Stock index futures inched higher on Friday, a day after Wall Street paused its rally as concerns rose about the length of the U.S. government shutdown. Here are four stocks to watch on the day:
Bristol-Myers Squibb (BMY) shares were up 0.5% in premarket trade as it agreed to acquire privately held biotechnology company Orbital Therapeutics for $1.5 billion in cash. The deal strengthens the firm’s cell therapy portfolio. Orbital Therapeutics is advancing a new generation of RNA medicines designed to reprogram cells in vivo, treating diseases at their source.
Qualcomm (QCOM) was down 1.1% before the opening bell after China’s State Administration for Market Regulation reportedly started an investigation into the months-old Qualcomm’s (NASDAQ:QCOM) acquisition of Autotalks. The regulator said it would look into potential violations of the country’s anti-monopoly law in relation to Qualcomm’s acquisition of connected-vehicle technology provider Autotalks.
Mosaic (MOS) dropped 9.1% in premarket trade after its production and sales volumes for potash in the third quarter were both ~2.3 million tonnes, while phosphate sales came in at 1.6 million tonnes, trailing production due to shipment timing delays. Sales volumes for Mosaic Fertilizantes in the third quarter were approximately 2.8 million tons, a 25% increase from the second quarter.
Lowe’s (LOW) stock will be under watch as it could snap its nine straight sessions of losses. The company is currently up 0.4% in premarket trade. The company began its downward trajectory on September 29. As per Seeking Alpha’s quant ratings, it is recommended to Hold the stock. However, Wall Street analysts have a Buy call for the stock. The stock has been down 4.9% since the start of the year.