LMT - Hot Stocks: CSCO bids for SPLK; LMT breaks AJRD deal; KELYA earnings; HUT equity sale

Headlines related to M&A deals dominated Monday's pre-market action. Cisco (NASDAQ:CSCO) provided the biggest news on reports that it has made a bid to acquire Splunk (NASDAQ:SPLK). A broken merger deal also took a share of the spotlight. Aerojet Rocketdyne (NYSE:AJRD) lost ground after regulatory resistance forced Lockheed Martin (NYSE:LMT) to drop its deal to acquire the firm. In other news, Kelly Services (NASDAQ:KELYA) rallied in pre-market action on earnings news. Meanwhile, plans for an equity sale weighed on shares of Hut 8 Mining (NASDAQ:HUT). Gainers Splunk (SPLK) jumped 8% in pre-market action following a report over the weekend that the company has received a takeover offer from Cisco (CSCO). According to the Wall Street Journal, CSCO has made a bid worth more than $20B.  Commenting on the potential merger, Morgan Stanley praised the offer, saying it would make a "strategically positive" move for CSCO. Meanwhile, earnings news gave a

For further details see:

Hot Stocks: CSCO bids for SPLK; LMT breaks AJRD deal; KELYA earnings; HUT equity sale