Tuesday, May 21, 2024
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The Most Volatile Stocks Premarket

See which businesses are making news before the bell.

Chevron, Hess — Chevron shares fell more than 2% on the oil giant’s announcement that it was purchasing smaller rival Hess in an all-stock deal worth $53 billion, or $171 per share. Hess stock made a small upward movement.

Textainer Group — Following Stonepeak’s announcement that it would buy the leasing container company in a deal with an enterprise value of $7.4 billion and an equity value of $2.1 billion, Textainer’s stock increased by more than 42%.

Foxconn, a significant supplier to the electronics giant Apple, is under investigation in China for tax and land-use violations, according to a report from the Global Times. As a result, Apple shares dropped 1.5%.

Boots Alliance at Walgreens — After JPMorgan upgraded shares of Walgreens Boots Alliance to overweight from neutral, the pharmacy operator increased by about 3%. According to the corporation, the company will have a “cleaner year ahead” and its cash flow profile will improve.

Pfizer, Roivant Sciences In a $7.1 billion deal, Roche, a Swiss healthcare corporation, said it will acquire Telavant Holdings from Roivant Sciences and Pfizer. Stocks increased by 5.7% and 1.1%, respectively.

ServiceNow — The software behemoth fell close to 2% after Piper Sandler lowered shares from overweight to neutral, citing increased performance and M&A concerns.

Source (CNBC)

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