Monday Pre-Market Look: Stocks In The News Before The Open

McDonald’s (MCD) — Nomura upgraded the restaurant chain’s stock to “buy” from “neutral,” saying the issue of tough U.S. comparable sales will subside and that it is enthusiastic about the company’s planned menu updates.

Apple (AAPL) — London’s Sunday Times reports that Apple is in a customs dispute with Britain, which is said to have labeled the wristband of the Apple Watch as “other plastic,” making it subject to a 6.5 percent tariff. Separately, Bloomberg is reporting that Yoky Matsuoka has left the company – she joined Apple in May to serve as a health technology executive after serving as vice president of technology at Nest.

Energy Transfer Partners, Sunoco Logistics — The two companies issued a statement criticizing the government’s decision not to issue an easement for their Dakota Access Pipeline. The companies called it a “purely political action” and that the project has “done nothing but play by the rules.”

Royal Bank of Scotland — The bank settled most of its legal claims with shareholders involving a $15.2 billion rights issue in 2008. Those shareholders alleged they were misled when they took part in that issue.

Walt Disney (DIS) — Disney’s “Moana” topped the weekend box office for the second straight weekend, taking in $28.4 million in North American ticket sales, continuing a strong year for Disney movies ahead of the release of the next “Star Wars” Film in mid-December.

Johnson & Johnson (JNJ) — J&J increased its bid for Switzerland-based biotech firm Actelion to more than $250 per share, according to a Bloomberg report, after Actelion rejected an initial proposal of about $246 per share.

Alphabet, Apple, Citigroup, Delta Air Lines, Deutsche Telekom, Merck, Novartis, Toll Brothers, Unilever, Walt Disney — Barron’s has named these companies as its 10 favorite stocks for 2017, saying they have largely lagged the market this year and have reasonable valuations.

Air Products & Chemicals (APD) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup.

Citrix (CTXS) was upgraded to ‘Buy’ from ‘Neutral’ at Mizuho Securities USA with a price target of $100.

Marvell Technology Group Ltd (MRVL) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs.

Hilton (HLT) was upgraded to ‘Buy’ from ‘Sell’ at MKM Partners with a 12-month target price of $28.

McDonald’s (MCD) was upgraded to ‘Buy’ from ‘Neutral’ at Nomura with a12-month target price of $139.

Nike (NKE) was upgraded to ‘Buy’ from ‘Hold’ at HSBC with a price target of $60.

Quantenna Communications (QTNA) was upgraded to ‘Strong Buy’ from ‘Buy’ at Needham & Co with a 12-month target price of $25.

Globus Medical (GMED) rose nearly 3% in after-hours trading after it was named to replace Talen Energy in the S&P MidCap 400 effective after the close of trading Tuesday, December 6.

HomeStreet (HMST) climbed over 3% in after-hours trading after it was named to replace UMB Financial in the S&P SmallCap 400 effective after the close of trading Tuesday, December 6.

B&G Foods (BGS) gained over 1% in after-hours trading after it acquired Victoria Fine Foods for $70 million in cash.

Zendesk (ZEN) slid over 5% in after-hours trading after the company said two of its SVPs were leaving the company, Marcus Bragg effective December 7, and Amanda Kleha effective December 30.

Source: Barchart, CNBC, FoxBusiness, Reuters, Bloomberg