- A court ruling is expected today regarding AT&T’s (T) potential $85 billion acquisition of Time Warner Inc (TWX). The US Department of Justice has attempted to block the deal over antitrust concerns.
- Citigroup (C) has indicated that it may reduce the size of its technology and operation staff, which currently employs 20,000, by 50% over the next 5 years.
- Eli Lilly & Co. (LLY) and AstraZeneca PLC (LSE:AZN) announced that they will be halting clinical trials of its lanabecestat drug, intended to combat the effects of Alzheimer’s.
- Home Depot (HD) reportedly plans to spend $1.2 billion over the next 5 years on improving its online shopping capabilities. The company will add 170 distribution centers nationally, allowing it to reach 90% of the US population.
- Lands’ End Inc (LE) reported 1Q2018 EPS that was better than expected (-$0.08 vs -$0.17 projected). Lands’ End’s stock is up 6.38% before the open to $25.00 per share.
- McDonald’s (MCD) is expected to announce changes to its organizational structure in the US today, with one of the changes being the promise of more corporate support for franchisees.
- SeaWorld (SEAS) is down 1.43% to $20.71 pre-market after the company was downgraded from neutral to a sell rating at Citi Group.
- Targa Resources (TRGP) was downgraded to equal-weight from an overweight rating at Barclays. Shares of Targa are trading 1.26% lower to $50.00 before the open.
- Twitter Inc (TWTR) stock is up 2.00% to $42.25 per share pre-market, after JP Morgan raised its price target for Twitter from $39 to $50.
Submitted June 12, 2018 at 09:19AM by QuantalyticsResearch https://ift.tt/2l5NSPa
