Chevron, Apple, Tesla fall premarket; Walgreens, Pinterest rise
Investing.com -- U.S. futures fell Monday, pressured by rising bond yields ahead of quarterly earnings from a number of tech giants this week.
Here are some of the biggest premarket U.S. stock movers today:
Hess (NYSE: HES) stock rose 0.8% and Chevron (NYSE: CVX) stock fell 2.7% after the oil major launched a bid to acquire its smaller rival in an all-stock deal valued at $53 billion.
Apple (NASDAQ: AAPL) stock fell 1.1% after Foxconn, a major supplier of Apple's iPhones, faces a tax probe in China, according to a report in the state-backed Global Times newspaper.
Roivant Sciences (NASDAQ: ROIV) stock soared 5.4% after Roche agreed to pay an initial $7.1 billion to the drug maker, in combination with Pfizer (NYSE: PFE), up 1.1%, for rights to a new inflammatory bowel disease drug.
Tesla (NASDAQ: TSLA) stock fell 1.5% after the EV manufacturer said its capital expenditure for 2023 would exceed the $7 billion to $9 billion target it had laid out earlier this year.
Pinterest (NYSE: PINS) stock rose 2.4% after Stifel upgraded the image sharing company to ‘buy’ from ‘hold’, seeing substantial growth potential beyond the domestic market.
Walgreens (NASDAQ: WBA) stock rose 3.1% after JPMorgan upgraded the pharmacy chain to ‘overweight’ from ‘neutral’, saying the recent leadership transition, with Tim Wentworth assuming the CEO role, marks the commencement of a new phase for its shares.
Salesforce (NYSE: CRM) stock fell 1.9% and Unity Software (NYSE: U) dropped 3% after Piper Sandler downgraded both software companies to ‘neutral’ from ‘overweight’, while Asana (NYSE: ASAN) fell 4.3% after Piper Sandler dropped it to ‘underweight’ from ‘neutral’.
- Okta (NASDAQ: OKTA) stock fell 3.8%, continuing Friday’s selloff after the cybersecurity firm disclosed a breach of its customer support system that allowed some hackers to view files uploaded by certain clients.