Stocks - Alibaba, Ford Fall in Pre-market; Apptio Skyrockets; UPS Gains
Investing.com - Stocks in focus in pre-market trade Monday:
• Alibaba (NYSE:BABA) stock fell 1.06% by 8:14 AM ET (13:14 GMT) as the company saw its slowest rate ever of year-on-year growth in sales for its annual Singles’ Day shopping event, despite logging a record $31 billion.
• Apptio (NASDAQ:APTI) skyrocketed 51.71% after it reached a deal to be taken private by Vista Equity Partners for $38 per share, or approximately $1.94 billion.
• UPS (NYSE:UPS) stock rose 0.27% after the company reached a deal over a new labor contract with its freight workers, avoiding the possibility of a strike.
• Ford Motor (NYSE:F) stock dropped 0.21% after The Financial Times reported that the company was open to working with foreign rivals in order to expand self-driving services internationally, although chief executive officer of Ford Autonomous Vehicles declined to comment on rumors of talks with Volkswagen (DE:VOWG_p).
• Athenahealth (NASDAQ:ATHN) stock surged 8.41% as CNBC reported that Veritas Capital and Elliott Management agreed to acquire the company for $5.5 billion.
• Toll Brothers (NYSE:TOL) stock gained 2.66% amid news that Pendal Group increased its holding in the company by 41.7% in the third quarter
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