By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, February 27th. Please refresh for updates.
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Seagen (NASDAQ:SGEN) stock rose about 14% after the Wall Street Journal reported that drugs giant Pfizer (NYSE:PFE), down 1.1%, is in talks to buy the biogen company in a deal worth over $30 billion.
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Tesla (NASDAQ:TSLA) stock rose 2.4% after the electric car company said its German plant is now producing 4,000 cars per week, three weeks ahead of schedule.
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Union Pacific (NYSE:UNP) stock rose 9.4% after the transport company's CEO Lance Fritz said on Sunday he would step down this year, bowing to pressure for change from hedge fund Soroban Capital Partners.
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Zillow (NASDAQ:ZG) stock rose 0.5% after JPMorgan started coverage of the real estate marketplace at 'overweight', saying its shares can rally nearly 20%.
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Berkshire Hathaway B (NYSE:BRKb) stock rose 0.2% after Warren Buffett's holding company reported its highest ever annual operating profit, even as foreign currency losses and rising interest rates contributed to lower earnings in the fourth quarter.
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Shell (NYSE:SHEL) ADRs rose 0.3% after Goldman Sachs upgraded its investment stance on the energy giant to 'buy' from 'neutral', saying it has the highest quality combination of assets in the sector.
- Citigroup (NYSE:C) stock rose 0.2% after the U.S. bank announced it was expecting $190 million of costs tied to winding down its consumer and institutional banking business in Russia but will incur the charges through 2024.