Check out which companies are making headlines before the bell:
Apollo Global Management — Tiger Global Management reported a 12.5 percent passive stake in the private-equity firm, according to a Securities and Exchange Commission (SEC) filing, up from its previously reported stake of 7 percent.
Nvdia — Pacific Crest Securities downgraded the graphics chipmaker to “underweight” from “sector weight,” on signs of desktop graphics chip market saturation and a possible pause in Nvidia’s Datacenter business, among other factors.
Caterpillar — Goldman added the heavy equipment maker’s stock to its “Conviction Buy” list, citing several factors including exposure to underinvested machinery markets in the early stages of recovery.
Bank of America — Citi downgraded the bank’s shares to “neutral” from “buy” on a valuation basis, following its nearly 40 percent run-up since the election.
Urban Outfitters, L Brands — Citi cut both retailers to “neutral” from “buy,” saying L Brands has too many stores amid declining customer traffic, while Urban Outfitters is suffering from weak traffic trends despite good store placement and a good product mix.
Mondelez — Goldman upgraded the stock to “buy” from “neutral” and added it to its “Conviction Buy” list, saying snack makers are a “global bright spot.” At the same time, the firm is removing Kraft Heinz from the “Conviction Buy” list as the stock approaches its prior price target.
Kate Spade — The company needs more time to evaluate a buyout bid from Coach, according to a Reuters report. The handbag and accessories maker had said last week it was assessing various options after getting the Coach offer.
SeaDrill — SeaDrill warned that its stock would lose virtually all of its value in a planned bankruptcy reorganization. The oil rig company has already seen the value of its shares drop about 95 percent over the past three years due to lower oil prices.
Facebook — Facebook’s WhatsApp unit is considering entering the digital payment services market in India, in what would be its first such move globally.
General Motors — GM detailed its contacts with Greenlight Capital’s David Einhorn in an SEC filing, after Einhorn went public last week with his proposal to create two different classes of GM shares. In the filing, GM said Einhorn first reached out last August and followed up with a number of meetings. GM has rejected the proposal, saying it could endanger the automaker’s investment grade credit rating.
Coca-Cola — Coca-Cola has put Warren Buffett’s picture on Cherry Coke cans in China, hoping to capitalize on the Berkshire Hathaway CEO’s popularity in that country. Coke got permission from Buffett to use his likeness for a limited time, according to a post on its website.
Teva Pharmaceutical — The drugmaker won Food and Drug Administration approval for its drug to treat Huntington’s chorea, an inherited and fatal degenerative disorder.
Qualcomm — Qualcomm will file a motion this morning to dismiss an Federal Trade Commission (FTC) lawsuit that accuses the chipmaker of engaging in anti-competitive behavior. Qualcomm general counsel Dan Rosenberg told Reuters the company will take on each of the FTC’s claims and explain why they do not support its case.
MSG Networks — The sports TV network is exploring a potential sale, according to a report in the New York Post. The paper said Verizon is a possible buyer, but that AT&T would probably pass because it is trying to win approval for its Time Warner acquisition.
Yahoo — Chief Executive Officer Marissa Mayer will not remain with the company after it is acquired by Verizon, according to a Recode report. Verizon did confirm that it plans to combine AOL and Yahoo and name the combination “Oath,” although some Yahoo-branded properties will retain the name.
Dollar Tree — The discount retailer was upgraded to “neutral” from “underweight” at Atlantic Equities, both on valuation and an improvement in pricing and merchandise. The firm already rates competitor Dollar General “neutral.”
Match Group — The online dating service operator is rated “overweight” in new coverage at Piper Jaffray, which points to the potential growth for Match’s Tinder operation.