Stocks in focus in premarket trade Monday:
• Tesla (NASDAQ:TSLA) stock traded up 1.39% by 8:23 AM ET (13:23 GMT) as Chief Executive Elon Musk said the company will reveal a new SUV, dubbed the Model Y, on March 14. Separately, the company was also under scrutiny after news that U.S. authorities were investigating a fatal Model S crash in Florida last Sunday.
• AT&T (NYSE:T) stock rose 0.94% amid reports that the man it has installed at the head of WarnerMedia is planning to revamp CNN’s digital operations, likely to involve heavier investment in apps and in tailoring content distribution more precisely to individual users’ tastes.
• Nightstar Therapeutics (NASDAQ:NITE) stock surged 66.95% after Biogen (NASDAQ:BIIB) agreed to acquire the company for $25.50 a share for a total transaction value of around $877 million.
• Vale (NYSE:VALE) stock slumped 4.52% after the company’s chief executive Fabio Schvartmans and several other senior executives resigned over the fatal collapse of a tailings dam. The company could face a nearly $7 billion fine if convicted of colluding with safety auditors to hide the dangerous conditions at the collapsed damn.
• Amazon.com (NASDAQ:AMZN) stock rose 0.91% after a Wall Street Journal report on Friday that the company plans to expand its food business by opening grocery stores across the U.S. Rivals Walmart (NYSE:WMT) and Kroger Company (NYSE:KR) were up 0.1% and 0.2%, respectively
• Lockheed Martin (NYSE:LMT) stock rose 0.49% despite reports that the Pentagon cut its plans to request F-35 jets by six to 78.
