Stocks – Bed Bath & Beyond Surge in Premarket; BP Falls

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© Reuters. © Reuters. – Stocks in focus in premarket trading on Monday:

• Simon Property Group (NYSE:) stock slipped 0.3% in premarket trade by 8:20 AM ET (12:20 GMT) after its seventh-largest tenant, Forever 21, said it was filing for bankruptcy.

• CVS Health (NYSE:) stock was in focus, after it announced it had stopped selling Sanofi’s (NASDAQ:) Zantac products due to a safety alert by the U.S. Food and Drug Administration that the drug could contain low levels of human carcinogens. Sanofi (PA:) fell 0.6%.

• Blackstone (NYSE:) stock gained 0.7% on news that it is acquiring Colony Industrial for $5.9 billion.

• Bed Bath & Beyond (NASDAQ:) stock surged 4.4% after Wedbush upgraded the company to outperform, citing optimism that earnings will improve over the next few years.

• BP (NYSE:) stock was down 0.3% after Sky News reported that the company is preparing to announce the retirement of its CEO Bob Dudley.

•Credit Suisse (NYSE:) ADRs rose 1.2% on reports that the bank’s board is set to back CEO Tidjane Thiam over accusations that he ordered investigators to spy on a key lieutenant who defected to rival UBS Group (NYSE:).

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