Check out the companies making headlines before the bell:
Tesla – The electric automaker continues to lose senior leadership, with C-suite executives Dave Morton and Gaby Toledano becoming the latest of 41 total executives who have left Tesla this year. Analysts at Baird said in a note Monday to buy Tesla stock “even with drama,” as the firm “recently toured the Fremont factory and came away incrementally positive.”
CBS – Leslie Moonves is stepping down as chairman, president, and CEO “effective immediately,” the company announced Sunday evening, following numerous allegations of sexual misconduct that spanned much of his career. COO Joseph Ianniello will step in as acting president and CEO “while the Board conducts a search for a permanent successor,” CBS said.
Apple – President Donald Trump tweeted that the technology giant should make products in the U.S. if it wants to avoid tariffs on Chinese goods, sending shares of Apple suppliers tumbling across Asia. Apple told U.S. officials Friday that proposed tariffs by Washington in an escalating trade war with China would affect prices for a “wide range” of Apple items.
Alibaba – The Chinese e-commerce giant said Monday that CEO Daniel Zhang will succeed Jack Ma as chairman of the board in 12 months. Ma will remain as executive chairman until then to smooth the transition.
Amazon – Citi raised its price target on Amazon stock to $2,250 per share from $2,100 per share, noting the e-commerce company’s Prime membership growth as “a key reason why brands and third-party sellers are increasingly relying on Amazon’s marketplace.”
Campbell Soup – Chief Operating Officer Luca Mignini is the top internal contender for CEO, Reuters said in a report, as the company attempts to find of a proxy board challenge from hedge fund Third Point.
Vivendi – The French media conglomerate criticized U.S. hedge fund Elliott as mismanaging Telecom Italia, after the firm wrestled control of Telecom Italia’s board away from Vivendi earlier this year. Elliott rejected Vivendi’s criticism Monday, saying the company seems to have fallen prey to “short termism.”
Riot BlockChain – CEO and chairman of Riot BlockChain, John O’Rourke, resigned in the wake of charges by the Securities and Exchange Commission against him for alleged fraud in connection with other companies. Riot BlockChain was not part of the SEC complaint and the company did not specify a reason for the resignation.
United Rentals – The board of United Rentals unanimously approved the company’s acquisition of equipment rental company BlueLine from Platinum Equity for about $2.1 billion in cash, United Rentals announced Monday.