BP, AerCap Fall Premarket; Renewable Energy, First Horizon Rise

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BP, AerCap Fall Premarket; Renewable Energy, First Horizon Rise
Credit: © Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, February 28th. Please refresh for updates.

  • BP (LON: BP ) (NYSE: BP ) ADRs fell 7.9% after the energy giant announced its intention to exit from its stake of around 20% in Russia’s Rosneft (OTC: OJSCY ), a decision that it said could cost around $25 billion.

  • Renewable Energy (NASDAQ: REGI ) stock soared 38% after oil major Chevron (NYSE: CVX ), up 0.29%, announced plans to buy the biodiesel maker in a deal valued at $3.15 billion.

  • L3Harris Technologies (NYSE: LHX ), Raytheon (NYSE: RTN ) Technologies (NYSE: RTX ), Lockheed Martin (NYSE: LMT ), General Dynamics (NYSE: GD ) and Northrop Grumman (NYSE: NOC ) stocks all jumped by at least 4%, with these defense companies boosted by the news that Germany plans to dramatically increase its military spending.

  • First Horizon (NYSE: FHN ) stock rose 32% after Canadian TD Bank announced plans to buy the U.S. lender in an all-cash deal valued at $13.4 billion to expand its footprint in the United States.

  • AerCap (NYSE: AER ) stock fell 5.5% after the world’s biggest aircraft leasing firm said it will halt leasing to Russia, a region which usually leases around 5% of its fleet.

  • ViaSat (NASDAQ: VSAT ) stock will be in focus after the satellite communications firm said it was investigating a suspected cyberattack that caused a partial outage in its residential broadband services in Ukraine and other European countries.

  • Nielsen (NYSE: NLSN ) stock rose 8.14% after the TV ratings firm reported stronger than expected quarterly earnings, issued an upbeat full-year forecast and announced a $1 billion share repurchase program.

  • Block (NYSE: SQ ) stock fell 1.6%, outperforming the wider market, after BMO Capital Markets upgraded its stance on the fintech company to “outperform” from “market perform,” seeing more than 30% upside.

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