Check out the companies making headlines before the bell:
Harley-Davidson – The motorcycle maker said newly raised European Union tariffs would add $2,200 to the cost of each motorcycle exported to the EU from the U.S., but that it would not raise prices as a result. Harley plans to shift production of motorcycles intended for EU purchase out of the U.S. to its international facilities, but that this may take up to 18 months to complete.
Netflix – Chief communications officer Jonathan Friedland is resigning. The company did not give details on why Friedland was leaving, but he tweeted that he had spoken in an “insensitive” manner. Friedland had spent seven years with Netflix.
General Electric – GE is near a sale of its industrial engine unit to private equity firm Advent International, according to the Wall Street Journal. A sale worth $3 billion or more could be announced as soon as today, according to the paper, with Advent beating out Cummins for that business.
Microsoft – Microsoft was upgraded to “overweight” from “neutral” at Atlantic Equities, which said Microsoft has successfully managed its transition to being a cloud-based company and has expanded its potential market in doing so.
Amazon.com – Amazon has expanded its savings program for Prime members at its Whole Foods grocery stores, with the savings now available nationwide. The program was first launched in Florida last month.
Kroger – The supermarket operator’s stock was downgraded to “hold” from “buy” by Pivotal Research. The call was made on a valuation basis, with the stock up 17 percent over the past month.
Tapestry – The company formerly known as Coach is rated “buy” in new coverage at Goldman Sachs, saying it sees strong growth prospects for both the Coach and Kate Spade brands.
Estee Lauder – The stock was downgraded to “equal-weight” from “overweight” at Morgan Stanley. The firm had rated the cosmetics maker “overweight” since 2012 and is still a long-term bull, but is making this call on a valuation basis as well as some short term risk factors.
Education Realty Trust – Education Realty agreed to be bought by Greystar Student Housing Growth and Income Fund for about $4.6 billion including assumed debt. Shareholders in the owner of college student housing communities will receive $41.50 per share in cash, compared to Friday’s closing price of $40.83.
Campbell Soup – Campbell Soup is drawing possible takeover interest from Kraft Heinz, according to the New York Post. The paper said Kraft believes the soup maker’s management will soon initiate a sales process, and also reported that General Mills could be a potential buyer as well.
AT&T – AT&T expressed interest in buying CBS before striking its deal to buy Time Warner, according to the Wall Street Journal.
KKR – KKR is facing a backlash from pension funds that have invested billions in the private equity firm, according to the Financial Times. The funds are said to be upset with KKR’s treatment of workers at bankrupt toy retailer Toys R Us.
Medtronic – The medical device maker reported upbeat study results for its MiniMed 670G insulin pump system.
Intel – Intel was downgraded to “neutral” from “buy” at Nomura/Instinet, which cited the departure of CEO Brian Krzanich last week as well as uncertainty about the chipmaker’s longer term prospects.
