Newmont, Magellan Midstream, Ford and Meta rise premarket; ONEOK falls
Investing.com -- Stocks in focus in premarket trade on Monday, May 15th. Please refresh for updates.
Newmont Goldcorp (NYSE: NEM) stock rose 0.6% after Australian target Newcrest Mining (OTC: NCMGF) said it would back the U.S. gold miner’s approximate $18 billion takeover offer in one of the world's largest buyouts so far this year.
ONEOK (NYSE: OKE) stock fell 5.8% after the natural gas transmission company agreed on Sunday to buy U.S. pipeline operator Magellan Midstream (NYSE: MMP), up 15.7%, in a cash-and-stock deal valued just short of $19B.
Charles Schwab (NYSE: SCHW) stock rose 2.1% after Raymond James upgraded its stance on the financial services company to ‘Outperform’ from ‘Market Perform’, seeing strong growth in net new accounts despite the banking turmoil.
Ford (NYSE: F) stock rose 0.3% after the auto giant announced plans to reduce costs in China as it strives to recover from a sales slump in the world's largest auto market.
Walt Disney (NYSE: DIS) stock rose 0.2% after the Hong Kong Disneyland Resort said on Monday its 2022 revenue jumped 31% as the number of domestic visitors to its attractions hit a record.
Meta Platforms (NASDAQ: META) stock rose 1.2% after Loop Capital upgraded the Facebook owner to ‘Buy’ from ‘Hold’, saying its revenue outlook is getting brighter.
BBVA (NYSE: BBVA) ADRs fell 4.1% with the Spanish bank exposed to the political uncertainty in Turkey following the weekend’s inconclusive presidential election through its 86% holding in Garanti BBVA.
Sarepta Therapeutics (NASDAQ: SRPT) stock rose 28% after an FDA panel backed the accelerated approval of the company’s gene therapy for Duchenne muscular dystrophy.