Stock Futures: Mergers, Netflix Earnings, D.C. Chaos Dominate Headlines | Stock News & Stock Market Analysis

Wall Street remained focused on the government shutdown early Monday, but it didn’t fuel much selling as Dow, S&P 500 and Nasdaq 100 futures showed modest losses of around 0.1% to 0.2%.

X The shutdown went into effect Saturday after the bill was voted down in the Senate. A main sticking point between Republicans and Democrats is an immigration bill sought by the Democrats. Another vote is scheduled today.

Meanwhile, all eyes are on Netflix (NFLX) ahead of its earnings report after the close. Q4 profit is seen jumping 173% to 41 cents a share. Netflix was featured in the latest Earnings Preview column, which highlights potential earnings options trades, but it’s not a great candidate because it’s extended after a breakout fr0m a base with a conventional entry at 204.48. Nonetheless, it’s showing strength, trading tightly and holding near highs ahead of the results.

It’s been a great start to the year, with the Nasdaq composite up 6.3% through Friday compared to a 9.4% gain for the IBD 50.

In merger news, two big biotech deals made headlines. Celgene (CELG) struck a deal to acquire Juno Therapeutics (JUNO) for about $9 billion. Shares of Juno soared 39% last week when news of a possible deal was first reported. Celgene will gain access to Juno’s promising pipeline of CAR-T cancer drugs, where a patient’s immune cells are manipulated to attack cancer.

Shares of Celgene eased 0.6% early Monday after falling 3% last week. Shares of Juno jumped 27%.

Meanwhile, shares of Bioverativ (BIVV) soared more than 60% after Sanofi (SNY) offered to buy the recent Biogen (BIIB) spinoff for around $11.5 billion. Bioverativ’s specialty is hemophilia and other blood disorders. Shares of Sanofi lost close to 4% in early trading.

Separately, American International Group (AIG) announced plans to buy Bermuda-based reinsurer Validus (VR) for around $5.5 billion. Shares of AIG were down nearly 2% before the opening bell, while Validus jumped 44%.


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Originally posted 2018-01-22 14:34:42.


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