Check out the companies making headlines before the bell:
Uber (UBER), Lyft (LYFT) – Uber and Lyft won a New York City court victory when a judge struck down a new rule that limits the time ride-hailing service drivers can cruise the streets of Manhattan without passengers.
Netflix (NFLX) – Netflix CEO Reed Hastings is in line for $34 million in stock options for 2020 on top of his $650,000 annual salary, according to a Securities and Exchange Commission filing. That compares to his 2018 compensation total of $31.5 million.
Anixter (AXE) – Electrical and industrial products maker Wesco (WCC) is offering to acquire Anixter for $90 per share. The news comes shortly after Anixter – a maker of networking equipment – agreed to a sweetened deal from private equity firm Clayton, Dubilier & Rice for $86 per share. That was up from a prior offer of $82.
Aurora Cannabis (ACB) – Aurora was downgraded to “hold” from “buy” at Jefferies, which noted increasing concern by investors about the Canadian cannabis producer’s prospects.
Credit Suisse (CS) – Credit Suisse was fined $6.5 million by U.S. regulators for supervisory failures, saying the Swiss bank’s U.S. unit did not properly monitor for potential trading violations.
Tesla (TSLA) – Tesla shares remain on watch after the automaker’s shares hit an all-time high Monday. During the session, it also surpassed the $420 level mentioned in CEO Elon Musk’s now-infamous 2018 “funding secured” tweet before finishing at $419.22.
Advanced Micro Devices (AMD) – RBC Capital raised its price target on the chip maker’s stock to $53 per share from $50, after raising full-year estimates. RBC notes “solid” channel checks involving the company’s gaming and data center businesses.