Check out the companies making headlines before the bell:
Twilio (TWLO) – The cloud communications platform provider announced a deal to buy customer data platform provider Segment for $3.2 billion in Twilio shares. The deal is expected to close during the fourth quarter.
Apple (AAPL) – A judge ruled that Apple can continue to bar the popular videogame “Fortnite” from its app store for now. Apple and “Fortnite” developer Epic Games are in the midst of a legal dispute, with Apple saying Epic violated the app store’s terms by bypassing its payment systems.
AstraZeneca (AZN) – The European drug maker has struck a $486 million deal with the U.S. government to develop and supply up to 100,000 doses of its Covid-19 antibody treatment. AstraZeneca’s treatment is similar to the one used to treat President Donald Trump after he became infected with Covid-19.
Levi Strauss (LEVI) – The jeans and apparel maker was upgraded to “overweight” from “equal-weight” at Morgan Stanley, which makes note of management’s quick response to a difficult retail environment as well as strong revenue growth.
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 run by Berkshire Vice Chairman Ajit Jain.
PepsiCo (PEP) – Citi upgraded the beverage and snack maker to “buy” from “neutral”, in anticipation of improving profit margins in North America as well as strong organic sales growth relative to its peers.
Dillard’s (DDS) – Berkshire Hathaway portfolio manager Ted Weschler disclosed a 5.89% stake in the department store chain, according to an SEC filing. The shares are not a Berkshire investment – they are held in a trust for the benefit of Weschler’s family members.
Alphabet (GOOGL) – The Justice Department and state attorneys general are mulling the idea of forcing Alphabet’s Google unit to sell its dominant Chrome browser, according to people with knowledge of the discussions who spoke to Politico. Those talks come ahead of an anticipated antitrust lawsuit against Google.
Regeneron Pharmaceuticals (REGN) – CEO Leonard Schleifer told the CBS program “Face The Nation” that President Trump represents “a case of one”, and that the company’s antibody treatment for Covid-19 still needs more testing to determine its efficacy. Schleifer’s comments came after President Trump labeled the treatment “a cure”.
General Motors (GM) – The automaker reported a 12% increase in China sales during the July through September quarter, the first quarterly sales increase reported by GM in China in 2 years.
Twitter (TWTR) – Twitter was upgraded to “buy” from “hold” at Deutsche Bank, pointing to improving growth during the second half of this year and a “compelling bull case” for 2021.
DraftKings (DKNG) – The sports betting company was rated “outperform” in new coverage at Credit Suisse, which points to the company’s marketing relationships and an acceleration in the legalization of sports betting and online gaming in the U.S., among other factors.
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