Market Insider

Stocks making the biggest move premarket: PCG, BA, BX, XEC, GE & more 

News Update – Pre-Markets

Check out the companies making headlines before the bell:

PG&E – PG&E reported a second power outage on the morning of November 8, the day the deadly Camp Fire started in Northern California. The news came in a report filed with the California Public Utilities Commission. The company said it is cooperating with any investigations, with officials currently probing whether the utility's equipment caused the fire.

Boeing – Boeing issued a statement saying it continually incorporates lessons learned from various incidents into its recommended procedures and airworthiness directives. The statement comes as investigators look into how Boeing responded to earlier warnings about malfunctioning flight control sensors like the one thought to be responsible in last month's crash of a Lion Air jet.

Blackstone – Technology company Colfax will buy DJO Global from private-equity funds managed by Blackstone for $3.15 billion in cash. DJO specializes in orthopedic devices, services, and software.

Cimarex Energy – The oil and gas company will buy Resolute Energy for $35 per share in cash and stock, or about $1.6 billion including assumed debt. That represents a roughly 15 percent premium over Resolute's Friday closing price.

General Electric – GE was warned by a consultant this past summer of corruption allegations against business partners in Iraq, according to a Wall Street Journal report.

Apple – Apple is cutting production for the newest iPhone models, according to sources quoted by The Wall Street Journal. The paper said the decision to offer more models has also made it difficult for suppliers to predict how many components they will need. – The China-based e-commerce giant reported a mixed quarter, beating analysts' estimates on the bottom line but seeing its revenue fall short. The company's shares have fallen by more than 40 percent this year on concerns of weakening growth.

Walgreens, CVS Health – Walgreens and CVS were sued by the state of Florida, which accuses the nation's two biggest drugstore chains of not taking precautions to stop illegal sales of opioids.

Kimberly-Clark – The consumer products giant has called off the sale of its European tissue business, according to the Financial Times, after offers came in below Kimberly-Clark's $1.2 billion target price.

Big Lots – Big Lots was upgraded to "overweight" from "neutral" at Piper Jaffray, which said the discount retailer should be helped by a strong tax refund season in early 2019.

Booking Holdings – The stock was upgraded to "outperform" from "market perform" at Wells Fargo, which cites a number of factors for the travel services company including valuation.

Spotify, Pandora – The music streaming services are increasingly turning to podcasts to boost profits, according to The Wall Street Journal.

TD Ameritrade – The online brokerage firm's shares were upgraded to "buy" from "neutral" at UBS, which thinks the shares are attractive due to marketplace misperceptions. UBS said risks related to a late bull market cycle are overstated.