Stock futures rose Monday as investors prepared for a busy week filled with U.S. inflation data and meetings from global central banks, including an interest-rates decision from the Federal Reserve.
These stocks were poised to make moves Monday:
American depositary receipts of
NIO
(ticker:
NIO
) rose 4.4% even as Wall Street cut price targets on shares of the Chinese electric-vehicle maker after it reduced prices for its vehicles.
Nasdaq
(NDAQ, the operator of the stock exchange, said it was buying software company Adenza for $10.5 billion in cash in shares. Nasdaq shares declined 7.5%.
Carnival
(CCL) gained 5.6% after the cruise company received an upgrade to Buy from Neutral from analysts at BofA, and an upgrade to Overweight from Neutral at
J.P. Morgan.
SentinelOne
(S) was upgraded to Overweight from Equal Weight at
Morgan Stanley
and the price target was raised to $20 from $15. Shares of the cybersecurity company jumped 5.5% in premarket trading to $15.35.
Oracle
(ORCL) is scheduled to report fiscal fourth-quarter earnings after the stock market closes Monday. Shares of the software giant were upgraded to Outperform from Peer Perform at Wolfe Research ahead of the report. The stock was up 4.7%.
Chinook Therapeutics
(KDNY), a biopharmaceutical company focused on treatments for kidney diseases, reached an agreement to be acquired by
Novartis
(NVS) for $40 a share in cash, or a total of $3.2 billion. Chinook shares closed Friday at $23.99, and were rising 66% in premarket trading to $39.75.
Biogen
(BIIB) was rising 3.3% in premarket trading after a committee of expert advisors to the Food and Drug Administration said the biotech company and partner Eisai have proven the efficacy of their Alzheimer’s drug Leqembi, voting six to zero to recommend approval of the treatment.
Illumina
(ILMN) said CEO Francis deSouza resigned as the gene sequencing company fights regulators over its deal to acquire cancer test maker Grail. The acquisition also triggered a proxy battle with activist investor Carl Icahn.
Illumina
shares gained 3%.
Salesforce
(CRM) CEO Marc Benioff will be hosting “Salesforce AI,” a 90-minute live-streamed event that starts at 1:30 p.m. Eastern time. Evercore ISI analyst Kirk Materne said he expects a focus on data cloud and trust elements at the event. The stock rose 0.8% in premarket trading.
Write to Joe Woelfel at [email protected]
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