Investing.com -- Stocks in focus in premarket trade on Monday, 16th December.
- 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.
- 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.