Stocks seeing the biggest moves premarket: CVX, AAPL, WBA
Check out the companies making headlines before the bell. Chevron, Hess – Chevron shares fell more than 2% after the oil giant said it would buy smaller rival Hess in an all-stock deal worth a total of $53 billion, or $171 per Buys shares. Hess shares rose slightly. Apple – Apple shares fell 1.5% after the Global Times reported that Foxconn, a key supplier to the tech giant, is facing a tax and land use investigation in China. Walgreens Boots Alliance – The pharmacy operator rose nearly 3% after JPMorgan upgraded shares of Walgreens Boots Alliance to overweight from neutral. The company said it expects a “cleaner year” for the business and an improving cash flow profile. Textainer Group – Textainer rose more than 42% after alternative asset manager Stonepeak announced it would acquire the leasing container company in a deal with a total equity value of $2.1 billion and an enterprise value of $7.4 billion -dollars to take over. Salesforce – The software giant fell nearly 2% after Piper Sandler downgraded shares to neutral from overweight, citing increased execution and M&A risks. Roivant Sciences, Pfizer – Swiss healthcare company Roche said it would buy Telavant Holdings from Roivant Sciences and Pfizer in a deal valued at $7.1 billion. Shares rose 5.7% and 1.1%, respectively. Okta – Shares of the cybersecurity company fell more than 3% in premarket trading as investors pondered the fallout from a data breach at the company that was disclosed last week. The drop came after a decline of more than 11% on Friday. Citi and Evercore ISI both warned that Okta’s business could be impacted in the short term by the attack. Alcoa – Aluminum shares fell more than 3% premarket. Bank of America downgraded Alcoa to a neutral rating and lowered its price target, citing concerns about a near-term earnings decline. —CNBC’s Jesse Pound contributed reporting
