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Are you a fan of Jim Beam bourbon? Well, it's about to be made by a Japan-based brand.
Suntory Holdings said it would buy Beam in a deal valued at $16 billion, including debt. The tie-up that will create the world's third-biggest spirits company is sending shares of Beam surging some 26% in pre-market action.
2Lululemon Athletica [LULU]
Lululemon Athletica shares are plunging in pre-market trading after the maker of yoga apparel slashed its fourth-quarter profit and sales outlook.
Investment Bank Wars: Goldman Sachs upped its price target on Twitter to $65 from $46, holdings its "buy" rating on the stock. This comes after rival Morgan Stanley sliced its outlook on the micro-blogging site to "sell" last week. Twitter is rallying more than 3% in pre-market action.
Barington Group called struggling Darden Restaurants' plan to enhance shareholder value -- including a sale of Red Lobster -- "incomplete and inadequate." Barington represents shareholders that own around 2% of the firm. Darden shares are slumping more than 1% in choppy pre-market trading.
Goldman Sachs cut its view on U.S. equities to "underweight" compared to other equity markets over the next three months due to strong performance on Wall Street. The investment bank is still "overweight" equities overall.