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

Lennar (LEN) — The homebuilder reported quarterly profit of $1.34 per share, 5 cents a share above estimates. Revenue also beat forecasts. Lennar sold more homes at higher prices compared to a year earlier.

Mosaic (MOS) — The fertilizer producer struck a deal to buy the fertilizer business of Brazilian mining firm Vale for about $2.5 billion in cash and stock.

Walt Disney (DIS) — The stock was added to the US1 list at Bank of America/Merrill Lynch, saying the stock is positioned for outperformance. The firm sees upbeat prospects for Disney’s parks and resorts, as well as its movie studios. It also sees the potential for significant capital returns to shareholders.

Reynolds American (RAI) — Reports say rival tobacco producer British American Tobacco will increase the cash portion of its $47 billion cash-and-stock takeover deal to buy Reynolds.

Danone (BN) — Danone issued a revised 2016 sales growth forecast that is slightly below its original outlook. The French food company attributes the downward revision to weakness at its European dairy business.

Carnival (CCL) — German investment firm Berenberg cut its rating on the cruise line operator to “hold” from “buy.” The firm said it is still optimistic about the 2017 cruise industry outlook but notes the potential negative effects of higher fuel costs, rising interest rates, and a stronger dollar.

Amazon.com (AMZN) — Amazon is considering the development of mobile technology for booking truck freight, according to The Wall Street Journal.

Apple (AAPL) — Apple plans to file an appeal this week, challenging the European Union’s $14 billion tax assessment. The EU claimed that Apple’s tax deal with the Irish government amounted to illegal state aid. Ireland is also planning to challenge the ruling.

Bristol-Myers Squibb (BMY) was upgraded to ‘Buy’ from ‘Hold’ at Jeffries with a price target of $69.

ETrade (ETFC) was upgraded to ‘Buy’ from ‘Hold’ at SunTrust Robinson Humphrey with a price target of $40.

Costco (COST) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup.

Carnival Cruise Lines (CCL) dropped over 4% in pre-market trading after it was downgraded to ‘Hold’ from ‘Buy’ at Berenberg.

Ambac Financial Group (AMBC) was downgraded to ‘Sell’ from ‘Neutral’ at MKM Partners.

BorgWarner (BWA) was downgraded to ‘Market Perform’ form ‘Outperform’ at Wells Fargo Securities.

United Technologies (UTX) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a 12-month target price of $125.

Lowe’s (LOW) was downgraded to ‘Neutral’ from ‘Buy’ at Citigroup.

Gulfport Energy (GPOR) was upgraded to ‘Buy’ from ‘Neutral’ at Guggenheim Securities with a 12-month target price of $30.

Rsp Permian (RSPP) was upgraded to ‘Buy’ from ‘Neutral’ at Guggenheim Securities with a 12-month target price of $55.

Continental Resources (CLR) was rated new ‘Market Perform’ at FBR Capital Markets with a 12-month target price of $56.

Source: Foxbusiness, BarChart, CNBC, Bloomberg, Reuters