Shares of UFC owner Endeavor, Teck Resources and Life Storage climb on M&A news, while Tesla slips

Shares of Endeavor Group Holdings Inc. EDR, -0.59% are up 6% after the parent of the mixed martial-arts organization UFC said it has agreed to combine with World Wrestling Entertainment WWE, -4.67% to form a new, publicly listed company, with a combined enterprise value of $21.4 billion. WWE shares are down over 4%.

Stock in Ovintiv Inc. OVV, +8.62% is up over 5% after the hydrocarbon exploration and production company said it would buy assets from a trio of companies for about $4.275 billion in cash and stock.

Life Storage Inc. LSI, +2.87% shares are up over 4% after the real-estate investment trust said rival Extra Space Storage Inc.  EXR, -5.79% has agreed to take it over in an all-stock deal that will create an entity with an enterprise value of $47 billion. Extra Space shares are down 2%.

PPG Industries Inc. PPG, +4.75% shares are up nearly 3% after the global supplier of paints, coatings and specialty materials raised its first-quarter adjusted estimate to above Wall Street forecasts.

Stock decliners:

Shares of Stratasys Ltd.  SSYS, -3.87% fell 7% after the 3D-printing company said that it’s board of directors had unanimously rejected an unsolicited takeout offer from Nano Dimension last week.

Tesla Inc. TSLA, -5.01% stock is down 2% in premarket trading after the electric-vehicle maker said it delivered 422,875 vehicles in the first quarter, which was shy of the 432,000 analysts had predicted.