Market Insider

Early movers: VRX, TEVA, P, MET, JUNO, AMZN, TIF & more

Valeant Pharmaceuticals — The Sequoia Fund, which had been the drugmaker's largest shareholders, told clients it has completely exited its position in Valeant.

Williams Companies — The pipeline operator is rated "buy" in reinstated coverage at Goldman Sachs. Goldman said Williams has a strong fundamental positioning in natural gas and has good, visible growth prospects.

Teva Pharmaceutical — The drugmaker increased its second-quarter profit and revenue guidance. Teva now expects to earn an adjusted $1.19 to $1.22 per share, compared to its prior forecast of $1.16 to $1.20 a share. The current consensus estimate is $1.17 a share.

Pandora — The online radio service was upgraded to "overweight" from "neutral" at Piper Jaffray, which points to improving profit margins, an upcoming new on-demand platform, and better prospects for a positive outcome from music label negotiations.

MetLife — The insurance company's stock was downgraded to "hold" from "buy" at Deutsche Bank, which cites a lack of near-term catalysts and the potentially negative impact of lower 10-year Treasury yields.

Juno Therapeutics — Juno said the Food and Drug Administration has removed a clinical hold on a cancer drug trial that had been put in place last week following the death of three patients. Juno had said the deaths occurred after a chemotherapy agent was added to the trial — that agent has now been removed.

Fiat Chrysler — The automaker has unveiled a rewards program which will pay so-called ethical hackers up to $1,500 if they identify data security weaknesses in its vehicles.

Amazon.com — The automaker is on watch today as results from its second annual Prime Day are tallied. Preliminary indications are that U.S. sales were flat compared to a year ago, although they were stronger in certain international markets.

Tiffany — Tiffany and other luxury goods sellers could be under some pressure in U.S. trading following a drop in comparable-store sales reported by London luxury fashion house Burberry.

Nokia — Nokia announced an expansion of its intellectual property cross licensing agreement with Samsung. Nokia said it expects a positive impact for net sales as a result of the new agreement.

Time Inc. — Time could announce a restructuring as soon as today, according to the New York Post. As part of the change, the paper saidFortune editor Alan Murray would be named as the publisher's new chief content officer.

McDonald's — McDonald's is not getting strong bids for its franchise rights in China, according to a report in the Financial Times.

Adtran — Adtran reported quarterly profit of 25 cents per share, beating estimates by four cents a share. The maker of networking and communications equipment's revenue was slightly above forecasts, as well.

Peter Schacknow

Source:http://www.cnbc.com/2016/07/13/early-movers-vrx-teva-p-met-juno-amzn-tif-more.html