Good morning traders! Here are your pre-market news movers on this Monday morning-
Virgin America — The airline announced a deal to be bought by Alaska Air for $57 per share in cash. Alaska Air beat out JetBlue, which was also interested in buying Virgin America. The carriers hope to close the deal by January 1, 2017.
TICKER: VA
Tesla — Orders for the automaker's upcoming Model 3 continuing to surge. At last count, reservations had topped 276,000 for the $35,000 car that is due out late in 2017.
TICKER: TSLA
General Electric — Bernstein downgraded GE to "market perform" from "outperform" on a valuation basis, after GE shares rose 27 percent over the past year.
TICKER: GE
Gap — KeyBanc upgraded the apparel retailer to "overweight," saying an increase in apparel demand and a weakening dollar will help the parent of the Gap, Old Navy, and Banana Republic chains.
TICKER: GPS
Smith & Wesson — BB&T cut its rating on the gun maker to "hold" from "buy," both on a valuation basis after the stock's rise as well as a slowdown in insider buying.
TICKER: SWHC
J.M. Smucker — Goldman Sachs downgraded the food maker's stock to "sell" from "neutral," saying it expects a series of negative earnings estimate revisions due to challenges in both core and recently acquired businesses.
TICKER: SJM
Blackstone — Blackstone bought Hewlett Packard Enterprise's 60.5 percent stake in India-based outsourcing services firm MphasiS, and also offered to buy a 26 percent stake from public shareholders. That puts Blackstone's total possibly outlay at $1.1 billion. Separately, Blackstone denied a report that it is considering a deal to buy Brazilian mall operator BR Malls Participacoes.
TICKER: BX
Time Warner — Time Warner shares could jump 25 percent over the next year, according to a Barron's article. The paper points to the box office success of "Batman vs. Superman," as well as a slate of nine more superhero movies in the works.
TICKER: TWX
SunEdison — SunEdison is planning to file for bankruptcy protection within weeks, according to The Wall Street Journal. The paper said the solar power company is in talks with creditors for a loan to fund operations during the bankruptcy filing process.
TICKER: SUNE
Time Inc. — The publisher is considering a partnership with a private equity firm to bid for Yahoo's internet assets, according to Reuters.
TICKER: TIME
Facebook — Facebook's Oculus unit is experiencing delays in shipping Oculus VR virtual-reality headsets, due to parts shortages. It's not known how long the delay might be or how many shipments would be affected.
TICKER: FB
Hain Celestial — The natural products maker is reformulating dozens of its shampoos, skin cleansers and other products, and dropping claims involving a controversial ingredient called sodium lauryl sulfate. Hain and other companies have said their products contain "no harsh chemicals."
TICKER: HAIN
HP Inc. — The computer maker is set to unveil an ultra-thin laptop Tuesday, hoping to make inroads in a premium market that has been among the better performers in the declining PC industry.
TICKER: HPQ
Staples — The office supplies retailer has offered to freeze prices to win government approval for its planned buyout of Office Depot, according to the New York Post.
TICKER: SPLS
Submitted April 04, 2016 at 08:50AM by bigbear0083 http://ift.tt/1pZNUYB
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