Stocks making the biggest moves premarket: MRK, VIAB, CBS, FB, GM, HLT, BA, TSLA & more
Merck – Merck reported upbeat results in a study involving the use of its Keytruda drug in treatment of non-small cell lung cancer, resulting in longer survival rates.
Viacom – Viacom asked CBS to raise its takeover bid by $2.8 billion, according to Reuters, asking for 0.68 CBS shares for each Viacom share versus the 0.55 offered by CBS. CNBC reported last week that Viacom's counter offer would be higher than 0.62 CBS shares for each Viacom share.
Facebook – Facebook suspended data analytics firm CubeYou from its platform after CNBC notified it that the firm was collecting information about users through quizzes. Separately, CEO Mark Zuckerberg will meet with some U.S. lawmakers today, ahead of scheduled congressional appearances Tuesday and Wednesday, according to a Reuters report.
General Motors – Morgan Stanley upgraded the automaker's stock to "overweight" from "equal weight," saying GM and other automakers would benefit as the dynamic between pickup truck sales and a potential ramp up in infrastructure spending is better understood.
Hilton Worldwide – The hotel operator said a selling shareholder affiliated with China's HNA has begun a secondary offering of about 63 million shares. HNA – Hilton's largest shareholder – had said in a Friday Securities and Exchange Commission filing that it was planning to sell some or all of its 26.1 percent stake.
Boeing – Boeing received an order for 47 787 Dreamliners from American Airlines. The order is valued at more than $12 billion at list prices, and more than doubles American's 787 fleet.
Tesla – Tesla is recalling about 8,900 Model S vehicles in China to address a power steering issue.
AveXis – AveXis is agreed to be bought by Swiss drugmaker Novartis for $8.7 billion or $218 per share in cash compared to the Friday closing price for AveXis of $115.91. The U.S.-based company's primary drug is a treatment for a deadly disease known as spinal muscular atrophy.
Deutsche Bank – Deutsche Bank named Christian Sewing as its new chief executive officer. Sewing, who had been the bank's deputy CEO, said Deutsche Bank had to make tough decisions and stick with cost targets to avoid further losses.
Kinder Morgan – Kinder's Canadian unit suspended work on a controversial pipeline expansion. The pipeline operator said it would scrap the expansion unless various legal challenges could be resolved by the end of May.
Goldman Sachs – Proxy advisory firm ISS is urging shareholders to vote against Goldman's proposed stock plan for employees. ISS is concerned about the costs of the plan and the level of stock-based compensation.
CBS – CBS nominated former Time Warner CEO Richard Parsons to its board as an independent director.
Northrop Grumman – Northrop is being faulted by government and industry experts for the crash of a U.S. spy satellite in January, according to The Wall Street Journal. The report said those experts have concluded the crash was caused by engineering and testing errors.
Wells Fargo – Wells Fargo is expanding an internal review of the auto products and services it offers, according to the Journal. The bank is said to be taking those steps to get ahead of increasing scrutiny from regulators.