Stock futures were mostly flat Monday, kicking off a week that includes the election for U.S. president and and a decision on interest rates from the Federal Reserve.
These stocks were poised to make moves Monday:
NVIDIA Corp was rising 2.3% in premarket trading after it was announced Friday that the chip maker, which has experienced a demand surge for its graphics processing units to power artificial-intelligence applications, would be replacing fellow semiconductor company Intel in the Dow Jones Industrial Average, prior to the opening of trading on Nov. 8. Nvidia is the second-largest U.S. company by market value at $3.3 trillion, just behind DJIA member Apple, which fell 0.5% in premarket trading after it was revealed Warren Buffett's Berkshire Hathaway sold 100 million shares of the iPhone maker, reducing its stake by 25% to 300 million shares.
It also was announced Friday by S&P Dow Jones Indices, which oversees the blue-chip index, that Sherwin-Williams would be added to the DJIA, replacing chemicals maker Dow Inc. Shares of paints maker Sherwin-Williams rose 4.5% in premarket trading while Dow Inc.declined 1.5%.
Berkshire Hathaway, meanwhile, was down 0.3% as third-quarter after-tax operating earnings fell 6% to $10.1 billion in the third quarter from $10.8 billion a year earlier. The conglomerate didn't buy back any of its stock in the third quarter and its cash and equivalents rose $48 billion in the third quarter to a record $325 billion.
Striking machinists at Boeing will be voting Monday on the plane maker's new contract offer that includes wage increases of more than 40% compounded over four years and a $12,000 ratification bonus. The new deal is Boeing's fourth offer. The vote Monday -- with results expected by about 10 p.m. Eastern time -- will be the third time taken by employees. The strike started on Sept. 13. Boeing shares rose 0.4%.
Shares of Trump Media & Technology were down 6% after the stock tumbled 14% on Friday. Trump Media owns the Truth Social platform and is majority-owned by former president Donald Trump. The election for U.S. president is Tuesday and polls show the race between Trump and Vice President Kamala Harris remains tight.
Talen Energy Corp was down 14% after the Federal Energy Regulatory Commission rejected an amended interconnection service agreement in Pennsylvania for an Amazon data center with a nuclear power plant run by the power producer. Shares of energy companies helping to supply power to data centers also were falling in premarket trading: Constellation Energy Corp was down 7% and Vistra Energy Corp. declined 6.4%.
Viking Therapeutics surged 23% after a clinical trial of its experimental oral weight-loss pill showed promising results. A study of VK2735 among obese adults found those taking a 100-milligram dose lost an average 8.2% of their body weight after 28 days. Eli Lilly, down 2.1%, and Novo Nordisk, down 1%, also are working to develop a weight-loss pill.
Earnings reports are expected Monday from Palantir Technologies Inc., Vertex Pharmaceuticals, Constellation Energy Corp, Zoetis, NXP Semiconductors NV, Marriott, Diamondback Energy, BioNTech SE, Wynn, and Illumina.
Reports are expected later in the week from Qualcomm, Novo-Nordisk A/S, ARM Holdings Ltd, CVS Health, Moderna, Inc., DuPont de Nemours Inc, SUPER MICRO COMPUTER INC, Gilead Sciences, Marathon Petroleum, Zillow, Arista Networks, Airbnb, Inc., Cloudflare, Inc., Halliburton, Pinterest, Inc., Expedia, Warner Bros. Discovery, DraftKings Inc., and Paramount Global.
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