Friday’s Premarket: Here’s What You Need To Know Before The Market Opens

US stock futures edged higher on Friday as the Dow Jones Industrial Average (DJIA) crossed 34,000 for the first time ever.

Dow futures were 0.2% higher, S&P futures had gained 0.14%, and Nasdaq futures were up 0.12% at the time of writing.

There is another batch of banking stocks expected to report results today before the opening bell. These include Bank of New York (BK), Morgan Stanley (MS), PNC Financial Services (PNC), Ally Financial (ALLY), and State Street (STT).

MER Telemanagement Solutions (MTSL) was the most actively traded stock and also the top gainer, up by about 92.3%. The telecommunications expenses management company announced its merger with SharpLink, a company that works with fantasy sports sites and sports media companies. Terms of the merger were not disclosed.

Sequential Brands (SQBG) was the biggest laggard, falling by 20.4% at the time of writing as the company declared its 4Q and FY21 results. SQBG reported revenues of $23 million in 4Q, a decline of 5% year-on-year, and a loss of $2.65 per diluted share that narrowed from a loss of $4.87 per diluted share in the same quarter a year ago.

In M&A news, Autodesk (ADSK) intends to acquire Upchain for an undisclosed amount. Autodesk plans to accelerate product development and data processes in the cloud with this acquisition. Autodesk CEO, Andrew Anagnost, stated “The convergence of data and processes is transforming the industry. By integrating Upchain with our existing offerings, Autodesk customers will be able to easily move data without barriers and will be empowered to unlock and harness valuable insights that can translate to fresh ideas and business success.”

SunOpta (STKL) has acquired plant-based beverage brands Dream and WestSoy from The Hain Celestial Group for $33 million and intends to fund the acquisition primarily with a $20 million FILO term loan.

SunOpta’s CEO Joe Ennen said, “This transaction is very consistent with our previously stated objective of pursuing strong organic and inorganic growth in our plant-based business. These two brands are perfect examples of niche brands that complement but do not directly compete with, our vitally important co-manufactured partners. Since SunOpta has been manufacturing these brands for years, when this opportunity presented itself it was an obvious fit for us to own these brands.”

Meanwhile, investment firm Colony Capital (CLNY) has sold its 74% stake in 2 office properties in Dublin for $351 million to Blackstone Property Partners Europe Holdings. The sale will provide CLNY with additional funds for making digital investments along with advancing its Other Equity and Debt (OED) Monetizations.

Energy infrastructure company New Fortress Energy (NFE) has signed a 15-year contract to supply natural gas to a subsidiary of Norsk Hydro, Alunorte Alumina Refinery in Brazil. New Fortress Energy Chairman and CEO Wes Edens said, “We look forward to this long-term partnership and are pleased to assist Hydro with the transition of the Alunorte refinery to utilizing a cleaner and more affordable supply of energy.

In other news, DraftKings (DKNG) has signed a partnership deal with the National Football League (NFL) to be the official Sports Betting Partner of the NFL and will also extend its contract as an exclusive official Daily Fantasy Partner.

We share the same vision as the NFL on fan engagement and believe this agreement will lead to new innovations that will ultimately enhance both the product on the field and on the screen,” said DraftKings’ Co-Founder, Chairman and CEO, Jason Robins