Boeing, Evergrande, SoFi, Microsoft, Apple, McGrath RentCorp, and More Movers
Stock futures pointed mostly higher Monday ahead of a busy week filled with earnings from the likes of tech giants
and
Apple
,
a policy meeting of the Federal Reserve, and the monthly U.S. jobs report.
Boeing
’s
737 MAX 9 jet resumed service, about three weeks after the Federal Aviation Administration grounded the aircraft following the midair blowout of an emergency door plug on an
flight. Alaska Air resumed flying the aircraft on Friday after inspections were completed. A United Airlines flight from Newark, N.J., to Las Vegas flew Saturday on a MAX 9.
shares were up 0.7% in premarket trading. The stock has fallen about 17% since the grounding.
Chinese property developer
Group has been ordered into liquidation more than two years after its debt struggles kicked off a crisis in the Chinese property sector. The company was ordered to liquidate with more than $300 billion in liabilities by a Hong Kong court on Monday, having failed to deliver on a restructuring plan as intended after a court reprieve in December.
was once China’s biggest property developer by sales. Shares of the company have declined 90% over the past 12 months.
Earnings reports are expected Monday from
Nucor
,
F5 Inc.
,
and
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SoFI, the financial-technology company, is forecast by analysts to report break-even fourth-quarter earnings on revenue of $572 million. The company previously has said it expects to report its first profit under generally accepted accounting principles in the last three months of 2023. The stock rose 5.5% ahead of the report.
Reports are expected later in the week from
Apple
,
Alphabet
,
Boeing
,
Pfizer
,
Merck
,
Chevron
,
Qualcomm
,
Altria
,
and
Philips
,
the Dutch maker of Sonicare toothbrushes and Norelco shavers, said it would halt the sales of new sleep-therapy devices in the U.S. until the terms of a consent decree with the Food and Drug Administration have been met. The company said it recorded a $393 million provision in the fourth quarter for “remediation activities, inventory write-downs and onerous contract provisions” related to the consent decree. U.S.-listed shares of Philips declined 6.6%.
confirmed it was acquiring
for $3.8 billion in a tie-up up of portable-building companies. McGrath shareholders will receive for each of their shares either $123 in cash or 2.8211 shares of WillScot Mobile Mini common stock under terms of the cash-and-stock deal. WillScot Mobile fell 0.7% and
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rose 10.4% to $123.40.
Shares of
were rising 1.5% to $15.36 after shares of the carrier were upgraded to Buy from Neutral at
and the price target was raised to $20 from $14. The airline last week issued guidance for 2024 that was above Wall Street estimates.
Write to Joe Woelfel at [email protected]
…
Read More: Boeing, Evergrande, SoFi, Microsoft, Apple, McGrath RentCorp, and More Movers