Following the strongest week of advances for the S&P 500 and Nasdaq Composite indexes since early November, stock futures saw an increase on Monday.
The following stocks are expected to move on Monday:
* Tesla (TSLA):* Increased 13% on CEO Elon Musk’s unannounced weekend trip to China. He worked to grant Chinese Tesla owners access to new driving assistance features. The Wall Street Journal has reported that Tesla’s proposal to introduce its “Full Self-Driving,” or FSD, software function in China has received preliminary approval from Chinese authorities. A 5.3% increase in Baidu’s U.S.-listed shares resulted from Tesla and China’s Baidu collaborating on autonomous-driving technologies based on mapping and navigation features.
**Alphabet (GOOGL):** Premarket trade saw a 1.4% decrease to $169.54. After climbing 10% on Friday, Google’s parent company now has a $2.13 trillion market valuation. Alphabet became just the fourth American business to reach this milestone when it closed for the first time at a valuation of more than $2 trillion. The gains came after the company’s first dividend and better-than-expected results and a well-received new capital allocation plan.
**SoFi Technologies (SOFI):** Increased its fiscal-year outlook, reported its second consecutive profitable quarter, and outperformed revenue estimates. The financial technology company’s stock fell 3.1%.
** Paramount Global ** was up 5.5% in response to rumors that the board of the entertainment company was thinking of ousting CEO Bob Bakish. This is happening while Paramount looks into a possible sale. According to speculations, Bakish might be let go or step down as soon as Monday. On Monday, Paramount is also expected to release its quarterly financial results.
**Fulton Financial:** The Federal Deposit Insurance Corp. announced that subsidiary Fulton Bank would take over the deposits of faltering lender Republic First Bancorp. Following the seizure of the ailing regional bank by Pennsylvania state banking regulators, Fulton purchased Republic First Bancorp, jumping 12% in premarket trading. This year’s first bank failure in the United States is Republic First Bancorp.
** Domino’s Pizza:** increased 6.8% on the release of first-quarter revenue and earnings that exceeded Wall Street predictions.
**Intellectual Property:** declared adjusted first-quarter profits per share of $1.08, over $1.04 predicted. $1.86 billion in revenue also exceeded Wall Street expectations. Nonetheless, the second-quarter guidance for earnings was below forecast. Stock increased by 1.2%.
On Monday, following the closing bell, it is anticipated that NXP Semiconductors, F5, MicroStrategy, Chegg, and Logitech International will release their financial reports.
The following companies are expected to release their earnings later this week: Apple (AAPL), Amazon.com (AMZN), GE HealthCare Technologies, Advanced Micro Devices, Coca-Cola, Eli Lilly, Novo Nordisk, McDonald’s, Starbucks, PayPal, 3M, Super Micro Computer, DoorDash, Kraft Heinz, Zillow, Fastly, DuPont, eBay, First Solar, ConocoPhillips, Amgen, Coinbase Global, Block, and Hershey.
SOURCE : https://www.barrons.com/articles/stock-market-movers-4c54f840
