Early movers: MDVN, PFE, CST, ISIL, SYT, FB, VIAB, VLKAY, JPM, MAT & more
Check out which companies are making headlines before the bell:
Medivation — Pfizer announced a $14 billion deal to acquire the biotech firm in an all-cash transaction. The deal is worth $81.50 per share and Pfizer expects it to add 5 cents per share to earnings in the first year.
CST Brands — The gas station and convenience store operator is being bought by Canada's Couche-Tard in a $4.4 billion deal worth $48.53 per share.
Intersil — Intersil is close to being bought by Japan's Renesas Electronics in a $3 billion deal, according to Reuters. A deal for the U.S. based chipmaker could be reached as early as this month.
Syngenta — Syngenta's deal to be bought by ChemChina for $43 billion has been cleared by a U.S. national security panel. The pesticides maker said it still expects the deal to be finalized by the end of 2016.
Facebook — Facebook shares could rise by more than 20 percent over the next year, according to Barron's. The paper said the boost would come on the strength of growing advertising revenue across Facebook's various platforms.
Viacom — Chief Executive Officer Philippe Dauman has resigned, with Chief Operating Officer Thomas Dooley taking over as interim CEO. Dauman will remain as non-executive chairman through September 13.
Volkswagen — Volkswagen will resume contract talks with suppliers today, trying to resolve a dispute that has halted auto production at some of its plants.
JPMorgan Chase — The bank will receive $645 million from the estate of Washington Mutual, after settling a dispute with the FDIC arising from its purchase of WaMu during the 2008 financial crisis. JPMorgan will drop more than $1 billion in claims as a result of the settlement.
Valeant Pharmaceuticals — Valeant announced the hiring of Paul Herendeen as chief financial officer, luring him away from animal health company Zoetis.
Mattel — Mattel got a favorable mention in this weekend's Barron's, which said the toymaker could return an additional 20 percent to investors, including dividends, as its recent overhaul continues to provide a boost to operations.
Rovi — The entertainment-focused data analytics company signed a 10-year patent licensing renewal deal with Dish Network.
Discover Financial Services — The credit card issuer announced plans to repurchase an additional $100 million of its common shares between now and June 30, 2017.
L Brands — Goldman Sachs upgraded the Victoria's Secret parent to "buy" from "neutral," saying a slump in productivity and profit margins has likely bottomed.
Marathon Oil — Chief Financial Officer J.R. Sult is leaving the company for personal reasons, which the energy producer said is unrelated to any disagreement with the company over business matters. Vice President Pat Wagner has been appointed interim CFO while the search for a permanent replacement is conducted.
Office Depot — The office supplies retailer announced that CEO Roland Smith plans to retire, but will stay on until a successor is found. The company expects that to occur by the end of the first quarter of 2017 and that Smith will remain as chairman.
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