All three major US stock indexes were down in late morning trading Monday, as interest rates and oil prices rose.

In company news, Chevron's (CVX) Canadian unit said Monday it has agreed to sell its 20% non-operated interest in the Athabasca Oil Sands Projects and a 70% operated interest in the Duvernay shale to Canadian Natural Resources (CNQ) for $6.5 billion in cash. Shares of Chevron were up 0.6% around midday, while those of Canadian Natural Resources were up 3.4%.

Barnes Group (B) on Monday agreed to be acquired and taken private by funds managed by affiliates of Apollo Global Management (APO) in a deal valuing the industrial company at about $3.6 billion. Barnes stockholders will receive $47.50 per share in cash. Shares of Barnes Group were up 2.7%, while those of Apollo were down 0.5%.

Rio Tinto (RIO) has made a non-binding approach to acquire Arcadium Lithium (ALTM), the companies said Sunday. Financial terms were not disclosed. Rio Tinto shares were down 0.5%, while those of Arcadium were up past 30%.

Pfizer (PFE) may become the target of a shareholder campaign led by activist Starboard Value, which has taken a $1 billion stake in the company, according to media reports. Starboard wants to improve Pfizer's performance and has already approached former Chief Executive Ian Read and former Chief Financial Officer Frank D'Amelio about potentially rejoining the company, Reuters reported. Pfizer shares were up 3.1%.

Equinor (EQNR) said Monday it has acquired 41.2 million shares of Orsted, a 9.8% stake, for $2.5 billion, making it the second largest investor in the offshore wind energy company after the Danish state. Equinor shares were down 3.1%.

BP (BP) has scrapped its goal to cut oil and gas output by 2030 in an attempt to regain investor confidence, Reuters reported Monday, citing three sources with knowledge of the matter. BP originally announced in 2020 its plan to reduce production by 40%, but in 2023, it lowered its 2030 target to 25%, the report said. BP shares were up 0.7%.

Price: 151.62, Change: +0.88, Percent Change: +0.58