8 stocks to watch on Monday: Ford, Thermo Fisher, Chinese names and more (NYSE: F) | Rare Techy
Stock markets appear to be in early decline on Monday as investors take a cautious approach ahead of a Federal Reserve announcement later this week. Amid cautious trading, here are several stocks to watch on Monday:
- Ford (NYSE:F) is reportedly cutting the ranks of its companies by offering severance pay to low-paid workers. Accordingly The Wall Street Journalthe automaker is targeting veteran drivers who have shown a “decrease in performance.”
- Emerson Electric ( EMR ) has reached an agreement to sell 55% of its climate technologies business to private equity firm Blackstone ( BX ). EMR will receive pretax cash income of about $9.5 billion, valuing the company with debt at a total of $14 billion.
- Thermo Fisher ( TMO ) is reportedly close to a deal to buy UK-based diagnostics products maker Binding Site from private equity firm Nordic Capital. According to Bloomberg, the purchase price of the deal is 2 billion pounds ($2.3 billion).
- Chinese stocks lost ground in pre-market trading on fears of tightened COVID restrictions in regions such as Beijing. Electric vehicle names such as XPeng ( XPEV ) and Li Auto ( LI ) were affected by the drop, which fell about 5% and 4%, respectively. Alibaba ( BABA ), JD.com ( JD ), and Baidu ( BIDU ) also showed weakness.
For more on the near-term direction of the stock market, see which key issue is driving trading this week, according to Goldman Sachs’ trading desk.