Stock futures rose on Monday morning as inflation and retail sales data take center stage this week.
Here are 4 Yahoo Finance trends in pre-market trading:
Occidental Petroleum Corporation (OXY): Occidental Petroleum shares were higher in premarket trading Monday after billionaire investor Warren Buffet increased his stake to 26.8 percent by buying an additional 51.99 million shares, according to Securities and Exchange Commission filings. The move came shortly after the Federal Energy Regulatory Commission (FERC) announced in late August that Berkshire Hathaway’s additional investment in Occidental was “in the public interest,” giving Buffett the nod to buy “up to 50%.” of the common oil major. shares.
Bristol-Myers Squibb Company (BMY): Bristol Myers Squibb rose in premarket trading on Monday after the Food and Drug Administration on Friday approved Bristol Myers Squibb’s psoriasis pill Sotyktu, the first drug of its type and the last of three potential blockbusters drugs the company tried to bring to market this year. The approval came after Phase 3 trial trials in which the pill was tested against a placebo as well as another oral treatment, Amgen’s Otezla.
“Sotyktu has the potential to become the new standard of oral care for people with moderate to severe plaque psoriasis given its profile in helping patients achieve clearer skin as demonstrated in the POETYK PSO clinical program,” said April Armstrong, MD, MPH. clinical investigator in the POETYK PSO-1 trial and Associate Dean and Professor of Dermatology at the University of Southern California.
Oracle Corporation (ORCL): Shares of Oracle moved higher ahead of Monday’s earnings report, which will be after the market close. Investors will be looking for an update on the integration of Cenner, the second-largest maker of software used by doctors and hospitals to manage and store medical records, which it bought earlier this year for $28.3 billion.
“Worse-than-expected currency headwinds during the fiscal first quarter could drive reported results below Street expectations,” analysts at Guggeheim Securities wrote in a note to investors. The company is also expected to cut new hires within the next year or undertake other restructuring, according to Bloomberg Intelligence.
AMC Entertainment Holdings, Inc. (AMC): Shares of AMC Entertainment moved higher in premarket trading after Cineworld Group Inc., one of the world’s largest theater chains and a rival to AMC Entertainment Holdings Inc. based in Leawood, announced last week that it has filed for Chapter 11 bankruptcy. AMC CEO Adam Aaron posted several tweets in response to the news, promising that AMC is in “a very, very different situation.” The company reported a net loss of $121.6 million in the quarter, which was significantly less than a loss of $344 million a year earlier.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv
Click here for the latest stock market news and in-depth analysis, including the events that move stocks
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for apple the Android
Follow Yahoo Finance at Twitter, Facebook, Instagram, Flipboard, LinkedInand YouTube