Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Stocks - Uber, Grubhub Consolidate in Premarket; JC Penney Surges

Stock MarketsMay 13, 2020 09:09AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Geoffrey Smith -- Stocks in focus in premarket trade on Wednesday, May 13th. Please refresh for updates.

  • Uber (NYSE:UBER) stock was up 0.6% while Grubhub stock was roughly flat after a rise of nearly 30% on Tuesday after reports that Uber wants to acquire its smaller rival in the food delivery segment through an all-stock deal. CNBC reported that Grubhub had knocked back an offer of 2.15 Uber shares for each Grubhub share.
  • Uber separately filed to raise $750 million in five-year debt on Wednesday.
  • Walt Disney (NYSE:DIS) stock was up 0.2% after it filed to raise up to $11 billion in long-term debt, with maturities spread between 2026 and 2060.
  • Occidental Petroleum (NYSE:OXY) stock was up 0.8% after a report saying that the company is offering voluntary buyout packages to employees as it downsizes in response to collapsing oil prices.
  • Mylan (NASDAQ:MYL) stock was up 1.1% but off earlier highs after the company announced it was one of a handful of partners chosen to manufacture Gilead’s remdesivir drug to enable mass distribution across the world in case it proves effective as a treatment for the Covid-19 virus. Gilead Sciences (NASDAQ:GILD) stock was up 1.5%.
  • JC Penney (NYSE:JCP) stock surged 26% after a report that it is in talks to secure $450 million in debtor-in-possession financing ahead of a possible chapter 11 filing on Friday.
  • Sony (NYSE:SNE) ADRs were down 1.8% after the company reported a 57% drop in operating profit for the quarter and said it expects operating profit to fall at least 30% this year.
  • The quarterly results were rescued partly by strong demand for its gaming services and surprisingly robust demand for the components that it makes for smartphones.
  • Tesla (NASDAQ:TSLA) stock rose 1.3% after Alameda County said that the company could make preparations to re-open its Fremont production facility as early as next week. 
Stocks - Uber, Grubhub Consolidate in Premarket; JC Penney Surges

Related Articles

Tesla's Musk says Biden's EV bill shouldn't pass
Tesla's Musk says Biden's EV bill shouldn't pass By Reuters - Dec 06, 2021 5

SAN FRANCISCO (Reuters) - Tesla (NASDAQ:TSLA) Inc CEO Elon Musk said on Monday that the U.S. Congress should not approve the Biden administration's bill to boost subsidies for...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email