Investing.com - Stocks in focus in premarket trade Friday:
• Anadarko Petroleum (NYSE:APC) stock surged 32.0% by 8:14 AM ET (12:14 GMT) after Chevron announced it would buy the company for $33 billion in cash and stock. Shares in Chevron (NYSE:CVX) were off 3.8%.
• JP Morgan (NYSE:JPM) stock jumped 2.8% after the company reported record first-quarter revenue and profit, beating expectations.
• Walt Disney (NYSE:DIS) stock rose 3.3% after the company announced the launch date for its new streaming service. It has priced its offer below Netflix's (NASDAQ:NFLX) basic fee. Netflix shares fell 1.1% on the news.
• Boeing (NYSE:BA) stock advanced 1.4% as Chief Executive Officer Dennis Muilenburg said that software updates for its 737 MAX were successful in 96 test flights.
• Wells Fargo (NYSE:WFC) stock traded up 2.1% as first-quarter results beat on the top and bottom lines.
• Tesla (NASDAQ:TSLA) stock gained 0.2% after the company said it has started taking orders in China for a lower-priced version of its Model 3 car.
• PNC Financial (NYSE:PNC) stock inched up 0.1% as first-quarter revenue came in slightly above expectations and profit settled in line with consensus.