By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, February 14th. Please refresh for updates.
Lockheed Martin (NYSE:LMT) stock fell 0.6% after the aerospace company scrapped plans to buy rocket engine maker Aerojet Rocketdyne (NYSE:AJRD), down 2%, bowing to pressure from antitrust regulators who had sued to prevent the $4.4 billion deal.
Blackstone (NYSE:BX) stock fell 2.1% after the private equity giant’s $6.3-billion offer for Crown Resorts was accepted by the Australian casino operator’s board. The price is 11% higher than the initial offer from Blackstone almost a year ago.
Splunk (NASDAQ:SPLK) stock rose 8.6% after the Wall Street Journal reported that network gear maker Cisco Systems (NASDAQ:CSCO), rose 0.3%, has made a takeover offer worth more than $20 billion for the software maker.
Glencore (OTC:GLNCY) ADRs fell 0.1%, outperforming the broader market, after the Financial Times reported that activist inventor Bluebell Capital Partners is seeking the spin-off of its coal business, setting the commodities giant on a potential collision course.
Goodyear (NASDAQ:GT) stock rose 2.6% after JPMorgan upgraded its stance on the tiremaker to ‘overweight’ from ‘neutral’, saying its stock can rebound 45% after its recent selloff went too far.
JPMorgan Chase (NYSE:JPM) stock fell 0.3% after Jefferies downgraded its stance to ‘hold’ from ‘buy’, saying higher expenses will hold the stock back.
Intel (NASDAQ:INTC) stock rose 0.1% after Reuters reported that the tech giant’s Mobileye (F:0ME) unit plans to build and deploy self-driving electric shuttles with its partners in the United States in 2024, in a bid to scale up its automated driving system.
Tyson Foods (NYSE:TSN) stock fell 1.2% after Barclays downgraded its stance on the meat producer to ‘equal weight’ from ‘overweight’, citing limited upside with stock up over 12% already this year.
- Coinbase (NASDAQ:COIN) stock fell 0.2% after a surge in traffic following a Super Bowl advertisement resulted in the crypto exchange's app crashing briefly over the weekend.
- Peloton (NASDAQ:PTON) stock fell 2.1% after CEO Barry McCarthy ruled out a sale of the fitness equipment maker.