By Anna Hirtenstein
Trump Media & Technology $(DJT)$: The parent company of Trump's social media platform has been highly volatile in recent weeks, trading as a proxy for election expectations. The stock fell in premarket trading Monday, having lost over 20% of its value last week.
Nvidia $(NVDA)$: The chipmaker is set to join the Dow Jones Industrial Average this week, replacing Intel $(INTC)$. Paint manufacturer Sherwin-Williams $(SHW)$ will take Dow Inc. $(DOW)$'s place. The changes will come into affect ahead of Friday's market open. Shares of Nvidia and Sherwin-Williams rallied premarket; Intel and Dow fell.
Viking Therapeutics $(VKTX)$: Shares rose more than 20% offhours after the biotech company reported promising results from a trial of its experimental obesity pill. If successful, the pill could compete with weight-loss medications made by Novo Nordisk (NOVO.B), $(NVO)$ and Eli Lilly $(LLY)$, which have to be injected. Novo shares fell in Denmark; Eli Lilly stock was down in U.S. premarket trading.
Apple $(AAPL)$: Warren Buffett's Berkshire Hathaway cut its Apple holdings by about 25% last quarter, the conglomerate's report showed. Berkshire remained the iPhone maker's biggest shareholder.
Bank of America $(BAC.SI)$: Berkshire cut its position in the lender last quarter, and continued selling in October. It now holds less than 10%.
Boeing $(BA)$: The plane maker's union of machinists is set to vote Monday on a labor deal that would end a debilitating weeks-long strike if agreed.
BYD (HK: 1211), Li Auto (LI, HK: 2015) and Geely Automobile (HK: 175): Chinese EV makers reported robust October sales, fueling a rally in their shares in Asian trading.
The New York Times $(NYT)$: The newspaper's dispute with its technology staffers is reaching a breaking point, with a potential strike threatening to disrupt election coverage. Meantime, quarterly earnings are due early Monday.
B. Riley Financial $(RILY)$: The investment firm is a major shareholder of Franchise Group, which filed for bankruptcy Sunday amid a federal investigation. B. Riley stock fell nearly 18% in premarket trading.
Earnings from Loews (L), Marriott International $(MAR)$ and Fox $(FOX)$ are also scheduled for the morning. Palantir Technologies $(PLTR)$, American International $(AIG)$ and Diamondback Energy $(FANG.UK)$ are expected after the close.
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(END) Dow Jones Newswires
November 04, 2024 05:11 ET (10:11 GMT)
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