Early movers: MS, PEP, HAS, ATHM, C, DIS, TM & more – CNBC

Posted: Monday, April 18, 2016

Check out which companies are making headlines before the bell:

Morgan Stanley — The investment bank earned 55 cents per share for the first quarter, 9 cents above estimates, with revenue essentially in line. Investment banking was a weak spot, but fixed income and investment management results were better than expected.

PepsiCo — The snack and beverage giant reported quarterly profit of 89 cents per share, 8 cents above estimates, with revenue in line. Pepsi’s profit margins expanded and it saw its best increase in organic beverage sales in nearly three years.

Hasbro — The toymaker beat estimates by 14 cents with quarterly profit of 38 cents per share, while revenue topped analyst forecasts by a wide margin as well. Hasbro’s results were powered by toys based on “Star Wars: The Force Awakens.”

Autohome — The China-based online car buying service received a non-binding “going private” proposal from a consortium led by Chief Executive Officer James Zhi Qin. The offer is worth nearly $3.6 billion or $31.50 per American depositary share.

Citigroup — Keefe Bruyette & Woods downgraded Citi to “market perform” from “outperform,” saying that its most recent quarterly beat was of “low quality” and that the stock is fairly valued.

Walt Disney — Pivotal Research upgraded the stock to “buy” from “hold,” saying many investor concerns are already priced into the stock. Separately, Disney’s “The Jungle Book” won the weekend box office by a wide margin, taking in $103.6 million in North American ticket sales and ranking as the second best ever April opening.

McGraw Hill Financial — The Standard & Poor’s parent reached an agreement to sell car rating business J.D. Power to China-based buyout firm XIO Group for $1.1 billion. The deal represents XIO’s first U.S.-based acquisition.

Aon — Aon raised its annual dividend by 10 percent to 33 cents per share, with the consulting firm’s payout coming on May 16 to shareholders of record as of May 2.

Alphabet — The company’s Google unit is once again the focus of European Union antitrust regulators. EU Competition Commissioner Margrethe Vestager said she would now be focusing the company’s deals with phone makers and operators involving its Android operating system.

Toyota — Toyota is among the Japanese manufacturers whose shares are under pressure today following the series of deadly earthquakes in southern Japan. The automaker is planning to suspend much of its production across the country due to components shortages.

Medivation — Medivation may receive a takeover bid from British drugmaker AstraZeneca, according to London’s Sunday Times. However, AstraZeneca has yet to make a formal bid for the San Francisco-based cancer treatment company.

General Motors, Ford — The automakers’ shares could jump 25 percent in the next year, according to an article in this weekend’s Barron’s. The paper said auto sales are likely to come in stronger than many investors think.

United Continental — United baggage handlers and gate agents approved new five-year labor deals which raise wages about 30 percent over the period as well as $100 million in lump sum payments.

Netflix — Netflix could be under pressure today on news that Amazon.com will offer a standalone streaming video service that costs a dollar less per month than the most popular Netflix plan.

Yahoo — Yahoo is seeing the number of potential suitors dwindle, according to reports, with Verizon the most prominent of those still said to be interested. Alphabet, Comcast, IAC/InterActive Corp., and Time Inc. are said to be among those that had been interested but decided not to pursue bids.


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