Check out the companies making headlines before the bell:
Apple (AAPL) – Apple shut down all its stores and corporate offices in mainland China due to the coronavirus. The closure is scheduled to last until Feb. 9.
Aimmune Therapeutics (AIMT) – The drugmaker received Food and Drug Administration approval for the first-ever treatment for peanut allergies.
Check Point Software (CHKP) – Check Point reported quarterly profit of $2.02 per share, 3 cents a share above estimates. The cybersecurity company’s revenue also beat Street forecasts, boosted by an increase in subscriptions.
Boeing (BA) – Boeing faces a new obstacle in getting the grounded 737 Max back in service, according to The Wall Street Journal. The paper quotes people familiar with the matter as saying that European regulators want what they regard as potentially hazardous wiring relocated to avoid short circuits.
Verizon (VZ) – Verizon was downgraded to “neutral” from “outperform” at Credit Suisse, which said the stock lacks positive near-term catalysts. Credit Suisse feels positive influences for the stock are weighted toward the back half of the year, ahead of the mass market launch of 5G service.
Seagate Technology (STX) – Seagate was upgraded to “buy” from “hold” at Stifel Nicolaus, pointing to improving fundamentals for the disk drive maker.
Nike (NKE) – The athletic footwear and apparel maker’s stock was added to the “Analyst Focus List” at J.P. Morgan Chase, which sees a recent pullback as a buying opportunity. J.P. Morgan points to Nike’s innovation and product pipeline.
Uber (UBER) – Uber was added to the “Best Ideas” list at Wedbush, which feels the ride-hailing service has laid the groundwork for growth, especially amid the streamlining of the Uber Eats operation.
Northrop Grumman (NOC) – The defense contractor’s stock received a double downgrade at Goldman Sachs, which pushed its rating to “sell” from “buy.” Goldman said the company’s organic revenue growth is slower than that of its peers and that profit margins are compressing.