Wall Street indexes were mixed in morning trading. Here’s what we’re watching on Monday:
- Elliott Management and Vista Equity Partners are near an agreement to pay $104 a share, or roughly $13 billion, for software company Citrix Systems, according to people familiar with the matter.
- Robot security company Knightscope was climbing in morning trading, building on Friday’s 176% surge that followed its rocky debut the day before.
- Music-streaming company Spotify on Sunday made public its content policies, which it didn’t alter, and created a Covid-19 information hub. The move came after folk singer Neil Young had his music removed from the platform as he complained that it was allowing popular podcaster Joe Rogan to spread Covid-19 misinformation through his program.
The U.S. headquarters of the music streaming service Spotify in lower Manhattan, Dec. 8, 2019.
Photo: Daniel Kalker/dpa/Associated Press
- Semiconductor company Wolfspeed said it would offer $500 million of senior convertible notes.
- Maker of elevators and escalators Otis Worldwide said its profit rose for the fourth quarter as sales grew in both the new-equipment and service segments.
- L3Harris Technologies, a provider of services to aviation-, space- and defense-industry customers, said it expects organic revenue to grow by a percentage rate in the low single digits in 2022, driving higher adjusted earnings.
- Novavax shares were climbing in morning trading. The vaccine maker’s shares closed up 14% on Friday after Israel’s Ministry of Health agreed to buy doses of the company’s NVX-CoV2373 Covid-19 vaccine candidate.
- Credit Suisse lifted its rating on Tesla stock to “outperform.”
- Netflix ‘s stock got a ratings upgrade from Citigroup, to “buy” from “neutral,” and a price target of $450. It closed Friday at $384.36.
- J&J Snack Foods, Cabot and Fabrinet are due to report after the close.
Chart of the Day
- The central bank had been the biggest buyer of mortgage bonds, but now it is stepping back and borrowing costs are rising.
Write to James Willhite at [email protected]
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