By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, February 28th. Please refresh for updates.
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BP (NYSE:BP) ADRs fell 7.9% after the energy giant announced its intention to exit from its stake of around 20% in Russia’s Rosneft (OTC:OJSCY), a decision that it said could cost around $25 billion.
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Renewable Energy (NASDAQ:REGI) stock soared 38% after oil major Chevron (NYSE:CVX), up 0.29%, announced plans to buy the biodiesel maker in a deal valued at $3.15 billion.
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L3Harris Technologies (NYSE:LHX), Raytheon Technologies (NYSE:RTX), Lockheed Martin (NYSE:LMT), General Dynamics (NYSE:GD) and Northrop Grumman (NYSE:NOC) stocks all jumped by at least 4%, with these defense companies boosted by the news that Germany plans to dramatically increase its military spending.
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First Horizon (NYSE:FHN) stock rose 32% after Canadian TD Bank announced plans to buy the U.S. lender in an all-cash deal valued at $13.4 billion to expand its footprint in the United States.
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AerCap (NYSE:AER) stock fell 5.5% after the world’s biggest aircraft leasing firm said it will halt leasing to Russia, a region which usually leases around 5% of its fleet.
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ViaSat (NASDAQ:VSAT) stock will be in focus after the satellite communications firm said it was investigating a suspected cyberattack that caused a partial outage in its residential broadband services in Ukraine and other European countries.
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Nielsen (NYSE:NLSN) stock rose 8.14% after the TV ratings firm reported stronger than expected quarterly earnings, issued an upbeat full-year forecast and announced a $1 billion share repurchase program.
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Block (NYSE:SQ) stock fell 1.6%, outperforming the wider market, after BMO Capital Markets upgraded its stance on the fintech company to “outperform” from “market perform,” seeing more than 30% upside.