GE, AMD, Harley Davidson Fall in Pre-market, Campbell Soup Jumps
Investing.com - Stocks in focus in pre-market trade Monday:
• General Electric (GE) stock slipped 0.1% by 8:27AM ET (12:27GMT) amid a Wall Street Journal report that the conglomerate was close to a deal to sell its industrial gas engines business to private equity firm Advent International for $3 billion or more.
• Advanced Micro Devices (AMD) lost 0.6% despite the fact that Bank of America-Merrill Lynch lifted its priced target to $20 from $17 and reiterated its buy rating.
• Harley-Davidson (HOG) fell 1.7% after it indicated that European Union retaliatory tariffs will increase the average cost of its exported motorcycles by $2,200.
• Campbell Soup (CPB) stock soared 5.1% after the New York Post reported that Kraft Heinz was interested in acquiring the company.
• First Solar (FSLR) stock gained 3.2% after Bank of America-Merrill Lynch upgraded its recommendation to buy from neutral with a $63 price target.
• Lexicon Pharmaceuticals (LXRX) stock jumped 3.8% after announcing positive results for a Phase 3 study on a drug for type-1 diabetics.
• Education Realty Trust (EDR) stock rose 1.4% on news that it will be acquired by the newly-formed Greystar Student Housing Growth and Income Fund. Shareholders will receive $41.50 per share in an all-cash transaction valued at approximately $4.6 billion.
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