Apple, Chevron, Biogen fall premarket; Univar, Pinduoduo rise
- S&P 500, Nasdaq edge higher on Microsoft boost; Powell comments eyed
- CVS Health (CVS) to buy Oak Street Health (OSH) for $10.5 billion - WSJ
- Biden expected to call for 400% increase in buyback tax
- Pinterest (PINS) erases bulk of after-hours losses after positive earnings call, analysts raise numbers
- Activision Blizzard (ATVI): Call of Duty strength fuel earnings beat
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, November 28th. Please refresh for updates.
Univar (NYSE: UNVR) stock rose over 10% after German rival Brenntag (ETR:BNRGn) said it had held preliminary talks with the chemicals company about a potential merger.
Chevron (NYSE: CVX) stock fell 2% after crude oil prices dropped sharply on the rising COVID cases and civil unrest in China, the world’s largest importer. These losses occurred despite Chevron receiving a U.S. license to expand its production in Venezuela.
- Biogen (NASDAQ: BIIB) stock fell 4% after an online report that a woman participating in a trial of the experimental Alzheimer's treatment lecanemab had recently died.
Anheuser-Busch InBev (EBR: ABI) ADRs rose 4.2% after JPMorgan upgraded its stance on the world's largest brewer to 'buy' from 'sell', saying the slowing demand for hard seltzer could open opportunities for the beer giant.
Pinduoduo (NASDAQ: PDD) stock rose 14% after the Chinese online retailer beat expectations for third quarter revenue, helped by COVID-related lockdowns in the country that forced consumers to shop online.
DraftKings (NASDAQ: DKNG) stock fell 4.6% after JPMorgan downgraded the sports betting company to 'underweight' from 'neutral', saying rival companies now look more attractive.
Williams-Sonoma (NYSE: WSM) stock fell 4.4% after Morgan Stanley downgraded its stance on the retailer of home furnishings to 'underweight' from 'equal-weight', saying the stock could fall another 18%.
Credit Suisse (NYSE: CS) stock fell 3.6% after the head of the lender's Swiss unit said "some customers have withdrawn some of their money, but very few have actually closed their accounts." Last week, the Swiss bank said it expects to make a hefty pretax loss in the fourth quarter.
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