In anticipation of a meeting of the Federal Reserve later this week, stocks look like they will open higher on Monday. Ongoing fears about interest rates caused the major averages to move lower last week. These are the stocks to watch this Monday:
Stocks to watch
- Microsoft (NASDAQ:MSFT) and the London Stock Exchange have partnered for the long term, and as part of the agreement, Microsoft will own 4% of the equity in the financial exchange. A 10-year business agreement to move the London Stock Exchange data platform to the cloud was also signed as part of the agreement with Microsoft. According to the release, Microsoft will purchase its interest from a group that includes Blackstone, Thomson Reuters Corp., CPP Investment Board affiliates, Singapore’s GIC, and Thomson Reuters Corp. Thomson Reuters said in a statement that it planned to use the money from the deal “to explore organic and inorganic opportunities in key growth areas and give returns to shareholders.” In New York at 9:40 a.m., Microsoft stock increased 1.4%. In trading in London, LSEG’s stock increased as much as 4.9%.
- Due to an optimistic statement from Goldman Sachs, Gap (NYSE:GPS) increased in premarket trade. As a result of Goldman upgrading the stock from Neutral to Buy and citing faster profits growth, shares of the garment retailer increased by around 3%.
- After deciding to be purchased by Amgen (NASDAQ:AMGN) for $27.8B, Horizon Therapeutics (HZNP) soared before the opening bell, rising 15%. AMGN will pay $116.50 per share in cash as per the agreement.
- Premarket buying was triggered by another acquisition deal in Weber (NYSE:WEBR). BDT Capital Partners will purchase the grill manufacturer for $8.05 per share, or $3.7 billion in total.
- Following the closing bell, Oracle (NYSE:ORCL) will release its quarterly results. On sales that are anticipated to increase to $12B, the corporation is expected to earn $1.17 per share.
Deutsche Bank surveyed more than 850 investors to find out what they thought about the market. About a third of the investors said that the S&P 500 would drop by more than 10% in 2023.
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Author Jowi Kwasu 
