Investing.com - Stocks in focus in premarket trading on Monday:
• Mylan (NASDAQ:MYL) stock jumped 14.5% in premarket trade by 8:20 AM ET (12:20 GMT) after reports that it is planning to merge with Pfizer's off-patent drug business in an all-stock deal.
• Separately, Pfizer (NYSE:PFE) stock fell 2.3% after it lowered its full-year guidance, even as its earnings came in more than expected for the second-quarter.
• Uber (NYSE:UBER) stock rose 1% after Business Standard reported that Amazon (NASDAQ:AMZN) is in early stages to acquire Uber Eat’s business in India.
• Novartis (NYSE:NVS) stock slipped 1.1% after its heart failure drug Entresto did not meet its trial goal.
• Domino’s Pizza (NYSE:DPZ) stock declined 2% after Deutsche Bank (DE:DBKGn) initiated coverage at sell due to the competition presented by delivery companies, according to CNBC.
• Sanofi (NASDAQ:SNY) stock jumped 2.8% after it raised its outlook for the year on strong second-quarter results. The French drugmaker reported earnings per share of €1.31 ($1.46) on €8.6 billion ($9.5 billion) revenue.
• EXACT Sciences (NASDAQ:EXAS) stock slumped 4.6% after it said it would buy healthcare company Genomic Health (NASDAQ:GHDX) for $2.8 billion to support its cancer testing business. Genomic was up 2.2%.