Newmont, Magellan Midstream, Ford and Meta rise premarket; ONEOK falls

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Investing.com — Stocks in focus in premarket trade on Monday, May 15th. Please refresh for updates.

• Newmont Goldcorp (NYSE:) stock rose 0.6% after Australian target Newcrest Mining (OTC:) said it would back the U.S. gold miner’s approximate $18 billion takeover offer in one of the world’s largest buyouts so far this year.

• ONEOK (NYSE:) stock fell 5.8% after the natural gas transmission company agreed on Sunday to buy U.S. pipeline operator Magellan Midstream (NYSE:), up 15.7%, in a cash-and-stock deal valued just short of $19B.

• Charles Schwab (NYSE:) stock rose 2.1% after Raymond James upgraded its stance on the financial services company to ‘Outperform’ from ‘Market Perform’, seeing strong growth in net new accounts despite the banking turmoil.

• Ford (NYSE:) stock rose 0.3% after the auto giant announced plans to reduce costs in China as it strives to recover from a sales slump in the world’s largest auto market.

• Walt Disney (NYSE:) stock rose 0.2% after the Hong Kong Disneyland Resort said on Monday its 2022 revenue jumped 31% as the number of domestic visitors to its attractions hit a record.

• Meta Platforms (NASDAQ:) stock rose 1.2% after Loop Capital upgraded the Facebook owner to ‘Buy’ from ‘Hold’, saying its revenue outlook is getting brighter.

• BBVA (NYSE:) ADRs fell 4.1% with the Spanish bank exposed to the political uncertainty in Turkey following the weekend’s inconclusive presidential election through its 86% holding in Garanti BBVA.

• Sarepta Therapeutics (NASDAQ:) stock rose 28% after an FDA panel backed the accelerated approval of the company’s gene therapy for Duchenne muscular dystrophy.