Twitter (TWTR)

Twitter shares jumped 5% in premarket trading amid reports that the social media giant is close to a deal with Elon Musk. On Sunday, the company’s board met to discuss a takeover bid from Elon Musk, who has already secured $46.5 billion in financing.

Kellogg (K)

Shares of Kellogg fell 1.8% in the premarket action after Deutsche Bank downgraded the stock to hold. The bank said the impact of workers’ strikes, rising inflation and supply chain disruptions are among the reasons for the downgrade.

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Coca-Cola (KO)

Shares of Coca-Cola surged nearly 1% in premarket after the company beat market expectations on the top and bottom lines in the first quarter of 2022. The beverage giant posted adjusted earnings of 64 cents per share on revenues of $10.5 billion against analysts’ expectation of 58 cents per share on $9.83 billion in revenue.

Oil stocks

Shares of energy firms slipped on Monday premarket as oil prices fell amid fears of a global slowdown and lockdown in China. Chevron fell 2.2%. ConocoPhillips dipped 2.6% and Marathon Oil fell 2.8%.

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Verizon (VZ)

Verizon shares dipped 1% after Goldman Sachs downgraded the stock to neutral. According to the bank, Verizon is well-positioned for 5G growth, but its potential return is lower than that of peers such as AT&T.

Penn National Gaming (PENN)

Shares of the gaming company grew 2.8% in premarket after Morgan Stanley put it under buy despite its recent weak performance. The bank sees opportunities in its Barstool Sports and the Score businesses.

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Warner Bros. Discovery (WBD)

The stock fell 2.5% in the premarket trading as investors received the news that the company would shutter its CNN+ service weeks after its launch.

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Deere (DE)

Shares of the equipment manufacturer’s stock slipped 3.4% after Bank of America downgraded the stock to neutral. The bank said it is cautious about the farm economy and agricultural equipment sector amid ongoing supply chain issues and other macro trends.