By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, September 28th. Please refresh for updates.
WPX Energy (NYSE:WPX) stock rose 13% after U.S. shale producer Devon Energy (NYSE:DVN), up 13%, said on Monday it would buy its peer in an all-stock deal that would create a combined company worth around $12 billion.
HSBC (NYSE:HSBC) ADRs rose 9.9% after Chinese insurer Ping An raised its stake in Europe’s biggest bank to 8% from 7.95% despite tensions between China and the West.
Cleveland-Cliffs (NYSE:CLF) stock rose 8.8% after the largest U.S. producer of iron ore pellets agreed to buy the U.S. assets of the world's largest steelmaker ArcelorMittal (NYSE:MT) for about $1.4 billion in cash and shares.
Caesars (NASDAQ:CZR) stock rose 3.4% after the casino operator confirmed it was in "advanced discussions" to buy the U.K. bookmaker William Hill in a deal that could total 2.9 billion pounds ($3.7 billion). That's a little less than was speculated on Friday, when William Hill first disclosed it had held talks with both Caesars and Apollo Global Management (NYSE:APO).
Uber (NYSE:UBER) stock rose 4.2% after the ride-hailing company regained its license to operate in London, its largest market in Europe, after winning an appeal over a driver ban on safety concerns.
Ford (NYSE:F) stock rose 1.5% after the German newspaper Handelsblatt reported that the U.S. car giant has applied for 500 million euros ($581 million) of German loan guarantees aimed at helping domestic companies hit by the fallout from the pandemic.
Amazon (NASDAQ:AMZN) stock rose 2.1% after the largest online retailer announced its delayed Prime Day will start on Oct. 13, when it offers discounts to its paying members.
Cal-Maine Foods (NASDAQ:CALM) stock rose 3% after the egg producer posted a smaller-than-expected loss for its fiscal first quarter and sales that topped estimates.
Inovio Pharmaceuticals (NASDAQ:INO) stock fell 32% after the company said the Phase 2/3 clinical trial for its Covid-19 vaccine candidate had been halted while it answered additional questions from the Food and Drug Administration.