ZIM - 4 stocks to watch on Monday: Meta Micron and more

2023-05-22 08:40:23 ET

The debt ceiling remained the key talking point on Wall Street headed into Monday's trading. Investors remained cautious after a slight dip to close out the previous week. Here are some stocks to watch on Monday:

• Meta ( NASDAQ: META ) has been fined 1.2B euros, or around $1.3B, by EU officials for privacy violations. Authorities found that the Facebook parent had transferred personal data from the EU to the US. "This decision is flawed, unjustified and sets a dangerous precedent for the countless other companies transferring data between the EU and US," a META official said in response to the fine, according to the Financial Times.
• Micron ( MU ) lost ground in premarket trading, falling about 4% on news that China has banned the firm's products from its " critical infrastructure supply chain ." This came after the government conducted a cybersecurity review.
• ZIM Integrated Shipping Services ( ZIM ) reported a wider-than-expected loss in Q1, with revenue that plunged more than 60% from last year. Meanwhile, the cargo shipping company said it the will not pay a dividend due to the heavy quarterly losses. ZIM dropped 9% before the opening bell.
• Zoom Video Communications ( ZM ) is scheduled to report its quarterly results before the opening bell. The video conferencing provider is expected to earn $0.99 per share on revenue of $1.08B. In choppy trading so far this year, ZM has edged up about 4% since the close of 2022. Over a 12-month timeframe, shares are down about 22%.

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