Check out the companies making headlines midday Monday:
Apple —Apple fell 0.16 ahead of an event where the company is expected to unveil their new streaming service. The service is also expected provide users with original programming produced by Apple as well as packages like HBO and Starz.
Tier REIT — Tier REIT rose more than 7 percent after announcing a merger with Cousin’s Properties. The merger will creat a company worth nearly $6 billion. The two companies expect to close the deal by the third quarter of the year. Cousin’s Properties dipped nearly 6 percent.
Viacom — Shares of Viacom surged more than 6 percent after the media company renewed its carriage contract with AT&T. The new contract keeps Viacom channels on AT&T platforms, avoiding a blackout of MTV, Nickelodeon and Comedy Central for DirecTV users.
Boeing — Shares of the plane maker rose almost 1 percent as Boeing readies its software fix, following the fatal crash of two Boeing 737 Max 8s in the past year. Pilots tested the software changes Saturday as representatives from U.S. airlines met with Boeing officials.
Tesla — Tesla’s stock dropped more than 1 percent after RBC Capital Markets lowered its price target on the stock to $210 from $245, citing lackluster demand and overseas Model 3 delivery problems. The bank predicts the electric car maker will post an adjusted loss of 64 cents per share, down from a prior estimate of a profit of 68 cents per share.
Nu Skin Enterprises — The personal care products company fell 8 percent after an analyst at Stifel downgraded it to sell from hold, citing higher regulatory concerns out of China. The analyst also slashed his 12-month price target to $43 a share from $63.
Hibbett Sports — Shares of the apparel retailer rose nearly 2 percent after Susquehanna upgraded them to positive from neutral. Susquehanna highlighted the company’s “impressive” fiscal fourth quarter as well as “benefits and synergies” from its City Gear acquisition, among other reasons.
NCR Corp. —The self-service kiosk maker’s stock fell more than 2 percent after J.P. Morgan downgraded it to neutral from overweight. “We believe the mix-shift toward software and SaaS will not be fast enough to trigger a re-rating of the stock in the next 6- 12 months,” J.P. Morgan said.
—CNBC’s Yun Li, Nadine El-Bawab and Jessica Bursztynsky contributed to this report.