U.S stock futures were mixed on Monday as a mixed U.S. jobs report did little to shake the expectation of aggressive tightening by the Federal Reserve. Additionally, Omicron uncertainty continues to send jitters after spreading to U.S. states.
Dow futures (DJIA) were up 0.27%, S&P futures (SPX) were up 0.02% and Nasdaq futures (NDX) were down 0.49% at the time of writing.
Upcoming Earnings
DLH Holdings (DLHC) and Science Applications International Corp. (SAIC) are scheduled to report their quarterly results before the market opens. Gitlab (GTLB), Healthequity (HQY), MongoDB, Inc. (MDB), and Sumo Logic (SUMO) will report after the market close.
Pre-market Movers
CF Acquisition VI (CFVI) was the most active stock in the pre-market session, with 2.03 million shares changing hands at the time of writing. The increased market activity comes on reports that the company has reached an agreement to take video platform Rumble public in a deal that values the company at $2.1 billion.
Ranpak Holdings Corp. Class A (PACK) was one of the biggest gainers in the pre-market session, jumping 18.03% at the time of writing. It is still unclear what is causing the stock to spike as no fundamental news has been released to justify the pop.
Alset EHome International (AEI) was one of the biggest losers in the pre-market session, falling 35.93% at the time of writing. The sell-off comes on the confirmation that the company has priced a $30 million underwritten public offering.
Market News
In M&A news, Fortive Corporation (FTV) has entered into an agreement to acquire clinical workflow software solutions provider Provation Software for $1.425 billion. The deal is likely to close before the end of the year. The acquisition is expected to bolster the company’s expertise in software development, which should enhance its ability to offer workflow solutions.
Meanwhile, The Carlyle Group (CG) has acquired a minority equity stake worth $2.25 billion in private equity firm GTCR. With the acquisition, the company will join GTCR as a shareholder in Resonetics, a company that engages in the micro-manufacturing of medical devices.
Macquarie Group (MCQEF) is exploring the sale of its marine petroleum transportation service unit, Centerline Logistics. Citing people with knowledge of the matter, Bloomberg reports that the unit could fetch as much as $600 million, including debt. The company has already engaged the services of Evercore Partners (EVR) as it explores the potential sale.
Goldman Sachs Group (GS) plans to invest between $2 billion and $3 billion in India’s real estate sector. Citing people with knowledge of the matter, MoneyControl.com reports that the financial firm could invest the money over the next three years as part of its $30 billion in alternative investments across Asia over the next five years.
AstraZeneca (AZN) is exploring the possibility of listing its newly created vaccines division. Citing people with knowledge of the matter, Bloomberg reports the listing is part of the pharmaceutical giant’s push to unlock shareholders’ value. Management has already discussed a range of possibilities with advisers as it looks to float the business.
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