1. Xerox walks away: Xerox is pulling out of a multibillion-dollar deal to be taken over by Japan's Fujifilm. The US printer and copier company announced the move in a statement late Sunday, saying it had reached a new agreement with activist investors Carl Icahn and Darwin Deason, who had bitterly opposed the Fujifilm deal.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +83.00 | | +20.25 | | +5.25 | | +0.33% | | +0.29% | | +0.19% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +107.38 | | +10.77 | | -5.74 | | 22,865.86 | | 3,174.03 | | 7,718.81 | | +0.47% | | +0.34% | | -0.07% | | | |
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| | | Biggest Winners | | Qualcomm Inc | +3.66% | | | | FMC Corp | +2.36% | | | | Microchip Technology Inc | +2.21% | | | | Micron Technology Inc | +1.31% | | | Biggest Losers | | Boston Scientific Corp | -8.01% | | | | Xerox Corp | -4.11% | | | | Perrigo Company PLC | -3.65% | | | | Exxon Mobil Corp | -0.47% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Xerox ditches Fujifilm; Trump's ZTE U-turn; Crypto trade | By Ivana Kottasová
Monday, May 14th, 6:12am | | | | 1. Xerox walks away: Xerox is pulling out of a multibillion-dollar deal to be taken over by Japan's Fujifilm. | | | | The US printer and copier company announced the move in a statement late Sunday, saying it had reached a new agreement with activist investors Carl Icahn and Darwin Deason, who had bitterly opposed the Fujifilm deal. | | | | The Japanese company said it disagrees with Xerox's "unilateral decision" and doesn't think the US company has the legal right to ax the deal. | | | | Fujifilm shares were trading 1.6% higher in Tokyo. | | | | 2. Trump's ZTE U-turn: President Donald Trump announced Sunday he is working to give China's sanctioned ZTE "a way to get back into business, fast." | | | | It was a sudden and unexpected shift in the US stance at the start of an important week for trade ties between the world's top two economies. A second round of trade talks is due to begin on Tuesday. | | | | The US Commerce Department banned the company from buying components from American firms last month, a move that prompted ZTE to declare that it was shutting down its major business operations. | | | | 3. Trade goes crypto: ING Bank and HSBC announced Sunday that they have conducted their first trade transaction using blockchain technology. | | | | The two banks used Corda, a blockchain technology developed specifically for business, to finance a shipment of soya beans from Argentina to Malaysia for global commodities trader Cargill. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Markets winning streak: The Dow Jones industrial average gained 0.4% on Friday, extending its winning streak to seven days -- the longest stretch of consecutive daily gains since November. | | | | The S&P 500 was up 0.2% on Friday. The index added 2.4% in the week, its best weekly performance in two months. The Nasdaq was flat on Friday. | | | | The gains could go on: US stock futures were pointing higher on Monday. | | | | European markets opened lower, while stocks in Asian ended the session mixed. | | | | US crude futures were 0.6% lower on Monday, trading at $70.30 per barrel. Recent sharp gains in crude prices are helping big oil stocks, but hurting drivers. | | | | Gasoline prices are up 22% this year to a national average of $2.86 a gallon, according to AAA. Drivers in 10 states are already paying $3 or more. | | | 5. Stock market movers: Shares in IWG, the parent company of office provider Regus, surged almost 20% in London on Monday, after the company revealed takeover offers from three separate companies. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Tuesday — Home Depot earnings; US-China trade talks; USTR hearing starts; US retail sales
Wednesday — Macy's earnings
Thursday — JCPenney, Nordstrom earnings
Friday — Campbell Soup earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $70.54 | -0.16 / -0.23% | | | Gold | $1,319.80 | -0.90 / -0.07% | | | 10-yr | 2.97% | 0.00 / 0.00% | | | Euro | $1.20 | +0.00 / +0.22% | | | |
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