Check out the companies making headlines before the bell:
DowDupont – CEO Edward Breen will become executive chairman of the specialty products company resulting from DowDupont’s planned split into three companies next year. That unit will take the DuPont name. It had been previously announced that current DowDupont executive Jim Fitterling will become CEO of Dow Chemical, the name DowDupont will take when the other two companies – to be known as DuPont and Corteva Agriscience – are separated.
American Express – The financial services giant was upgraded to “overweight” from “equal-weight” at Stephens, saying Amex is successfully increasing merchant engagement and driving payment volumes higher.
Bed Bath & Beyond – The household goods retailer’s stock was upgraded to “market perform” from “underperform” at Raymond James, saying that sales results should reflect an improved consumer environment.
Lululemon – The athletic apparel maker’s stock was upgraded to “outperform” from “market perform” at Wells Fargo, which said the company’s momentum is likely sustainable well into 2019.
Tesla – Tesla CEO Elon Musk said the automaker was in “delivery logistics hell,” but added that the company was making rapid progress and that the issue should be “solved shortly.”
Meredith Corp. – Meredith sold its Time media brand to Marc and Lynne Benioff for $190 million. The Benioffs are purchasing Time personally and the deal is unrelated to Salesforce.com, where Marc Benioff is chairman and co-chief executive.
Campbell Soup – Campbell and activist hedge fund Third Point filed separate preliminary proxy materials urging shareholders to vote for two completely different board nominee slates. Third Point has criticized the food maker’s current board and management for failing to implement moves to improve the company’s performance.
Teva Pharmaceutical – Teva’s migraine drug Ajovy was approved by the Food and Drug Administration. Teva said the drug should be available in about two weeks.
Unilever – Unilever’s ninth largest shareholder, Aviva Investors, will vote against the consumer goods giant’s plan to move its headquarters to the Netherlands, according to the Financial Times.
Tronc – Tronc is in early stage talks to be acquired by rival newspaper publisher McClatchy, according to sources quoted by the Chicago Tribune. Tronc owns the Tribune, and other major newspapers. New York investment firm Donerail Group has been in talks to buy Tronc since early August, with sources saying that Donerail has offered between $19 and $20 per share.
Amazon.com – Amazon is investigating suspected data leaks and bribes of its employees, according to The Wall Street Journal. Such moves can give an edge to independent merchants who sell their products on Amazon. Separately, a Citi analyst report suggests that Amazon could announce in the coming years that it will split its retail and Amazon Web Services businesses.
Fiat Chrysler – The automaker is looking at other potential buyers for its Magneti Marelli parts unit, according to a Bloomberg report, after viewing a bid by KKR as too low.
CORRECTION: This story has been updated to show that Tronc owns the Tribune and other major newspapers, but not the Los Angeles Times.
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