Stocks making the biggest moves premarket: GE, TSN, QCOM, AVGO, UPS, FDX & more
Check out which companies are making headlines before the bell:
General Electric — GE announced a 50 percent cut in its quarterly dividend to 12 cents per share. The announcement came ahead of GE's Investor Day, at which CEO John Flannery will lay out his long-term vision for the company. The Wall Street Journal reports that GE plans to focus on three of its biggest businesses — aviation, power, and health care. Flannery will be a guest on CNBC's "Squawk on the Street" Tuesday at 9:30 a.m. ET.
Tyson Foods – The beef and poultry producer reported adjusted quarterly profit of $1.43 per share, beating estimates by 5 cents a share. Revenue also beat forecasts. Tyson said performance in its beef and pork segments was particularly strong.
Qualcomm – Qualcomm is preparing to reject rival chipmaker Broadcom's $103 billion takeover offer as early as this week, according to Reuters quoting four people familiar with the matter.
United Parcel Service, FedEx – Goldman initiated coverage on both delivery companies with "buy" ratings and added UPS to its "conviction buy" list. Goldman thinks concerns over Amazon.com's foray into logistics and delivery are overplayed.
Sony – Sony shares could rise by 20 percent in the coming year, according to an article in Barron's. The paper said such a rise could be driven by stronger sales of smartphone camera chips and video game systems and software.
Boeing — Boeing got a $15 billion order from Emirates for 40 787-10 Dreamliner jets. The news was unveiled at the Dubai Airshow, which got underway this past weekend.
JD.com – JD.com said Singles Day-related sales have totaled more than $19.1 billion, up 50 percent from a year ago. Those numbers for the China-based e-commerce company include 11 days of sales running through Singles Day.
Mattel – Mattel recently received a takeover offer from rival toymaker Hasbro, according to The Wall Street Journal. The details of the offer couldn't be learned and no deal may result from the approach.
GGP – GGP received a $23 per share offer from Brookfield Property Partners to buy the shares of the mall owner that it doesn't already own, according to The Wall Street Journal. The offer is worth $14.8 billion, half in stock and half in cash.
Wal-Mart – Wal-Mart is raising online prices for products also available in its stores, according to the Journal, which said that the retail giant is trying to boost profits and drive more traffic to its stores.
Equifax – Equifax was downgraded to "hold" from "buy" at Stifel Nicolaus, with the firm saying it expected the credit reporting agency to take time to recover from the effects of its cybersecurity breach.
Teva Pharmaceutical – The drugmaker's stock was downgraded to "underweight" from "neutral" at JPMorgan, which cites several factors including the stock's relative valuation to its peers in what's already a challenged generic drug industry.
Nvidia – The graphics chipmaker's shares were upgraded to "market perform" from "underperform" at BMO Capital, which also increased its price target to $200 per share from $135. The firm said Nvidia's data center business is far stronger than it had anticipated.