests that customers don’t need to spend money on membership fees to buy the items they want.
American Airlines, Delta Air Lines, and United Continental – The airline stocks were all downgraded to “hold” from “buy” at Deutsche Bank. The firm said airlines typically underperform the market during periods of heightened macroeconomic and geopolitical risks, pointing to the current trade tensions.
PepsiCo – The snack and beverage giant was downgraded to “hold” from “buy” at Deutsche Bank, in a valuation call with the stock rising nearly 12 percent over the past two months and outperforming rival Coca-Cola. Coca-Cola shares are up 4.7 percent over that same period.
Roku – Roku was upgraded to “outperform” from “perform” at Oppenheimer, which said the provider of streaming video devices is seeing a rapid increase in time spent on its Roku Channel just nine months after its launch.
Herman Miller – Herman Miller reported adjusted quarterly profit of 66 cents per share, 8 cents a share above estimates. The office furniture maker’s revenue also came in above forecasts. Additionally, Herman Miller announced a 10 percent dividend increase to 19 and ¾ cents per share.
CBOE Global Markets – The exchange operator will open a new venue in Amsterdam for access to European clients after Britain leaves the European Union.
Unilever – The consumer products company has completed the $8.1 billion sale of its spreads business to private equity firm KKR. The sale of the business, which includes such brands as Country Crock, was first announced in December.
Colgate-Palmolive – Colgate is close to buying a minority stake in online retail startup Hubble, according to The Wall Street Journal. The paper said Colgate wants to use Hubble to sell its household items through a home subscription service.
Campbell Soup – Campbell is being pushed by hedge fund Third Point to explore a possible sale, according to the New York Post. The food company is currently in the process of reviewing its strategic plans, and a report by the NY Post last month said Kraft Heinz may be interested in acquiring Campbell.
Goldman Sachs, Morgan Stanley – The two investment banks got help from Fed officials on the recent stress tests, according to The Wall Street Journal. The paper said the firms were told they would pass the tests if they cut planned payouts to shareholders nearly in half.
Yelp – The online review website operator cannot be forced to remove posts regarding a San Francisco law firm even though a judge said the posts were defamatory. That ruling came Monday from the California Supreme Court.
Acxiom – Acxiom’s deal to sell its marketing solutions business to ad agency Interpublic Group is now official, following reports that a deal would soon be announced. Interpublic will pay the data mining company $2.3 billion in cash for the unit.