The futures pointed to a higher open at the start of Monday's trading, as Wall Street looks to bounce back from the decline that marked the end of last week. Here are some stocks to watch on Monday:
- Union Pacific ( NYSE: UNP ) surged almost 10% in premarket trading after the company announced the departure of its chief executive . Amid pressure from an activist investor, CEO Lance Fritz is leaving the company and the railroad operator has launched a search for a replacement.
- Fisker ( FSR ) pushed higher in premarket trading following the release of Q4 results . The EV maker posted a wider-than-expected loss for the quarter, but investors focused on optimism about the launch of the company's Ocean vehicle. "Ocean reservations keep increasing despite new competition and competitors’ price reductions," the company said.
- The release of quarterly results also gave a lift to Opera ( OPRA ), with the stock jumping about 9% before the opening bell. The Norway-based web browser exceeded expectations with its Q4 earnings and revenue. Looking ahead, the company projected Q1 revenue of $83M-$85M.
- Viatris ( VTRS ) reported GAAP net income of $1B , compared to a loss of $263.8M in the same period last year. The profit came thanks to a one-time gain of $1.8B related to the sale of its biosimilar business. Revenue slumped 11% to $3.9B. The company also announced that it has named Scott Smith as its new CEO, replacing Michael Goettler. Following the earnings report, the stock posted a premarket decline of nearly 2%.
- Occidental Petroleum ( OXY ) is scheduled to report its quarterly results after the closing bell. The company is projected to earn $1.83 per share on revenue of $8.2B.
- Zoom Video Communications ( ZM ) is also slated to announce its earnings in the postmarket period. Analysts expect the online video conference company to record EPS of $0.82 and revenue of $1.1B. The one-time pandemic darling recently announced that it lay off 1,300 employees, or around 15% of its workforce.
For a look at the broader market, Seeking Alpha contributor Mott Capital Management takes a deep dive into the implications of the recent hotter-than-expected inflation figures, saying "Fantasyland and story time for the bulls is over ."
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6 stocks to watch on Monday: Union Pacific, Fisker and more