Stock futures traded mostly higher Monday following a surge on Wall Street following strong U.S. payrolls data. Traders this week will be looking ahead to crucial inflation data from the world’s largest economy.
These stocks were poised to make moves Monday:
PacWest Bancorp
(PACW) was rising 34% in premarket trading after the regional lender said it was reducing its dividend. The bank, which saw its shares surge 82% on Friday, also said in a statement that its “business remains fundamentally sound.”
Occidental Petroleum
(OXY) was down 0.8% in premarket trading after
Berkshire Hathaway
(BRK.B) CEO Warren Buffett tamped down speculation that his conglomerate, which owns roughly 24% of
Occidental Petroleum
(OXY), wants to buy the entire company.
Berkshire Hathaway
was rising 1.5%. The company reported that operating profit after taxes rose 12.6% to $8.1 billion in the first quarter on higher investment income and increased insurance profit.
Dish Network
(DISH) was declining 3.4% after the telecommunications company’s first-quarter revenue fell more than expected.
Dish
also said pay-TV subscribers in the first quarter fell by a net 552,000.
American Airlines
(AAL) was up 3% in premarket trading after receiving an upgrade to Overweight from Neutral at J.P. Morgan, while
Southwest Airlines
(LUV) was falling 1.1% after analysts at the firm downgraded the stock to Neutral from Overweight.
AMC Entertainment
(AMC) was down 4.9% in premarket trading after the movie theater chain said it reached an agreement to settle a putative stockholder class action over converting AMC Preferred Equity Units (APE) into common shares, and a proposed 10-to-1 reverse stock.
BioNTech
(BNTX), and
Tyson Foods
(TSN) will be reporting earnings before Wall Street opens Monday, while
PayPal
(PYPL),
Skyworks Solutions
(SWKS),
Palantir Technologies
(PLTR),
Western Digital
(WDC), and
Lucid
(LCID) are scheduled for after the closing bell.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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