Chevron Corp.'s stock (CVX) edged up 0.2% in premarket trade Monday, and was the only Dow Jones Industrial Average component gaining ground ahead of the open, after Anadarko Petroleum Corp. (APC) confirmed Occidental Petroleum Corp. (OXY)raised the cash portion ( ) of its rival buyout bid, which Anadarko said last week could represent a "superior proposal ( )" to Chevron's bid ( ). Chevron's stock had shed 6.9% since the deal to buy Anadarko was announced through Friday, while the S&P 500 has gained 2.0%. All of the other 29 Dow stocks were falling, as Dow futures tumbled 473 points.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 06, 2019 08:01 ET (12:01 GMT)
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