Investing.com - Stocks in focus in premarket trading on Monday:
- Celgene (NASDAQ:CELG) stock rose 3.7% in premarket trade by 8:30 AM ET (12:30 GMT) after Amgen (NASDAQ:AMGN) said it would buy Celgene's psoriasis treatment Otzela for $11.4 billion net of tax considerations. The asset is being sold off as part of Bristol-Myers Squibb's (NYSE:BMY) acquisition of Celgene.
Walt Disney (NYSE:DIS) stock gained 1.2% after reports that it is collaborating with Target to open stores in 25 Target locations across the U.S., with another 40 planned by October 2020. Target (NYSE:TGT) rose 0.6%.
- Apple (NASDAQ:AAPL) stock was up 1.7%, recouping less than half of the losses it made on Friday in the wake of the escalation of the U.S.-China trade war
- Caterpillar (NYSE:CAT) stock was up 1.1% after falling over 3% on Friday due to the same causes
Tesla (NASDAQ:TSLA) stock was up 1% after Reuters reported that the electric vehicle maker is planning to raise prices in China earlier than planned and could increase prices in December should Chinese tariffs on U.S. made cars be imposed.
Johnson & Johnson (NYSE:JNJ) stock inched up 0.3% ahead of an expected court decision from an Oklahoma judge on whether the company should be held liable in a $17 billion lawsuit. The company faces allegations that its marketing practices fueled the opioid epidemic by flooding the market with painkillers.