Stocks – RedHat Soars in Pre-market, IBM Falls, Tesla, Ford Jump


Stocks - RedHat Soars in Pre-market, IBM Falls, Tesla, Ford Jump – Stocks in focus in pre-market trade Monday:

• Red Hat (NYSE:RHT) stock surged 51.31% by 7:54 AM ET (11:54 GMT) after IBM said it would acquire the company for $34 billion, including debt, or $190 per share. Shares in IBM (NYSE:IBM) fell 1.84%.

• Tesla (NASDAQ:TSLA) stock rose 3.41% after a partner at Baillie Gifford, fund manager that is the company’s third largest stakeholder, told the Yahoo Finance in an interview that it would be willing to invest more in the electric carmarker.

• Ford Motor (NYSE:F) stock gained 3.01% after Goldman Sachs upgraded the company to buy from neutral, according to Briefing.

• Tower Semiconductor (NASDAQ:TSEM) stock sank 15.38% after third-quarter results missed consensus on the top and bottom lines.

• Johnson & Johnson (NYSE:JNJ) stock edged up 0.11% after the company announced that a court ruling had invalidated its patent claims for its drug Zytiga, paving the way for competitors to produce generic versions of the prostate cancer medicine.

• First Data (NYSE:FDC) tumbled 9.72% after the company lowered its full-year guidance, explaining that the reduction was due “primarily to reflect recent adverse foreign currency movements”.

• Denbury Resources (NYSE:DNR) stock traded down 3.68% after the company said it would acquire Penn Virginia for approximately $1.7 billion, consisting of 12.4 shares of Denbury common stock and $25.86 of cash for each share of Penn Virginia common stock. Shareholders will be permitted to elect all cash, all stock or a mix of stock and cash.

• Dicerna Pharmaceuticals (NASDAQ:DRNA) soared 32.31% after reaching an RNAi licensing and research collaboration with Eli Lilly.

• Yandex (NASDAQ:YNDX) stock jumped 6.42% after Vedomosti reported that the Russian competition regulator was ready to clear Sberbank’s proposal to take at least a 30% stake in the company.

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