Take a look at some of the biggest movers in the premarket:
Honeywell (HON), Amgen (AMGN), Salesforce.com (CRM) – Honeywell, Amgen and Salesforce become members of the Dow Jones Industrial Average as of today, replacing Pfizer (PFE), Exxon Mobil (XOM) and Raytheon Technologies (RTX).
related investing news
Apple (AAPL) – Apple begins trading on a post-split basis today, following its 4-for-1 stock split. With the reduction in Apple's per-share price, UnitedHealth (UNH) now has the highest stock price among the 30 Dow stocks. Separately, the legal battle between Apple and Fortnite creator Epic Games escalated as Apple terminated Epic's account in its App Store.
Tesla (TSLA) – Tesla will also begin trading on a post-split basis today, following a 5-for-1 stock split.
AT&T (T) – AT&T is exploring options for its DirecTV unit, according to people familiar with the matter who spoke to The Wall Street Journal. Apollo Global Management (APO) is said to be among the interested bidders for the satellite TV operator. Reports of a potential deal for DirecTV are lifting the shares of satellite TV rival Dish Network (DISH).
Gilead Sciences (GILD) – The Food and Drug Administration expanded the emergency use authorization for Gilead's antiviral drug remdesivir, allowing use in all hospitalized patients with Covid-19. Previously, the treatment had been approved only for people with a severe form of Covid-19.
BlackRock (BLK) – BlackRock received approval from China regulators to set up a mutual fund unit in that country, becoming the first global asset manager to receive such approval.
Beyond Meat (BYND) – Citi upgraded the plant-based burger maker's stock to "neutral" from "sell," noting its underperformance since early July and its better-than-expected topline growth and saying the stock now offers a more balanced risk/reward profile.
Philips (PHG) – The Dutch medical equipment maker said the U.S. government has canceled the bulk of an order for 43,000 ventilators, and it has cut its 2020 earnings outlook as a result. A U.S. House panel had determined last month that the government had overpaid Philips by at least $500 million.
Aimmune Therapeutics (AIMT) – Switzerland's Nestle will pay $2 billion to acquire full ownership of the U.S.-based biopharmaceutical company, best known for its Palforzia treatment for peanut allergies. Nestle already had a 25.6% stake in Aimmune, and will pay $34.50 per share for the remainder compared to Aimmune's Friday closing price of $12.60.
General Electric (GE) – JPMorgan Chase analyst Stephen Tusa removed his price target on GE, citing the lack of forward visibility. The firm's rating on GE remains at "neutral," although the report said the fair value of the stock is likely less than $5 per share.
Yum China (YUMC) – The restaurant operator has begun taking orders for a secondary share listing in Hong Kong that could raise more than $2.5 billion, according to The Wall Street Journal.
United Airlines (UAL) – The airline said it would permanently eliminate ticket change fees, as it tries to woo customers back after the pandemic-induced travel demand slump. United's standard domestic ticket change fee had been $200.
Berkshire Hathaway (BRKB) – Berkshire acquired stakes of just over 5% in five large Japanese companies, including Mitsubishi, Mitsui and Sumitomo. Berkshire said it regarded the purchases as long-term investments and that it may boost its stakes to as high as 9.9%.