2023-05-08 08:57:40 ET
Following a sharp rise on Friday, which broke a four-day losing streak for the S&P 500, the futures suggested a cautious approach to Monday's trading. Wall Street is still considering the Federal Reserve's likely next move, as well as the health of the overall economy. Here are some stocks to watch on Monday:
- Tyson Foods ( TSN ) dropped 8% in premarket action after the chicken and other protein producer revealed a surprise loss for its latest quarter. The company also issued a weak forecast, predicting 2023 sales in a range from $53B to $54B. This was below the $55B to $56B that the firm had previously predicted.
- Berkshire Hathaway ( NYSE: BRK.B ) ( NYSE: BRK.A ) said its Q1 operating earnings rose 13% from last year, boosted by strength in underwriting and investment income. Meanwhile, Warren Buffett, the firm's billionaire chairperson and CEO, said operating earnings should rise this year as a whole, even though he expects lower earnings at a "majority of our businesses" due to weakened demand.
- The release of quarterly results sparked premarket buying in BioNTech ( BNTX ), with the stock climbing 5% before the opening bell. The vaccine maker exceeded projections with both its top and bottom lines, despite revenue that slumped 80% from last year as demand for its COVID vaccine trailed off.
- PayPal ( PYPL ) is slated to announce its quarterly results after the closing bell. Analysts expect the payment processor to earn $1.10 per share, with revenue predicted to total $6.99B. Investors will also look for additional information about the firm's succession plan, with its CEO scheduled for retirement on Dec. 31.
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4 stocks to watch on Monday: Tyson Foods, Berkshire Hathaway and more