See the companies making headlines before the market opens. United States Steel – The industrial stock tumbled 6% after Vice President Kamala Harris opposed the proposed sale of United States Steel to Japan’s Nippon Steel. She made the comments during a Labor Day rally before union members in Pittsburgh, Pennsylvania, where she said United States Steel is “a historic American company and it is vital to our country to maintain strong American steel companies.” Boeing – Shares fell 3% after Wells Fargo downgraded the aircraft maker to “underweight” from “equal weight.” Analyst Matthew Akers cited the company’s highs in free cash flow as the reason for the downgrade. Unity Software – The video game maker gained 6% after Morgan Stanley upgraded the stock to “overweight” from “equal weight.” The bank cited Unity’s position as a “clear play machine” and downgraded forecasts as catalysts for the stock. NetApp – The data storage stock gained 1.6% after Loop Capital upgraded the stock to buy from hold. Loop analyst Ananda Baruah cited several catalysts, including NetApp’s cloud storage software partnerships and a recent pullback. Novartis – Shares fell 1.7% after Jefferies downgraded the rating to hold from buy. Analyst Peter Welford noted that while he was optimistic about the pharmaceutical stock’s long-term trajectory, Novartis will need time until 2025 to ramp up its approvals. Bank of America – The bank stock fell marginally. Warren Buffett’s Berkshire Hathaway, which began trimming its stake in Bank of America this summer, said Friday that it sold more shares last week. Merck – The pharmaceutical giant announced Tuesday that the European Commission has approved a combination of drugs, including Merck’s Keytruda, to treat bladder cancer. Merck shares were little changed. – CNBC’s Michelle Fox and Jesse Pound contributed reporting.
