Investing.com – Stocks in focus in premarket trade Monday:
• General Electric (NYSE:) stock rocketed 17.80% by 8:12 AM ET (13:12 GMT) after the company agreed to sell its BioPharma business to Danaher (NYSE:) for $21.4 billion.
• Kraft Heinz (NASDAQ:) stock fell 0.92%, unable to manage even a dead-cat bounce after Friday’s slump after Warren Buffett wrote billions off the value of Berkshire Hathaway (NYSE:)’s stake. While Buffett plans on holding the stake, he will not add to it. Separately, CNBC reported that the company hired Credit Suisse (SIX:) to study strategic options for its Maxwell House coffee business.
• Spark Therapeutics (NASDAQ:) stock surged 120.91% after Roche said it will acquire the company for $114.50 a share, or approximately $4.3 billion.
• Newmont Mining (NYSE:) stock rose 1.32% as Barrick Gold offered to acquire the company in an all-stock merger. Barrick’s offer doesn’t envisage any premium for Newmont stock.
• Caesars Entertainment (NASDAQ:) stock advanced 2.43% as the company prepares to offer activist investor Carl Icahn a role in selecting its next chief executive, according to people familiar with the matter cited by Reuters.
• Twitter (NYSE:) stock traded up 0.69% after a company announcement that co-founder and former chief executive Evan Williams (NYSE:) plans to step down from its board of directors at the end of the month.
• Sprint (NYSE:) stock gained 1.40% as the company announced that it would launch commercial 5G beginning in May.
• Avon Products (NYSE:) stock jumped 5.30% as the company announced the launch of a new content studio to drive digital growth.
• Qualcomm (NASDAQ:) stock rose 1.51% as the company announced a launch of 5G chips for cars, PCS and home broadband in an attempt to move beyond the smartphone market.
• Marathon Oil (NYSE:) stock lost 0.83% as the company announced an agreement to sell its assets in the North Sea to RockRose Energy for approximately $140 million.
• Clementia Pharmaceuticals (NASDAQ:) stock soared 71.75% after Ipsen agreed to buy the company in a deal worth approximately $1.31 billion.
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