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.
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.
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Oil stocks see broad selloff as Chevron’s buyout of Hess fails to fuel buyingTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
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