Stock futures pointed to a lower start for Wall Street on Monday as disappointing data from China, the world’s second-biggest economy, raised concerns about global growth. Traders also geared up for a busy week of corporate earnings.
These stocks were poised to make moves Monday:
Tesla
(TSLA) was rising 1.7% in premarket trading after the electric-vehicle maker’s first Cybertruck rolled off the assembly line over the weekend. The truck was first introduced in 2019 but production had been delayed repeatedly because of supply-chain issues, the company said.
Shares of
United Airlines
(UAL) rose 0.3% after the airline and its pilots’ union reached a contract agreement that includes increases in pilot pay of up to 40% over four years.
Microsoft
(MSFT) and
Sony
agreed to keep
Activision Blizzard’s
(ATVI) Call of Duty videogame on
Sony’s
PlayStation system after
Microsoft
completes its acquisition of
Activision.
Sony has been opposed to the Microsoft-Activision merger, citing concerns that Microsoft would keep Call of Duty exclusive to its Xbox system. The Wall Street Journal reported that Sony confirmed a 10-year agreement had been reached. Microsoft shares rose 0.3%, U.S.-listed Sony rose 0.1%, and Activision jumped 4.3%.
Chewy
(CHWY) rose 4.6% to $39.72 in premarket trading. Shares of the online pet goods retailer were raised to Buy from Neutral by analysts at
Goldman Sachs,
and the price target was boosted to $50 from $39.
Earnings reports are expected this week from
Bank of America
(BAC),
Morgan Stanley
(MS),
Lockheed Martin
(LMT),
Tesla
(TSLA),
Netflix
(NFLX),
Goldman Sachs
(GS),
International Business Machines
(IBM),
Johnson & Johnson
(JNJ),
Philip Morris
(PM),
United Airlines
(UAL),
American Airlines
(AAL), and
American Express
(AXP).
Write to Joe Woelfel at [email protected]
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