By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, February 22nd. Please refresh for updates.
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Boeing (NYSE:BA) stock fell 3.1% after the airplane manufacturer recommended suspending the use of 777 jets with the same type of engine that shed debris over Denver at the weekend after U.S. regulators announced extra inspections. Raytheon Technologies (NYSE:RTX), which owns Pratt & Whitney, the manufacturer of the engines, also fell 2%.
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Tesla (NASDAQ:TSLA) stock fell 2.9% despite Wedbush calculating that the electric car manufacturer has made $1 billion in paper profit on its bitcoin investments.
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Kohls (NYSE:KSS) stock rose 9.8% after the Wall Street Journal reported that a group of activist investors, with around a 9.5% stake, is attempting to take control of the department store chain's board.
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Cooper Tire (NYSE:CTB) stock soared 17% after Goodyear (NASDAQ:GT), down 3.8%, announced plans to acquire its smaller rival in a deal valued at $2.8 billion.
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People’s United Financial (NASDAQ:PBCT) stock rose 11% after the Wall Street Journal reported that M&T Bank (NYSE:MTB), down 0.6%, is nearing a deal to buy the regional bank in a $7 billion all-equity deal.
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Churchill Capital IV (NYSE:CCIV) stock rose 13% after Bloomberg reported that the SPAC is close to agreeing a deal with Lucid Motors, which would take the electric vehicle company public.
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Discovery (NASDAQ:DISCA) stock rose 6.1% after the cable channel company said it expects to have 12 million global paid streaming subscribers by the end of this month, as coronavirus-led restrictions kept people home and fueled streaming subscriber growth.
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DISH (NASDAQ:DISH) stock rose 1.4% after the satellite TV provider beat expectations for quarterly earnings and revenue. It still lost a net 133,000 pay-TV subscribers during the quarter, but this was better than the 194,000 it lost a year earlier.
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Principal Financial (NASDAQ:PFG) stock rose 3.6% after Bloomberg reported that Elliott Management has taken a stake in the life insurer, and the activist investor will be pushing for strategic changes.