1. Changes at GE: General Electric will deliver a major update on its strategy on Monday. John Flannery, the company's new CEO, is under pressure to restore investor confidence in the face of a serious cash crunch. GE has lost a third of its market value so far this year, making it the biggest Dow loser by a long shot.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -26.00 | | -1.75 | | -2.25 | | -0.11% | | -0.03% | | -0.09% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -300.43 | | +15.16 | | +8.14 | | 22,380.99 | | 3,447.84 | | 7,441.13 | | -1.32% | | +0.44% | | +0.11% | | | |
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| | | Biggest Winners | | Mattel Inc | +22.98% | | | | General Electric Co | +1.46% | | | | Tyson Foods Inc | +1.16% | | | | Boeing Co | +0.82% | | | Biggest Losers | | TechnipFMC PLC | -1.56% | | | | Qualcomm Inc | -1.27% | | | | Mylan NV | -1.13% | | | | Time Warner Inc | -0.70% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Changes at GE; Pound under pressure; Oil in focus | By Ivana Kottasová
Monday, November 13th, 4:51am | | | | 1. Changes at GE: General Electric will deliver a major update on its strategy on Monday. | | | | John Flannery, the company's new CEO, is under pressure to restore investor confidence in the face of a serious cash crunch. GE has lost a third of its market value so far this year, making it the biggest Dow loser by a long shot. | | | | The Wall Street Journal reported Monday that Flannery will announce plans to focus on the company's three biggest business lines -- aviation, power and health care. | | | | That means the conglomerate could be looking to exit its other businesses, including lighting and diesel trains. | | | | GE shares were 1% higher in premarket trading. | | | | Another possible announcement: GE could deliver just the second cut to its coveted dividend since the Great Depression. | | | | 2. More trouble for May: The British pound was 0.5% lower against the dollar after a turbulent weekend for Prime Minister Theresa May. | | | | May, who leads an already fragile government, is under increased pressure after two ministers left her cabinet. She reportedly also faces a rebellion from other cabinet members over her plans for Brexit. | | | | Another problem: The Sunday Times reported that as many as 40 members of parliament have agreed to sign a letter of no confidence in the prime minister. | | | | The pound was trading just above $1.30, or 13% below the its position ahead of the Brexit referendum in June 2016. | | | | 3. Oil in focus: Oil ministers from major energy producers are meeting this week at the Abu Dhabi International Petroleum Exhibition and Conference. | | | | OPEC and its allies agreed large scale production cuts a year ago, in order to get rid of the world's oil glut and support prices. They have extended the agreement until March 2018. | | | | The question now is whether the cuts will be extended even further. | | | | 4. Global market overview: U.S. stock futures were up. | | | | European markets opened higher, while markets in Asia finishing the session mixed. | | | | The Dow Jones industrial average closed 0.2% lower on Friday, pushing its loss for the week to 0.5%. The index had posted gains in each of the eight previous weeks. | | | | The S&P 500 shed 0.1% and the Nasdaq closed flat. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Company news: Mattel was up more than 20% in extended trading following reports that rival Hasbro had offered to buy the company. | | | | Shares in British defense contractor Ultra Electronics dropped as much as 23% after the company's CEO stepped down. | | | | French energy firm EDF dropped 6% in Paris after cutting its profit forecast. | | | | Tyson Foods is set to release its earnings before the U.S. open, while Famous Dave's will follow after the close. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Monday -- GE hosts key meeting
Tuesday -- Home Depot, TJX earnings, Japan and Germany report GDP
Wednesday -- Target, Cisco, L Brands earnings; U.S. retail sales for October; U.K. unemployment data
Thursday -- Best Buy, Walmart, Gap, Viacom earnings
Friday -- Abercrombie & Fitch earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $56.78 | +0.04 / +0.07% | | | Gold | $1,279.00 | +4.80 / +0.38% | | | 10-yr | 2.40% | +0.07 / +2.96% | | | Euro | $1.17 | -0.00 / -0.09% | | | |
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