Stock futures were rising Monday after the
Dow Jones Industrial Average
and
S&P 500
posted back-to-back weekly losses. Debt-ceiling talks this week will be a focus for Wall Street.
These stocks were poised to make moves Monday:
Newmont
(NEM) was falling 0.4% in premarket trading after agreeing to acquire Australian gold and copper miner
Newcrest
Mining for $17.5 billion. The takeover would cement Newmont (ticker: NEM) as the world’s largest producer of gold. Newcrest shares rose 1.5% in Australia trading.
Oneok
(OKE) reached an agreement to buy
Magellan Midstream Partners
(MMP) in a cash-and-stock deal with a value of about $18.8 billion including debt. The merger would create one of the largest companies in the U.S. for transporting oil and natural gas. The deal price represents a 22% premium to
Magellan
‘s closing price Friday of $55.41. In premarket trading, Magellan was rising 8.4% to $60.04. Oneok fell 5%.
Shake Shack
(SHAK) was rising 3.7% after The Wall Street Journal reported that Engaged Capital, which has a roughly 6.6% stake in the burger chain, was planning to run a proxy fight for three board seats at the company.
NeoGames
(NGMS), which provides iLottery solutions for national and state lotteries, surged 120% to $28.30 after Australia’s
Aristocrat Leisure,
a developer of mobile and casino games, agreed to buy the company for $29.50 a share in cash.
Charles Schwab
(SCHW) was upgraded to Outperform from Market Perform at Raymond James. The stock gained 1.9%. On Friday, the brokerage said client assets rose in April.
Monday.com
(MNDY),
Catalent
(CTLT),
Tower Semiconductor
(TSEM), and
Freyr Battery
(FREY) are among companies scheduled to report quarterly earnings Monday.
Reports are expected later in the week from
Walmart
(WMT),
Home Depot
(HD),
Alibaba
(BABA),
Baidu
(BIDU),
Cisco Systems
(CSCO),
Target
(TGT),
TJX Cos.
(TJX),
Applied Materials
(AMAT), and
Deere
(DE).
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