Stock futures rose Monday following the worst week on Wall Street this year.
These stocks were poised to make moves Monday:
(SGEN) was rising 12.5% in premarket trading to $181.30 following a report from The Wall Street Journal that said
(PFE) was in discussions to acquire the biotechnology company in a deal that could be worth more than $30 billion. The talks are still at an early stage and there is no guarantee of a transaction, the Journal reported, citing people familiar with the matter. Pfizer declined 1.9%.
American depositary receipts of
(LI) gained 4.5% after the Chinese electric-vehicle company’s fourth-quarter earnings beat analysts’ estimates and said it expects first-quarter deliveries to rise as much as 73% from a year earlier.
(UNP) rose 5.8% after saying it plans to name a new chief executive this year, following pressure from New York hedge fund Soroban Capital Partners to oust Lance Fritz from the job. “The board is seeking a CEO with a strong track record of success and expertise across safety, operational excellence, enhancing and driving customer service, innovation, employee culture and sustainability,” Union Pacific said in a statement.
The $5.4 billion acquisition of TV broadcaster
(TGNA) by hedge fund Standard General will be examined by an administrative law judge, according to the Federal Communications Commission. Tegna shares dropped 22.4% in premarket trading.
(BRK.B) was down slightly after operating earnings declined 8% in the fourth quarter to $6.7 billion, hurt by a drop in profit at the company’s railroad business and a decline in the U.S. dollar.
Earnings reports are expected after the closing bell Monday from
Zoom Video Communications
Write to Joe Woelfel at firstname.lastname@example.org