Early movers: CVS, MU, LOW, BABA, TWTR, RYL & more
Check out which companies are making headlines before the bell:
CVS Health—CVS will acquire and operate Target's more than 1,600 pharmacies in an approximately $1.9 billion deal. The pharmacies will continue to be operated in Target stores under the CVS brand.
Micron Technology—Morgan Stanley downgraded the chip maker's stock to "underweight" from "equal-weight," saying a seasonal surge in orders looks like it will take place later than usual and weaker than originally expected.
Lowe's—Wedbush upgraded the home improvement retailer's stock to "outperform" from "neutral," saying Lowe's should be a winner if interest rates remain low and that its currently discounted valuation provides the opportunity for greater upside versus Home Depot.
Alibaba—The China e-commerce company announced it would start a subscription video service in that country in two months.
Twitter—Prince Alwaleed bin Talal, a major investor in Twitter, issued a statement to CNBC saying he would support chairman Jack Dorsey—soon to become interim CEO—if he wanted to take the job on a permanent basis. Earlier, the Financial Times had reported the prince was against the idea of Dorsey being the permanent CEO.
Ryland, Standard Pacific—The two will merge to form the fourth largest homebuilder in the United States. Standard Pacific will put a 1-for-5 reverse stock split into effect, and then give Ryland shareholders a little more than one Standard Pacific share for each Ryland share they now hold.
United Technologies—United Technologies will either spin off or sell its Sikorsky Aircraft division, and plans to make that decision by the end of the third quarter.
St. Jude Medical—St. Jude received FDA approval for a new brain implant that helps reduce symptoms of Parkinson's disease.
Boeing—Boeing said it is in talks with potential buyers for its five remaining C-17 cargo planes. Boeing expects to sign deals before the fourth quarter.
Comcast—The company's Universal Pictures unit saw its "Jurassic World" take in $204.6 million in North American ticket sales over the weekend, the second biggest opening on record behind 2012's "Marvel's The Avengers."
Bluebird Bio—Bluebird said its experimental gene therapy for sickle-cell anemia got encouraging results in a one-patient study involving a French teenager.
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