Seagen, Union Pacific and Tesla rise premarket; Pfizer falls

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Seagen, Union Pacific and Tesla rise premarket; Pfizer falls

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, February 27th. Please refresh for updates.

  • 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.

  • 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.

  • 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.

  • 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%.

  • 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.

  • 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.

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