Investing.com - Stocks in focus in premarket trade Monday:
• Papa John's (NASDAQ:PZZA) stock soared 6.02% by 8:14 AM ET (13:14 GMT) as the company confirmed that activist hedge fund Starboard Value was making a $200 million investment in the company.
• Bristol-Myers Squibb (NYSE:BMY) stock jumped 1.92% after Bloomberg reported that Starboard has also taken a stake in the drug company. Celgene (NASDAQ:CELG), which Bristol-Myers is aiming to buy for over $74 billion, is down 1.58% amid fears Starboard will try to revise the deal terms in Bristol-Myers' favor.
• Clorox (NYSE:CLX) stock surged 5.23% after the company reported better-than-expected profit for its fiscal second quarter.
• General Electric (NYSE:GE) stock gained 0.59% after the company won a $517 million contract to build engines for the next generation of U.S. army helicopters.
• General Motors (NYSE:GM) stock rose 0.49% amid expectations that the company will begin another round of job cuts Monday, according to Detroit Free Press. Separately, GM said it was negotiating terms to invest about $2.7 billion in Brazil from 2020 to 2024.
• Goldman Sachs (NYSE:GS) stock dropped 0.27% after a weekend report in the Wall Street Journal that the company is considering withholding bonus payments from former CEO Lloyd Blankfein and others in relation to the scandal around its relationship with Malaysian wealth fund 1MDB.
• Spotify Technology (NYSE:SPOT) stock advanced 0.77% as Recode reported it's in advanced talks to acquire Gimlet Media for more than $200 million.
• Duke Energy (NYSE:DUK) stock rose 0.22% despite the fact that the company faces a record $10 million fine from federal authorities for failure to prevent physical and cyber attacks on national electricity systems, according to sources cited late Friday by The Wall Street Journal.
• Evolus (NASDAQ:EOLS) stock skyrocketed 22.48% after the U.S. Food & Drug Administration approved its treatment for frown lines. Prices are expected to be 20% to 25% lower than for rival Botox.