Early Movers: IR, IN, AAPL & More
Check out which companies are making headlines before the bell on Monday:
Ingersoll-Rand - Ingersoll has announced the spin-off its security technology business, a story first reported by CNBC's Kayla Tausche. The unit is the smallest of Ingersoll-Rand's business segments. The company also announced a new $2 billion share buyback program and a 31 percent dividend increase.
McDonald's - The restaurant chain reported better-than-expected November sales, both globally and in each individual region. Global same-store sales were up 2.4 percent, compared to StreetAccount estimates of a 0.1 percent drop. U.S. sales were up 2.5 percent compared to estimates of a 0.4 percent drop. European sales rose 1.4 percent vs. estimates of a 0.1 percent rise. And APMEA sales were up 0.6 percent compared to estimates of a 0.4 percent drop.
Apple - Jefferies has cut its price target for Apple to $800 from $900, pointing to the likelihood of decelerating growth.
Expedia - Expedia is among the latest batch of companies to declare a special dividend in advance of year end. The travel website operator will pay a one-time dividend of $0.52 per share, in addition to the regular quarterly dividend of $0.13. Companies have been issuing dividends and accelerating 2013 dividend payments in droves in anticipation of higher tax rates in 2013 and beyond. (Read More: Cashing In on the Special Dividend Craze)
Washington Post - The media giant is accelerating all its 2013 dividends — totaling $9.80 per share — into December.
Seaboard - Seaboard will prepay four years worth of dividends before the end of this month, totaling $12 per share. The agribusiness company does not intend to declare any further dividends for the years 2013 to 2016.
ACE Ltd. - ACE is accelerating its 2013 first quarter dividend payout into December. ACE is a Zurich-based property casualty insurer.
American International Group - The insurance company is estimating that after-tax losses from super storm Sandy will total about $1.3 billion, net of reinsurance. AIG does say that this estimate could change materially as it gathers more information. Separately, AIG has confirmed the sale of 90 percent of its International Lease Finance unit to Chinese investors in a deal valuing ILFC at $5.28 billion.
Goodyear Tire - Goodyear will be transferring its listing to the Nasdaq as of Dec. 18. It will keep its "GT" ticker symbol.
CNOOC - CNOOC's $15.1 billion bid for Canada's Nexen approved by Canadian regulators. Control of Canada's energy producers by foreign companies has been the subject of intense debate within the country for several months.
Ariad Pharmaceuticals - The drugmaker has seen positive results from a 12-month clinical trial of an experimental leukemia drug. The trial eliminated bone marrow cancer in nearly half the patients, whose treatment with other drugs had been unsuccessful.
J.C. Penney - The retailer is the subject of a cautionary analyst report by JPMorgan Chase, which analyzes the weekend announcement of a 20 percent off Friends & Family sale. That follows a 20 percent to 30 percent off outerwear sale, which differs from CEO Ron Johnson's long-term "everyday low prices" vision. However, JPMorgan did not change its "neutral" rating on the stock.
Facebook - Facebook has turned off Instagram support for Twitter, meaning that Instagram photos will no longer be viewable inside of Twitter. Instagram was recently acquired by Facebook.
Priceline.com - Deutsche Bank has downgraded the stock to "hold" from "buy," while lowering the price target to $710 per share from $800. The firm sees a more challenging environment for Priceline, even though it said the shares are still attractively valued.
CME Group - Goldman Sachs has downgraded CME Group to "sell" from "neutral," citing what it said are weakening fundamentals.
Robert Half International - The stock has been upgraded to "buy" from "hold" by Deutsche Bank, citing the changes companies may make to deal with health-care reform. Robert Half is the world's largest staffing firm.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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