MCD - 4 stocks to watch on Monday: Tesla McDonald's and more

2023-04-03 08:01:01 ET

The futures were mixed in Monday's premarket trading following a rally to close out the end of last week. A surprise OPEC output cut impacted Wall Street sentiment during the morning. Here are some stocks to watch on Monday:

• Tesla ( NASDAQ: TSLA ) reported deliveries that reached 422,875 vehicles in Q1, ticking past analysts' consensus, which called for a figure of around 421.2K. Elon Musk's EV maker said it produced 440,808 vehicles during the quarter. TSLA slipped about 2% before the opening bell.
• McDonald's ( MCD ) has reportedly closed its U.S. offices early this week in order to announce a layoff plan . According to the Wall Street Journal, the fast food giant asked employees to work from home as it delivered the news of job cuts virtually.
• Life Storage ( LSI ) advanced in premarket trading, rising about 3% on news of a merger deal . Under the agreement, the self-storage company will combine with rival Extra Space Storage ( EXR ) in an all-stock transaction valued at $12.4B. The deal calls for each share of LSI to be exchanged for 0.895 shares of EXR.
• World Wrestling Entertainment ( WWE ) is reportedly approaching a deal to sell itself to talent-agency company Endeavor Group Holdings ( EDR ), which owns the mixed martial arts promoter Ultimate Fighting Championship. According to CNBC, the negotiation is in an advanced stage and a deal could be announced as early as Monday. WWE dipped about 4% in premarket action.

Looking at the broader market, see why Seeking Alpha contributor Mott Capital Management argues that the bear market is not over yet, as a recent rise in the Nasdaq has been driven by CTA flows .

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