Check out the companies making headlines before the bell:
Boeing – Boeing remains on watch, after new documents reviewed by a congressional panel revealed what’s being called “very disturbing” revelations regarding the grounded 737 Max jet, according to a congressional aide quoted by Reuters. Boeing issued a statement saying it had proactively brought the documents to the FAA and Congress, and said the tone and content do not reflect “the company we are and need to be”.
Amazon.com – Amazon said the holiday shopping season broke all prior records, with “billions” of items ordered worldwide and “tens of millions” Amazon devices purchased.
Qiagen – Qiagen said it decided against a sale of the company following a review. The Netherlands-based genetic testing firm said it determined that operating as a stand-alone business is its best option. Qiagen said it had gotten several indications of interest, with reports saying one of those potential bids came from medical device maker Thermo Fisher Scientific.
PayPal – PayPal will continue to pursue potential takeover targets in 2020, according to Chief Financial Officer John Rainey. He told the Wall Street Journal there are many acquisition opportunities in the payments sector, with PayPal targeting transactions in the $1 billion to $3 billion range.
Exxon Mobil, Chevron – These and other oil stocks could get a boost as oil prices touch their highest in more than 3 months, boosted by a report showing lower U.S. crude inventories.
TiVo – The digital video recorder maker said it would pay a termination fee of $50.8 million to technology licensing company Xperi under certain circumstances, if their planned all-stock merger does not take place. There are other termination scenarios, according to an SEC filing, in which Xperi would pay TiVo $44 million.
KKR – The private equity firm is buying digital content platform Overdrive from Rakuten for an undisclosed amount. The Japanese e-commerce company purchased Overdrive in 2015 for $410 million.
Spectrum Pharmaceuticals – The drug maker said its experimental treatment for non-small cell lung cancer missed its primary goal in a mid-stage trial.