- Feds not ready to take sentencing position in Flynn case
- Flash flooding hits New Orleans as Mississippi River forecast to rise to dangerous levels
- Storm could become first hurricane of season and is already shutting down energy operations
- 'World should know what is happening' to children in ICE detention: Mother testifies
- DC security fund dangerously depleted after Trump's July 4th event: Mayor Bowser
Check out the companies making headlines before the bell:
Lululemon – The athletic apparel maker raised its full-year earnings and revenue guidance amid increased sales momentum. Lululemon now expects to earn $1.72 to $1.74 per share for its fourth quarter, compared to its prior estimate of $1.64 to 41.67 a share and a consensus Wall Street projection of $1.69 a share.
Apple – Apple could be under pressure once again after one of its chip suppliers, Germany’s Dialog Semiconductor, reported fourth-quarter sales at the low end of its target range. Dialog’s power management chips for Apple devices represents about three quarters of its business.
PG&E — Chief Executive Officer Geisha Williams stepped down over the weekend, as the utility deals with the financial impact of possible links to the recent California wildfires. PG&E also said it would file for voluntary bankruptcy reorganization later this month.
Delta Air Lines – Bank of America/Merrill Lynch downgraded the airline’s stock to “neutral” from “buy,” saying Delta lacks the earnings catalysts it sees in other airline stocks. However, Bank of America added that its view of Delta as an industry leader with best-in-class fundamentals has not changed.
Western Digital – Evercore downgraded the disk drive maker’s stock to “underperform” from “in line,” saying the market is underappreciating the impact of lower memory chip prices and structural competitive issues on Western Digital.
Anheuser-Busch InBev – AB InBev is considering a partial initial public offering of its Asian operations, according to Reuters, a move that would raise billions of dollars for the beer brewing giant that could be used to pay down debt.
General Electric – GE’s Medical Systems Information Technology unit won a $450 million Pentagon contract for patient monitoring systems.
Viacom – The media company is in talks to sell a majority stake of some of its China operations, according to sources quoted by The Wall Street Journal.
Sherwin-Williams – Sherwin-Williams was upgraded to “outperform” from “market perform” at Wells Fargo, which believes that investors are underestimating the paint producer’s potential upside.
Gannett – Gannett is the target of a $12 per share cash takeover bid by MNG Enterprises. MNG is one of the largest newspaper chains in the U.S. and has built a 7.5 percent stake in the USA Today publisher.
IBM – IBM will buy Deutsche Telekom’s T-Systems mainframe service business for just under $1 billion, according to Germany’s Handelsblatt newspaper.