Stocks were rebounding in Monday’s premarket trading following a drop to close out last week. After obsessing about inflation and interest rates for the past several weeks, Wall Street will see corporate earnings take center stage.
Here are some stocks to watch for Monday:
- Apple (AAPL) is likely going to announce the latest update to its iPad Pro line of tablets within a “matter of days.” This is according to a report from Bloomberg. Meanwhile, the tech giant was selected as the top pick by Morgan Stanley.
- Bank of America (NYSE:BAC) gained ground in premarket trading after issuing its Q3 results. The bank beat estimates with its bottom line, bolstered by rising interest rates and strength in its consumer and global banking units. The company also raised its provision for bad debt, getting ready for a slowing economy.
- Bank of New York Mellon (BK) also pushed higher in the wake of its quarterly report. The bank topped projections on higher rates, although the firm faced declines in assets under management.
- News Corp. (NWS) (NWSA) showed weakness in premarket action, following reports that Rupert Murdoch is considering a recombination between the company and Fox (FOX) (FOXA). The chatter is based on a report published by the Wall Street Journal on Friday.
- Reports of interest from an activist investor sparked buying in software maker Splunk (SPLK). Shares jumped 10% before the opening bell after the WSJ reported that activist investor Starboard Value has taken a stake in the firm. According to the paper, Starboard has acquired just under 5% of SPLK.
For more about the current state of the market, see why Morgan Stanley thinks a bear market rally began last week.
