Stocks - Boeing, PG&E, IFF Fall Premarket; DuPont, Apple Rise
Investing.com -- Stocks in focus in premarket trade on Monday, 16th December.
Boeing (NYSE:BA) stock was down 3.8% after weekend reports saying it may decide to halt production of the 737 MAX, amid concerns that it will take longer than hoped to get the airplane cleared to fly again.
DuPont (NYSE:DD) stock rose 3.3% after it agreed to merge its nutrition unit – which represents just over one-quarter of group revenues – into International Flavors and Fragrances. The expanded company will be worth $26 billion. IFF (NYSE:IFF) stock fell 4.9% on perceptions that the valuation favored DuPont shareholders.
Apple (NASDAQ:AAPL) stock rose 0.7%, extending gains on relief after the trade truce struck by the U.S. and China on Friday.
WPX Energy (NYSE:WPX) stock was down 1.7% after saying it will buy privately held Delaware Basin operator Felix Energy for $2.5 billion, of which $900 million will be in cash and the rest in stock.
Electrolux (OTC:ELUXY) ADRs were set to open sharply lower after the Swedish appliance maker reported higher-than-expected costs from opening new U.S. production facilities. Its stock in Sweden was down 11%.
Pacific Gas & Electric (NYSE:PCG) was down 26% after California Governor Gavin Newsom rejected a bankruptcy reorganization plan, complicating its push to exit bankruptcy and provide billions of dollars to victims of wildfires sparked by the utility's power lines in 2017 and 2018.
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