Stock Futures Edge Lower; Dr. Pepper Surges, Wynn Resorts Falls Again | Stock News & Stock Market Analysis

Dow, S&P 500 and Nasdaq 100 futures were under a bit of pressure early Monday, with losses ranging from 0.2% to 0.4%, as mergers and weakness in China stocks made early headlines.

Money flowed out bonds, sending the 10-year Treasury yield higher by 6 basis points to 2.72%.

Shares of Sanofi (SNY) were indicated lower by nearly 2% after the company announced plans to acquire Belgium biotech Ablynx for around $4.8 billion. Sanofi outbid Novo Nordisk (NVO) for the rights to a potential blockbuster drug to treat a rare blood-clotting disease.

The news comes after Sanofi just recently struck a deal to acquire Biogen (BIIB) spinoff Biovertativ (BIVV) for $11.6 billion.

Elsewhere, shares of Dr. Pepper Snapple (DPS) surged around 40% on news its merging with Keurig Green Mountain in a deal valued at around $11 billion.

Meanwhile, several China-based internet stocks were indicated lower amid losses for Asian bourses overnight. The Shanghai composite lost 1% while the Hang Seng gave back around 0.6%.

Another headline fueled negative sentiment in China. Shares of Weibo (WB) slumped 4% in premarket trading after the Chinese government ordered the company to move several of its portals offline temporarily due to obscene content.

IBD 50 names Alibaba (BABA) and Sina (SINA) were poised for slightly lower opens. Alibaba’s earnings report is due Thursday before the open.

Wynn Resorts (WYNN) extended losses after Friday’s 10% drop in heavy volume.  Friday’s weakness was fueled by a Wall Street Journal report that detailed allegations of sexual misconduct by CEO Steve Wynn. Shares fell another 3% early Monday after Wynn said he would resign from his post as finance chief of the Republican National Committee.


Wynn Dives As CEO Faces Sexual Misconduct Claims; Mass. Eyes Action

Best Stocks To Buy And Watch

How To Invest In The Stock Market Using A Simple Routine

Source link

Originally posted 2018-01-29 15:17:37.


No comments.

Leave a Reply

error: Content is protected !!