Check out the companies making headlines before the bell:
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Rolls-Royce, Airbus – Ratings agency Moody’s identified the aerospace and defense companies at risk if Britain leaves the European Union. The two companies would suffer from the changes to cross-border movement of parts and equipment, according to Moody’s.
Alibaba – Goldman Sachs reiterated its “buy” rating on Alibaba stock and raised its price target to $247 a share. Alibaba will thrive as it dominates new markets in China, according to Goldman Sachs.
Aston Martin (ASTM) – The luxury automaker debuted on London markets with a market capitalization of $5.6 billion.
Michael Kors – Citi upgraded the luxury retailer to a “buy” rating on its steady quarterly earnings wins. The firm said the recent acquisition of Versace “brings uncertainties” but added that Kors did not overpay as “Versace seems to be on the rise.”
Tempur-Sealy – Shares of the company soared after Reuters reported competitor Mattress Firm is preparing to file for bankruptcy.
Exxon Mobil – The European Union Commission cleared Qatar Petroleum to acquire a 30 percent stake in Exxon Mobil’s shale oil assets in Argentina.
Apple – CEO Tim Cook blasted tech companies which claim greater customer data leads to superior products. That’s a “bunch of bunk,” Cook said, as he appeared to admonish the likes of advertising giants Facebook and Google, which rely on data sharing with third parties.
Tesla – CEO Elon Musk gave an ultimatum to the Tesla board of directors before the Securities and Exchange Commission filed its lawsuit Thursday, threatening to quit if he and the company entered into the settlement. Musk settled with the SEC two days later.
Cigna – Goldman Sachs added Cigna to its list of “Conviction Buys” and raised its price target on Cigna to $250 a share.