Early movers: AMZN, ALL, YUM, JNJ, T, THO, CC, MFRM, BHP & more
Check out which companies are making headlines before the bell:
Amazon.com — The online retail giant said it had a record sales weekend for Amazon-made devices such as its Fire tablets, Fire TVs, and its Amazon Echo digital assistant.
Allstate, Progressive — Citi upgraded Allstate to "neutral" from "sell," while downgraded rival insurer Progressive to "neutral" from "buy." It bases its Allstate upgrade on bigger rate increases, but still likes Progressive long-term based on its ability to thrive in disrupted markets.
Yum Brands — Cowen upgraded the restaurant operator to "outperform" from "market perform," saying the coming spin-off of the China business will move focus toward optimism surrounding Taco Bell's performance.
Johnson & Johnson — Barclays began coverage on J&J with an "overweight" rating, noting the company's recent underperformance but adding that the company has the balance sheet to make significant acquisitions.
AT&T — The company will raise the price of its grandfathered unlimited data plans by $5 month in February.
Thor Industries — Thor earned an adjusted 97 per share for its latest quarter, beating estimates by 14 cents, with the recreational vehicle maker also beating forecasts on the top line. The company's results were helped by better sales and larger profit margins.
Chemours — Chemours is cutting about 400 jobs or 5 percent of its workforce. The DuPont spin-off, which makes performance chemicals, is shutting down its reactive metals business as part of cost cutting measures.
Mattress Firm — The mattress retailer is buying rival Sleepy's for $780 million. The combined company would have a presence in all US states except Wyoming and Alaska, with a 21.2 percent share of the specialty-mattress market.
BHP Billiton, Vale — The companies were officially sued by the Brazilian government for $5.2 billion, after a dam collapse at a mine owned by the two that Brazil said is the country's worst-ever environmental disaster. The government had previously indicated a lawsuit would be forthcoming.
Dow Chemical — Dow sold part of its global herbicide business to privately held Gowan Co. for an undisclosed amount.
American Airlines Group — The airline reached a labor deal with the union representation its reservations and gate agents which gives them an immediate 30 percent average wage hike.
Anheuser-Busch InBev — The beer brewer's $106 billion deal to buy rival SABMiller will be the subject of a Senate hearing on December 8.
Deere — Deere will lay off about 220 workers in February, as it tries to cut costs amid a slump in crop prices. That decline has been negatively impacting sales of Deere's farm equipment.
Wynn Resorts — Wynn and other hotel/casino operators will be on our watch list today, after Macau gaming figures showed a 32 percent drop in November compared to a year ago.
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