Investing.com - Stocks in focus in premarket trade Monday:
• United Technologies (NYSE:UTX) stock and Raytheon (NYSE:RTN) stock gained 2.4% and 8.7%, respectively, by 7:55 AM ET (11:55 GMT) after the two companies agreed to a merger that would create an aerospace and defense giant worth about $121 billion.
• Tableau Software (NYSE:DATA) stock skyrocketed 33.6% after agreeing to be acquired by Salesforce.com in a deal valued at $15.7 billion. Salesforce stock (NYSE:CRM) fell 4.9%.
• Tilray (NASDAQ:TLRY) stock jumped 17.8% after the company signed a letter of intent with its largest stockholder Privateer Holdings to extend the lock-up on 75 million of the company’s shares representing 77% of total stock outstanding.
• Shutterfly (NASDAQ:SFLY) stock traded up 6.2% on reports that Apollo Global Management was leading in offers to acquire the company in a deal that would value the digital imaging company at about $2 billion.
• Fiat Chrysler (NYSE:FCAU) stock rose 1.9% on a report that the company had renewed merger discussions with Renault (PA:RENA). Sources cited by Reuters said the deal would most likely involve a reduction in the French automaker’s stake in Nissan (T:7201) in an attempt to secure the Japanese company’s approval.
• Insys Therapeutics (NASDAQ:INSY) stock plunged 61.8% after the company filed for Chapter 11 bankruptcy.