Check out which companies are making headlines before the bell:
Cisco Systems — A U.S. court of appeals ruled the tech giant did not infringe a patent holding company’s Wi-Fi technology, reversing a near $64 million judgment against it.
Freeport-McMoRan — Shares of the gold and copper producer rose nearly 2 percent in the premarket, bouncing back from a 9.51 percent loss Monday following the resignation of co-founder James R. Moffett.
Transocean — Transocean’s stock rose over 2 percent in the premarket, a day after falling 4.93 percent on news that Shell had opted to terminate its contract for the harsh environment semisubmersible Polar Pioneer before the expiration in July 2017.
Whole Foods Market — The company will pay $500,000 and agreed to conduct quarterly in-store audits at all New York City locations to end an investigation into overcharging for pre-packaged foods at stores in the city.
GrubHub — Venture capitalist Bill Gurley resigned from GrubHub’s board of directors last week, according to The Wall Street Journal. Gurley will be replaced by Katrina Lake, chief executive of online fashion startup Stitch Fix, the newspaper said.
Honeywell — The multinational conglomerate completed the $5.1 billion acquisition of Elster Group, the utility consumption metering division of London-based Melrose Industries, Dow Jones reported.
Pep Boys — Activist investor Carl Icahn raised his bid for the auto parts retailer to $18.50 a share, matching Japanese tire maker Bridgestone’s bid of $17 per share.
JPMorgan Chase — The banking giant said it plans to raise deposit rates for most of its large clients. Sources told CNBC that interest rates would rise on operating deposits held in dollars, but did not specify by how much.
Valeant Pharmaceuticals — Valeant Chief Executive J. Michael Pearson will be on medical leave after being hospitalized with severe pneumonia, the company said.
— CNBC’s Jacob Pramuk, Tom DiChristopher and Reuters contributed to this report.
[“source -cncb”]
