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Early movers: AAPL, RRC, JCP, BAC, TPUB, GOOGL, TEX, ANAC & more

Peter Schacknow
Updated
Brendan McDermid | Reuters. If the new administration's policies play out, U.S. stocks could soar above global stocks, economist Jurrien Timmer says.

Check out which companies are making headlines before the bell:

Apple (NASDAQ: AAPL) — In its latest 13F filing, Berkshire Hathaway revealed a new 9.8 million share stake in Apple, as well as an increased stake in IBM (NYSE: IBM). It also reduced its stake in Wal-Mart Stores (NYSE: WMT) and eliminated its stake in AT&T (NYSE: T).

Anacor Pharmaceuticals (NASDAQ: ANAC) — The drugmaker will be bought by Dow component Pfizer (NYSE: PFE) for $5.2 billion in cash, or $99.25 per share. That's well above Anacor's Friday close of $64.03.

Tribune Publishing (NYSE: TPUB) — Gannett (NYSE: GCI) has increased its bid for Tribune to $15 a share in cash from the prior $12.25 per share, after reviewing Tribune's latest quarterly filing.

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Range Resources (NYSE: RRC) — The oil and natural gas producer will buy Memorial Resource Development (NASDAQ: MRD) in an all-stock deal valued at $4.4 billion. Memorial shareholders will get 0.375 Range Resources shares for each share they now hold, giving them a value of $15.75 per share. That's 17 percent above Friday's closing price.

J.C. Penney (NYSE: JCP) — Baird upgraded the retailer's stock to "outperform" from "neutral," saying a 30 percent pullback from its March highs presents an attractive risk/reward profile. Baird said there is a "credible turnaround story" unfolding at J.C. Penney.

Bank of America (NYSE: BAC) — The bank's shares were downgraded to "market perform" from "outperform" at Keefe Bruyette & Woods, which called BofA a "quality" banking franchise but said it needs to do more to improve returns and drive shareholder value.

Alphabet (NASDAQ: GOOGL) — Alphabet's Google unit reportedly faces a record $3.4 billion European fine. That's according to the Sunday Telegraph newspaper, which said the fine will be assessed in the next several weeks and relates to alleged promotion of Google's shopping service in internet searches at the expense of rivals.

Terex (NYSE: TEX) — Terex will sell its Material Handling and Port Solutions unit to Finland's Konecranes for $1.27 billion, in a deal that cancels the all-stock merger agreement that the two crane makers struck last August. Terex becomes a 25-percent shareholder in Konecranes and retains its ability to talk to rival suitors.

Williams Cos. (NYSE: WMB) — Williams filed a lawsuit against Energy Transfer Equity (NYSE: ETE) in an attempt to save a prior merger agreement between the two. The two pipeline companies struck a $33 billion merger deal last September, but Energy Transfer wants to terminate the agreement over doubts about certain tax issues.

Amazon.com (NASDAQ: AMZN) — Amazon plans to roll out private label food brands over the next several weeks, according to The Wall Street Journal.

Facebook (NASDAQ: FB) — Facebook CEO Mark Zuckerberg will meet with conservative leaders this week to address allegations of political bias in Facebook newsfeed stories.

Walt Disney (NYSE: DIS) — Disney's "Captain America: Civil War" remained atop the weekend box office by taking in $72.6 million in North American ticket sales in its second weekend of release. That ranks as the eighth largest second weekend of all time.

Yahoo (NASDAQ: YHOO) — Quicken Loans founder Dan Gilbert is involved in a consortium bidding for Yahoo's core internet assets, and Berkshire Hathaway (NYSE: BRK.A)'s Warren Buffett tells CNBC he's willing to back Gilbert's group with financing under the right terms.

Apple (NASDAQ: AAPL) — Apple Chief Executive Officer Tim Cook is in China today, visiting with high level government officials in a critical market for the company.

Johnson Controls (NYSE: JCI) — The company's auto parts business Adient — which it will spin off in October — will be headquartered in London. That's the result of a planned merger between Johnson Controls and Tyco International (NYSE: TYC), which resulted in a restructuring of the planned spinoff.

Caesars Entertainment (NASDAQ: CZR) — An affiliate of the bankrupt casino operator is considering a sale of its mobile game business, according to The Wall Street Journal, in a sale that could bring in more than $4 billion.

Microsoft (NASDAQ: MSFT) — Microsoft is considering a sale of its Nokia mobile phone brand to Foxconn, according to tech website VTech, as it overhauls its mobile business.

Questions? Comments? Email us at marketinsider@cnbc.com



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