Check out the companies making headlines before the bell. Chevron , Hess — Chevron shares slumped more than 2% after the oil giant said its buying smaller rival Hess in an all-stock deal totaling $53 billion, or $171 a share. Hess shares moved slightly higher. Apple — Apple shares fell 1.5% following a report from the Global Times that Foxconn, a major supplier for the tech giant is facing a tax and land-use related investigation in China. Walgreens Boots Alliance — The pharmacy operator rose nearly 3% after JPMorgan upgraded Walgreens Boots Alliance shares to overweight from neutral. The firm said it expects a “cleaner year ahead” for the company and an improving cash flow profile. Textainer Group — Textainer popped more than 42% after alternative asset manager Stonepeak said it would acquire the leasing container company in a deal totaling $2.1 billion in equity value and $7.4 billion in enterprise value. Salesforce — The software giant lost nearly 2% after Piper Sandler downgraded shares to neutral from overweight, citing heightened execution and M & A risks. Roivant Sciences , Pfizer — Swiss health care company Roche said it would buy Telavant Holdings from Roivant Sciences and Pfizer in a deal worth $7.1 billion. Shares jumped 5.7% and1.1%, respectively. Okta — Shares of the cybersecurity firm fell more than 3% in premarket trading as investors considered the fallout from a data breach at the company announced last week. The slide comes after a drop of more than 11% on Friday. Citi and Evercore ISI both warned that Okta’s business could suffer a near-term hit from as a result of the attack. Alcoa — The aluminum stock dropped more than 3% before the bell. Bank of America downgraded Alcoa to a neutral rating and slashed its price target, citing concerns of a near-term earnings decline. — CNBC’s Jesse Pound contributed reporting
Source: www.cnbc.com