Check out which companies are making headlines before the bell:
Iqiyi, Baidu, Alibaba, JD.com – U.S.-listed China tech stocks are under pressure, following news that the U.S. is preparing additional tariffs against $200 billion in Chinese goods.
21st Century Fox – Fox raised its offer price to buy the part of British broadcaster Sky that it did not already own, and has agreed to a new deal that values Sky at $32.5 billion. That tops an offer from NBCUniversal and CNBC parent Comcast, which is still mulling whether to raise its offer for assets that Fox had planned to sell to Walt Disney.
Netflix – The video streaming service was rated “outperform” in new coverage at Credit Suisse, which thinks Netflix will enjoy “unchallenged leadership” and “disproportionate scale” in the global market.
Pfizer – The drugmaker said it would roll back price increases that had gone into effect July 1 for a maximum of six months, following a conversation between CEO Ian Read and President Donald Trump. The President had criticized Pfizer and other drug makers for raising prices. Separately, the company announced it would reorganize into three business units effective at the beginning of the 2019 fiscal year.
Alphabet – The company’s Google unit faces a European Union antitrust fine as soon as next week, according to The Wall Street Journal. The current case involves Google’s Android operating system for mobile phones. The paper said the fine could be higher than the $2.82 billion fine assessed against Google last year for abusing the dominance of its search engine.
Tesla – The automaker will no longer require reservations for potential buyers of its Model 3 car, and is now taking orders throughout the U.S. and Canada. Previously, buyers had to put down a $1,000 deposit to be on the waiting list for a Model 3.
Spotify – The streaming music service company’s stock was rated “buy” in new coverage at Nomura/Instinet, which said Spotify’s ad business is underappreciated.
TripAdvisor – Barclays upgraded the travel website operator’s stock to “overweight” from “equal weight,” saying fundamentals have turned around and that Tripadvisor is now in position to take advantage of its competitive position and grow revenues.
Analog Devices – Analog Devices is teaming up with China’s Baidu to advance autonomous driving technology. The chipmaker and Baidu will share resources and technology as part of the effort.
Apple – Apple may have violated Japan’s antitrust rules, according to Japanese regulators. Japan’s Fair Trade Commission said Apple’s Japan unit had forced mobile service providers to sell iPhones at low prices and charge higher monthly fees.
Deutsche Bank – Deutsche Bank hired private-equity firm Cerberus Capital as a paid adviser to help boost the bank’s profits. Cerberus is also a major shareholder in Deutsche Bank.
WD-40 – WD-40 posted quarterly profit of $1.15 per share, 10 cents a share above estimates. The lubricant maker also saw revenue top Street forecasts, however WD-40 slightly reduced its sales and profit forecasts for the full year.
Fastenal – The maker of industrial and construction products earned 74 cents per share for its latest quarter, 8 cents a share above estimates. Revenue also beat forecasts and the company raised its quarterly dividend to 40 cents per share from the prior 37 cents a share.