Stocks making the biggest moves premarket: TSLA, FB, AAPL, CS & more

Stock Market

Check out the companies making headlines before the bell:

Campbell Soup – Campbell is moving closer to divesting its international business, according to Reuters. Sources say Kraft Heinz and Mondelez International have been short-listed to participate in the second round of bidding.

Tesla – Tesla has cut prices for its Model 3 in China by up to 7.6 percent, with the starting price for the car now at about $72,000. Tesla has cut China prices three times in the past two months, most recently in November when it cut the cost of its Model X and Model S.

CVS – CVS will be allowed to continue integration of insurer Aetna. A federal judge reviewing the already completed deal said he would not halt the process, after CVS offered to allow Aetna to continue to make critical decisions independently during the review.

Netflix – Netflix will surpass Sky in U.K. subscribers by the end of the year, according to the Guardian newspaper. The paper quotes an industry consultant as saying Netflix will have 9.78 million subscribers as of December 31, while Sky’s subscriber rolls will fall to 9.45 million.

Apple — Chinese companies are urging employees to boycott Apple, according to Japan’s Nikkei newspaper. The paper said those companies are doing so in retaliation for the arrest of Huawei CFO Sabrina Meng.

Apollo Global – The private-equity firm is in discussions with China’s HNA to buy technology products distributor Ingram Micro, according to The Wall Street Journal. The paper said HNA is hoping to sell Ingram for $7.5 billion, an amount that would include $1.5 billion in assumed debt.

Snap – Snap CEO Evan Spiegel is the subject of a critical article in today’s Wall Street Journal, which quotes analysts as saying that Spiegel’s “imperious” style of management is no longer effective.

Credit Suisse – Credit Suisse is on track for a return on equity of 10 percent or more in 2019, according to chairman Urs Rohner. That follows cost cuts by the Swiss bank as well as the sale of a unit. Rohner was quoted in an interview in a Swiss newspaper. – Amazon is among a number of companies being pressed by the Securities and Exchange Commission for more details about its revenue, according to The Wall Street Journal. The SEC wants to know how much of Amazon’s revenue comes from its Amazon Prime program, according to letters between the SEC and Amazon seen by the Journal. The paper said Amazon and others like Ford Motor and truck maker Paccar have pushed back against the SEC requests.

Facebook – The stock was removed from the “Best Ideas” list at Wedbush, which points to “Investment Price Discipline” for the move. However, Wedbush still rates Facebook “outperform” with a $220 price target.

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