– Stocks in focus in premarket trading on Monday:

  • Pfizer (NYSE:) stock inched down 0.1% by 8:15 AM ET (12:15 GMT) on news that it is buying Array Biopharma for $48 per share in cash, or $11.4 billion, including debt. Array was up 59%.
  • Boeing (NYSE:) stock rose 0.5% after The Wall Street Journal reported that the Federal Aviation Authority may start flight safety trials on the 737 MAX this week. Boeing CEO Dennis Muilenburg admitted elsewhere that the company failed to communicate properly with regulators about issues that caused two fatal crashes involving the company’s cash cow..
  • Target (NYSE:) stock slipped 0.4% after it suffered an online outage over the weekend that prevented customers from shopping online. The site is working again and the company said the outage was not due to a cyberattack.
  • Alibaba (NYSE:) stock gained 0.1% as it proposed an eight-for-one stock split to increase liquidity. The stock split will be voted on at its July 15 annual meeting, ahead of a planned secondary listing in Hong Kong.
  • Walt Disney (NYSE:) stock tumbled 0.8% after it was downgraded to “in-line” from “outperform” at Imperial Capital, according to CNBC.
  • Deutsche Bank (NYSE:) stock rose 1.3% on news that it plans to create a “bad bank” to hold non-core assets, as it slims down its trading operations, the Financial Times reported.

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