Check out the companies that are making the headlines before the bell:
Twilio (TWLO) The cloud communications platform provider announced an agreement to purchase the customer data platform segment for $ 3.2 billion in Twilio shares. The deal is expected to close in the fourth quarter. Twilio shares rose 7% in premarket trading.
Apple (AAPL) – A judge ruled that Apple can continue to ban the popular video game “Fortnite” from its app store for the time being. Apple and “Fortnite” developer Epic Games are in the middle of a legal battle. Apple said Epic violated the App Store’s terms by bypassing its payment systems. Apple shares rose 3% in premarket trading. Apple shares rose 3% in premarket trading.
AstraZeneca (AZN) The European drug company has signed a $ 486 million contract with the US government to develop and supply up to 100,000 doses of its Covid-19 antibody treatment. AstraZeneca’s treatment is similar to how President Donald Trump treated himself after contracting Covid-19. In premarket trading, shares rose 1%.
Levi Strauss (LEVI) – Morgan Stanley switched the jeans and apparel maker from “balanced” to “overweight”, recognizing management’s rapid response to a challenging retail environment and strong sales growth. The shares gained 4% in premarket trading.
Berkshire Hathaway (BRK.B) The Jain Foundation sold 7,000 Class B Berkshire shares on Sept. 30, according to an SEC filing. The sale reduces the foundation’s Berkshire holdings to 185,095 Class B shares. The foundation is headed by Berkshire Vice Chairman Ajit Jain.
PepsiCo (PEP) – Citi switched the beverage and snack maker from “neutral” to “buy” in anticipation of improved profit margins in North America and strong organic sales growth compared to its peers. In premarket trading, shares rose 2%.
Dillards (DDS) – Berkshire Hathaway’s portfolio manager Ted Weschler announced a 5.89% stake in the department store chain, according to an SEC filing. The shares are not an investment in Berkshire – they are held in a trust for the benefit of the Weschler family.
Alphabet (togetL) – Justice Department and Attorneys General are considering forcing Alphabet’s Google entity to sell their dominant Chrome browser, according to people aware of the discussions who spoke to Politico. These talks face an expected antitrust lawsuit against Google.
Regeneron Pharmaceuticals (REGN) – CEO Leonard Schleifer told CBS Face The Nation program that President Trump is “a case of one” and that the company’s antibody treatment for Covid-19 still needs further testing to determine its effectiveness. Schleifer’s comments came after President Trump called the treatment a “cure”.
General Motors (GM) The automaker saw sales jump 12% in China from July to September, the first quarterly sales increase GM has seen in China in two years.
Twitter (TWTR) – Twitter was raised to “buy” from “hold” at Deutsche Bank, indicating improved growth in the second half of the year and a “convincing bull case” for 2021. The Twitter share gained 4.6% in premarket trading.
DraftKings (DKNG) – The sports betting company was rated “Outperform” by Credit Suisse for its new reporting, which indicates, among other things, the company’s marketing relationships and an acceleration of the legalization of sports betting and online games in the US.