The Tesla Model 3 vehicle is displayed ahead of the Los Angeles Auto Show in Los Angeles.
Patrick T. Fallon | Bloomberg | Getty Images
Check out the companies making headlines before the bell:
Nio – The China-based electric vehicle maker reported a lower-than-expected loss for its latest quarter, as well as better-than-expected revenue. Nio said it increased deliveries in China despite a reduction in electric vehicle subsidies.
Tesla – The automaker delivered the first Model 3 sedans made at its new Shanghai factory, and plans to ramp up deliveries in January.
Restaurant Brands International – The company said Tim Hortons unit president Alex Macedo would leave the company in March after two years in the job. The company’s most recent quarter saw results negatively impacted by Tim Hortons, while its Burger King and Popeyes chains had more positive performances.
AstraZeneca – The drugmaker received FDA approval to use its pancreatic cancer drug Lynparza as a first-line treatment for the disease.
Walt Disney – Disney’s “Star Wars: The Rise of Skywalker” topped the weekend box office for the second straight time, taking in $72 million in North American ticket sales. Disney has had six movies pass the $1 billion mark this year — with “Skywalker” likely to be the seventh — and the company has accounted for nearly 40 percent of 2019 U.S. box office receipts.
LendingTree – LendingTree was upgraded to “buy” from “neutral” at Compass Point, in what the firm characterizes as a valuation call. Its price target for the online lender remains at $340 per share.
iHeartMedia – A purchase of the radio station operator by Liberty Media may be blocked by the Justice Department, according to the New York Post. The paper said regulators are going to examine whether such a combination might be anticompetitive. Liberty, which holds a 4.8% stake in the radio station operator, had sought the Justice Department’s blessing for such a deal, according to multiple reports.
Goodyear Tire – The tiremaker was rated “buy” in new coverage at Nomura/Instinet, with a price target of $20 per share. The firm said it saw a strong earnings recovery from 2020 onwards following a restructuring.