Check out which companies are making headlines before the bell:
Gap — The apparel retailer reported a three percent drop in comparable-store sales for September. That was slightly larger than the 2.9 percent Thomson Reuters consensus estimate. Comparable sales were down 10 percent at the namesake Gap brand and nine percent at Banana Republic, but were higher by four percent at Old Navy. Gap’s sales were negatively impacted by an August fire at its Fishkill, N.Y., distribution center.
Camping World — Camping World will debut on the New York Stock Exchange Friday after pricing its initial public offering at $22 per share, in the middle of the expected range of $21 to $23 per share. The recreational vehicle dealer raised $251 million in the offering, and counts CNBC’s “The Profit” host Marcus Lemonis as a co-owner.
ArcelorMittal — Shares in the steelmaker are getting a boost on news that the European Union set new import duties on some grades of Chinese steel.
Volkswagen — The automaker is not considering a sale of any of its brands or raising new capital to deal with its emissions scandal costs. That’s according to board chairman Hans Dieter Poetsch, who made those comments in an interview with a German newspaper.
Deutsche Bank — Deutsche Bank is on watch today after hedge funds Marshall Wace and Discovery Capital cut their short positions in what’s being seen as a display of confidence in the German lender.
Royal Bank of Scotland, Barclays, Lloyds Banking — Renewed confidence in Deutsche Bank notwithstanding, overall worries about European banks have U.S.-listed shares of those banks falling in premarket trading.
CIT Group — CIT Group sold its aircraft leading business to a unit of China’s HNA Group for $10 billion. CIT had been exploring a sale or spinoff of that unit for about a year.
United Technologies — The industrial conglomerate will cut its pension liabilities by a total of about $1.77 billion this year, as it transfers management of its plans to a third party and offer lump sum buyouts to about 10 thousand retirees.
Honeywell — Honeywell cut its sales and profit outlook, pointing to an overall business slowdown as well as some delays.
Yahoo — Yahoo is resisting calls by buyer Verizon to cut $1 billion off the previously announced purchase price of $4.8 billion, according to the New York Post. That comes after the revelation that an estimated 500 million Yahoo accounts had been hacked in 2014, with Verizon saying it had been informed of the breach but not of the extent.
Tyson Foods — The beef and poultry producer was cut to “sell” from “buy” at Pivotal Research, which also cut its price target to $40 from $100. Pivotal’s significant shift in its position is based on a class action suit filed against Tyson, alleging that it colluded with other players in the industry to cut production of broiler chickens since 2008.
Ralph Lauren —The apparel maker was added to the “Conviction Buy” list at Goldman Sachs, which notes the one-year anniversary of CEO Stefan Larsson’s appointment and his implementation of what Goldman calls elements for a successful turnaround plan.
source”cnbc”
