Boeing, Facebook, Nike, Lyft, Kohl’s, GM & more

Check out the companies making headlines before the bell:Boeing – Chief Executive Officer Dennis Muilenburg was stripped of his chairman’s title, in a move the company said was designed to allow Muilenburg to focus on returning the grounded 737 Max jet to service.Facebook – Facebook’s planned libra cryptocurrency is seeing more defections, with Visa and MasterCard pullout out of their planned participation. PayPal, eBay, and Stripe previously announced they would no longer participate in Libra.Nike – The stock was upgraded to “neutral” from “underperform” at Bank of America/Merrill Lynch, The firm said new sportswear apparel and growth of sub-$100 footwear is helping offset challenges of the past few years including a more competitive marketplace.ConocoPhillips – ConocoPhillips announced the sale of its northern Australian business for $1.4 billion to Australian business partner Santos.Lyft, Uber – The ride-hailing services are suing New York City over a new rule that limits the time its drivers are allowed to cruise in Manhattan without passengers.General Motors – GM and the United Auto Workers Union are still trying to reach an agreement on a new contract as a strike enters its fifth week. The union said it will boost strike pay for 48,000 hourly workers by $25 per week to $275 as the walkout continues.PG&E – PG&E rejected an offer by the city of San Francisco to buy its power lines and other infrastructure within the city for $2.5 billion. The bankrupt utility said the offer undervalues its assets.Kohl’s – Kohl’s named Executive Vice President Jill Tim as its new chief financial officer. She will succeed Bruce Besanko, who will step down from that role at the retailer on Nov. 1.Blackstone – Blackstone has held talks about buying a stake in Ken Griffin’s Citadel, according to The Wall Street Journal. The private-equity firm is said to have considered investing in both Citadel’s hedge fund operations as well as in its securities trading unit.AECOM – AECOM announced a deal to sell its management services unit to a consortium of private-equity firms for $2.4 billion. The engineering and design firm had announced plans to spin off the unit in June.Toll Brothers – The home builder’s stock was downgraded to “neutral” from “positive” at Susquehanna Financial in a valuation call, following outperformance since the beginning of the year. With that gain, Susquehanna said Toll Brothers shares are now at their historical average forward price-to-earnings ratio.Planet Fitness – Imperial Capital upgraded the fitness center operator to “outperform” from “in-line,” calling Planet Fitness a “best in class” fitness operator and a premium consumer growth stock.

Show More

Related Articles