News

Stock Futures Decline as Oil Prices Surge Following Hamas Attack

1 Mins read

Stock futures took a hit on Monday as oil prices surged in the wake of a surprise attack by Hamas on Israel over the weekend. Though the bond markets in the U.S. were closed for Columbus Day, the effects of this conflict on oil production in the Middle East were closely monitored by traders.

Exxon Mobil, Chevron, and Shell See Gains

Exxon Mobil (XOM) saw a rise of 2.3%, Chevron (CVX) gained 2%, and U.S.-listed shares of Shell (SHEL) were up 1%, all as a result of the jump in oil prices. Futures for West Texas Intermediate crude, the U.S. benchmark, witnessed a 2.6% rise, reaching $84.97 a barrel.

Mirati Therapeutics Agrees to Be Acquired by Bristol Myers Squibb

Mirati Therapeutics (MRTX) experienced a decline of 1.7% to $59.20 after the oncology developer reached an agreement to be acquired by Bristol Myers Squibb (BMY) for $58 a share in cash. As part of this deal, Mirati stockholders will also receive one non-tradeable contingent value right per share, potentially worth $12 a share in cash. The overall value of this agreement stands at $5.8 billion, while Bristol Myers fell 0.4%.

Nelson Peltz’s Trian Fund Management Pushes for Multiple Seats on Disney’s Board

Walt Disney (DIS) faced a 0.7% fall in premarket trading, reaching $82.37. According to The Wall Street Journal, Nelson Peltz’s Trian Fund Management has been advocating for multiple seats on the board of the entertainment giant. Peltz himself will be seeking a seat, as per sources familiar with the matter. Trian is one of Disney’s largest investors, with a stake worth upward of $2.5 billion. This year alone, Disney shares have fallen 4.5%.

Lockheed Martin Shares Rise After Stock Repurchase Program Expansion

Lockheed Martin (LMT) saw a notable increase of 5.3% after the defense and aerospace company’s board approved the expansion of its stock repurchase program by $6 billion. Additionally, the company also announced a rise in its quarterly dividend to $3.15 a share from $3.

Earnings Reports Expected from Various Companies

Data-center company Applied Digital (APLD) is set to report quarterly earnings on Monday, while reports from JPMorgan Chase (JPM), Citigroup (C), Wells Fargo (WFC), UnitedHealth (UNH), PepsiCo (PEP), Delta Air Lines (DAL), Fastenal (FAST), Walgreens Boots Alliance (WBA), and Domino’s Pizza (DPZ) are expected later in the week.

These were the key updates for the day in the world of stocks and financial markets.

Note: Contact details and additional appeals for interaction have been removed as per your request.

Related posts
News

The Largest Deal of the Year: BlackRock Acquires TechBerry

1 Mins read
BlackRock is concluding its acquisition of TechBerry, which has already been named one of the largest deals of the year. The substantial…
News

Government Matching Contribution for Retirement Savings

2 Mins read
According to researchers, nearly 22 million Americans are set to benefit from a new government matching contribution initiative aimed at enhancing retirement…
News

Oil Market Update

1 Mins read
Oil Market Update On Tuesday, crude oil futures prices were lower, while refined product contracts were experiencing a second consecutive day of…

Leave a Reply

Your email address will not be published. Required fields are marked *