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Chevron, Apple, Tesla fall premarket; Walgreens, Pinterest rise



— U.S. fell Monday, pressured by rising bond yields ahead of quarterly earnings from a number of tech giants this week.

Here are some of the biggest U.S. stock movers today:

Hess (NYSE:) stock rose 0.8% and Chevron (NYSE:) stock fell 2.7% after the oil major launched a bid to acquire its smaller rival in an all-stock deal valued at $53 billion.

Apple (NASDAQ:) stock fell 1.1% after Foxconn, a major supplier of Apple’s iPhones, faces a tax probe in China, according to a report in the state-backed Global Times newspaper.

Roivant Sciences (NASDAQ:) stock soared 5.4% after Roche agreed to pay an initial $7.1 billion to the drug maker, in combination with Pfizer (NYSE:), up 1.1%, for rights to a new inflammatory bowel disease drug.

Tesla (NASDAQ:) stock fell 1.5% after the EV manufacturer said its capital expenditure for 2023 would exceed the $7 billion to $9 billion target it had laid out earlier this year.

Pinterest (NYSE:) stock rose 2.4% after Stifel upgraded the image sharing company to ‘buy’ from ‘hold’, seeing substantial growth potential beyond the domestic market.

Walgreens (NASDAQ:) stock rose 3.1% after JPMorgan upgraded the pharmacy chain to ‘overweight’ from ‘neutral’, saying the recent leadership transition, with Tim Wentworth assuming the CEO role, marks the commencement of a new phase for its shares.

Salesforce (NYSE:) stock fell 1.9% and Unity Software (NYSE:) dropped 3% after Piper Sandler downgraded both software companies to ‘neutral’ from ‘overweight’, while Asana (NYSE:) fell 4.3% after Piper Sandler dropped it to ‘underweight’ from ‘neutral’.

Okta (NASDAQ:) stock fell 3.8%, continuing Friday’s selloff after the cybersecurity firm disclosed a breach of its customer support system that allowed some hackers to view files uploaded by certain clients.

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