Check out the companies making headlines before the bell:
Starbucks — Outgoing Executive Chairman Howard Schultz said a recent slowdown in China sales is only temporary, and hinted at a possible collaboration with Alibaba founder Jack Ma. Schulz spoke at an event at the coffee chain’s Roastery store in Shanghai. Separately, Starbucks announced plans to eliminate plastic straws from all its stores globally by 2020.
PayPal – PayPal CEO Dan Schulman told Germany’s Handelsblatt newspaper that the payment processing company is looking for further acquisitions and that it is ready to spend up to $3 billion per year on M&A.
Twitter – Twitter suspended more than 70 million accounts in May and June to reduce the flow of misinformation, according to the Washington Post, which also said that the pace of suspensions has continued this month.
Altice US – The cable operator was upgraded to “buy” from “neutral” at Guggenheim Securities, which cited a number of initiatives that it feels will improve results as well as an attractive valuation.
Helen of Troy – The personal care and household products maker reported adjusted quarterly profit of $1.87 per share, beating the consensus estimate of $1.46 a share. Revenue also beat forecasts, helped by a 30 percent surge in online sales and a nearly 15 percent rise in sales of its “Leadership Brands” such as Braun, Vicks, and Honeywell.
Avon Products – Avon sold its last U.S.-based cosmetics factory to France’s Fareva Group. The Wall Street Journal reports Fareva will continue to produce products for Avon at the Morton Grove, Illinois plant as well as making private-label products for Walgreens Boots Alliance. Financial terms were not disclosed.
Groupon – Groupon is seeking a buyer, according to a Recode report which said that executives at the daily deals company have stepped up their efforts to lure possible suitors. Alibaba, which already owns about six percent of Groupon, is said to be a potential buyer.
Michael Kors – Michael Kors was rated “buy” in new coverage at HSBC, which set a price target of $88 per share compared to a Friday close of $66.97. HSBC said the current valuation for Kors is “too low to ignore.”
Boeing – The aircraft maker struck a deal to sell four Poseidon maritime patrol jets to the New Zealand government for $1.6 billion.
Walt Disney – Disney’s “Ant-Man And The Wasp” – the latest offering from its Marvel Studios – topped the weekend box office with $76 million in North American ticket sales.
Procter & Gamble – Procter & Gamble was downgraded to “hold” from “buy” at Jefferies. The firm said the consumer products giant is facing a number of challenges, including slowing market growth, US retail difficulties, emerging market volatility, and a stronger US dollar.
GameStop – Jefferies initiated coverage of the video game retailer with a “buy” rating, in anticipation of what it sees as a well-defined vision and execution plan under new leadership.
Capital One Financial – Oppenheimer upgraded the financial services to “outperform” from “perform,” citing an improvement in delinquencies and consensus earnings forecasts that Oppenheimer feels are too low.