Stock index futures were lower on Friday, a day after Wall Street witnessed a sell-off as the post-shutdown optimism faded and concerns regarding the economy returned. Here are four stocks to watch on the day:
Merck (MRK) was flat in premarket trade as it said it will acquire Cidara Therapeutics (CDTX) for $221.50 per share in cash, for a total transaction value of approximately $9.2 billion. Cidara jumped more than 100% in premarket trading. The transaction is expected to close in the first quarter of 2026 and is expected to be accounted for as an asset acquisition.
Nu Holdings (NU) shares rose 3% before the opening bell as the fintech, known for its NuBank digital bank, delivered strong Q3 results, as its app attracted new customers who stayed engaged. Q3 GAAP EPS of $0.16, beating the average analyst estimate of $0.15, rose from $0.13 in Q2 and $0.11 in last year’s Q3.
Gap (GAP) stock was up 1.5% in premarket trade after Jefferies turned bullish on the retailer. The firm believes that new leadership at Gap (GAP) has delivered a strong turnaround at both the Gap and Old Navy chains. The Jefferies view is that Gap is well-positioned to drive solid same-store sales growth.
Bristol Myers Squibb (BMY) fell ~5.7% before the opening bell after the company said that a Phase 3 trial for milvexian, an anticoagulant it is advancing with Johnson & Johnson, is unlikely to meet its primary goal. Concurrently, the New Jersey-based pharma giant said that as a result, it will discontinue its Librexia ACS trial, which evaluated milvexian with standard of care in patients who suffered from a recent Acute coronary syndrome event.