Stock futures traded mostly to the upside Monday ahead of a busy week filled with earnings from the likes of tech giants Microsoft and Apple, a policy meeting of the Federal Reserve, and the monthly U.S. jobs report.
These stocks were poised to make moves Monday:
Ark’s flagship exchange-traded fund, the Ark Innovation ETF (ARKK), and the Ark Next Generation ETF (ARKW) accumulated 182,541 Tesla shares Friday. At Friday’s close of $183.25, the purchase is valued at $33.45 million. Tesla shares climbed 1.3% in premarket trading Monday.
Royal Philips NV is suspending sales of sleep apnea devices and ventilators in the US after reaching an agreement with the US Food and Drug Administration over its faulty medical equipment. The shares fell as much as 6%.
SoFi, the financial-technology company, is forecast by analysts to report break-even fourth-quarter earnings on revenue of $572 million. The company previously has said it expects to report its first profit under generally accepted accounting principles in the last three months of 2023. The stock rose 5% ahead of the report.
Reports are expected later in the week from Microsoft, Apple, Amazon.com, Alphabet, Meta Platforms, Advanced Micro Devices, Boeing, Pfizer, Merck, Exxon Mobil, Chevron, United Parcel Service, General Motors, Starbucks, Novo Nordisk, Bristol Myers Squibb, Mastercard, Qualcomm, Honeywell, Altria, and Royal Caribbean.
Boeing’s 737 MAX 9 jet resumed service, about three weeks after the Federal Aviation Administration grounded the aircraft following the midair blowout of an emergency door plug on an Alaska Air flight. Alaska Air resumed flying the aircraft on Friday after inspections were completed. A United Airlines flight from Newark, N.J., to Las Vegas flew Saturday on a MAX 9. Boeing shares were up 0.3% in premarket trading. The stock has fallen about 17% since the grounding.
Willscot Mobile Mini Holdings is nearing a deal of more than $3 billion to acquire McGrath RentCorp in a tie-up up of portable-building companies, the Journal reported. The cash-and-stock deal is expected to be unveiled Monday, the Journal said, citing people familiar with the matter.
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