Stock futures pointed higher Monday, extending gains after the
closed Friday at an all-time high, breaking a streak of more than 500 trading sessions without a new record, as tech shares rallied. The
also closed at a record.
and
said they would appeal a federal judge’s decision that blocked the $3.8 billion merger of the airlines. The airlines said the process was “consistent with the requirements of the merger agreement.” Spirit shares were rising 4.3% in premarket trading. They jumped 17% on Friday after the budget carrier tried to reassure investors with an update that said it expects fourth-quarter revenue at the high end of its initial guidance and that bookings over the holiday period were strong.
announced Sunday that it was cutting about 16% of its global workforce, or roughly 900 employees. “We have made a very difficult, but necessary decision to implement a workforce reduction and other cost-cutting measures in order to align our cost structure with the rapidly changing market dynamics,” said CEO Zvi Lando said in a statement. Shares of the Israel-based solar equipment maker have dropped 26% this year and 77% over the past 12 months. In early November, the company issued a weak revenue outlook, citing a slump in demand. The stock rose 6.9%.
was down 9.4% after the agriculture company put its chief financial officer, Vikram Luther, under administrative leave pending an investigation by outside counsel for the company and the board’s audit committee “regarding certain accounting practices and procedures with respect to ADM’s Nutrition reporting segment.”
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rejected an unsolicited bid to take the department-store retailer private from Arkhouse Management and Brigade Capital Management. In a statement,
said the bidders failed to address the board’s concerns regarding financing the $5.8 billion deal, adding that there was “the lack of compelling value” in the non-binding proposal from Arkhouse and Brigade Capital. Arkhouse threatened to “pursue all necessary steps,” including taking its offer directly to shareholders. Macy’s rose 2%.
said email accounts of some of the software company’s senior leadership team have been accessed by hackers backed by the Russian government, allowing them to read some email messages and attached documents. Microsoft said it “detected a nation-state attack on our corporate systems” on Jan. 12 “and immediately activated our response process to investigate, disrupt malicious activity, mitigate the attack, and deny the threat actor further access.” The company identified the “threat actor” as Midnight Blizzard, “the Russian state-sponsored actor also known as Nobelium.” Microsoft was up 0.3% in premarket trading.
Earnings reports are expected Monday after the stock market closes from
and
Logitech
.
Reports are expected later in the week from
Netflix
,
Verizon
,
Tesla
,
AT&T
,
International Business Machines
,
Comcast
,
Visa
,
Intel
,
and
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Write to Joe Woelfel at [email protected]
