A number of stories are piquing interest before the New York bell, including one from drugs giant Pfizer Inc (NYSE:PFE). Indeed the pharma and biotech sectors were in focus early on.
Shares are tracking down 0.16% before the bell as new emerged that the group plans to lose around 2% of its workforce around the world through voluntary retirements and layoffs this year and early next year.
The company, which employs 90,000 around the planet, announced the plan to workers on Tuesday, according to CNBC.
The company is aiming to streamline its corporate structure and eliminate some managerial roles.
Also drawing attention is Philip Morris International (NYSE: PM), which is up 2.7%. The surge came after the Marlboro cigarettes maker zipped past the Street's earnings estimates for the third quarter on the back of sales of its IQOS tobacco-heating device.
Shares of the insurer Travelers Companies (NYSE:TRV) held steady at $126.44, meanwhile, despite reporting a jump in its third-quarter earnings, which were helped by a decline in its catastrophe losses.
Elsewhere, biopharma giant Endocyte Inc (NASDAQ:ECYT) jumped up over 51% to $23.58 in pre-market as it emerged it was being bought by Novartis in a $2.1 billion deal, or $24 per share.
The deal will help Novartis AG (SWX:NOVN) to investigate the potential development of a drug candidate for use in earlier lines of prostate cancer therapy. Novartis shares gained 1.57% to $85.60.
Also in focus, mobile communications giant Ericsson unveiled stronger-than-expected third-quarter sales, boosted primarily mainly by business in North America.
Net sales for the three months advanced 9% year-on-year and 8% since the last quarter.
Also Thursday, there was merger news concerning Caesars Entertainment Corp (NASDAQ:CZR), which saw shares add 0.78% to $10.28 before the New York bell.
Golden Nugget Casinos owner Tilman Fertitta wants to make a deal with the group, which values it at $13 per share, according to CNBC.
The all-paper merger if it went ahead, and which was proposed a week ago, would reportedly exchange stock in a private firm owned by Fertitta for Caesars shares, at the same multiple that Caesars currently trades at.