Updated to include more information on GE/Baker Hughes deal and CenturyLink's confirmation that it reached a deal to acquire Level 3 Communications.
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Here are five things you must know for Monday, Oct. 31:
1. -- U.S. stock futures were higher but European stocks and Asian markets were lower as a revived FBI inquiry into U.S. presidential candidate Hillary Clinton's private email server rattled markets.
The FBI said Friday that it was re-opening its investigation into Clinton's email use after the agency said it found evidence of communications related to its probe that needed further examination. News of the probe, which was revealed in a letter to Congressional Republican lawmakers from FBI director James Comey, hit U.S. stocks late Friday.
Oil prices in the U.S. extended losses after falling last week to their lowest price this month. Crude was down 0.06% to $48.67 a barrel as non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, Reuters reported.
The economic calendar in the U.S. on Monday includes Personal Income and Personal Spending for September at 8:30 a.m. EDT, and Chicago PMI for October at 9:45 a.m.
Under terms of the deal, Baker Hughes shareholders will receive a special one-time cash dividend of $17.50 a share and 37.5% of the new company. GE will own 62.5% of the company.
The transaction is expected to close in mid-2017, the companies said in a press release Monday.
"This transaction creates an industry leader, one that is ideally positioned to grow in any market. Oil & gas customers demand more productive solutions. This can only be achieved through technical innovation and service execution, the hallmarks of GE and Baker Hughes," said Jeff Immelt, GE's chairman and CEO, in a statement.
The transaction is expected to add about 4 cents a share to GE's earnings in 2018, and 8 cents a share by 2020.
GE and Baker Hughes will hold an investor webcast at 8:30 a.m. EDT on Monday, Oct. 31.
GE shares rose 0.6% in premarket trading while Baker Hughes jumped 9.1%.
In other mergers news, Level 3 Communications (LVLT) gained 11.6% to $60.30 after it agreed to be acquired by CenturyLink (CTL) - Get CenturyLink, Inc. Report in a deal valued at about $34 billion after including debt.
Sony now expects full-year net profit of ¥60 billion ($571.9 million), down a quarter from its July forecast, and 59% year on year. Analysts said the deal with Murata, which followed an agreement in principle in July, was positive since it frees the group from an unprofitable business.
4. -- Honda's (HMC) - Get Honda Motor Co., Ltd. Sponsored ADR Report net profit in the July-September quarter jumped 39% from a year earlier to 177 billion yen ($1.7 billion), helped by strong sales of its sport utility vehicles in China, the company said Monday.
Honda also upgraded its forecast for its fiscal full-year net profit to 415 billion yen ($3.96 billion), from an earlier estimate of 390 billion yen.
The maker of the Accord sedan said it expects to sell 4.98 million vehicles in the fiscal year that ends March 31, up slightly from its earlier estimate for 4.92 million and a 5% increase from a year earlier.
Sales of motorcycles were expected to fall slightly, while sales of power products are forecast to be flat, Honda said.
5. -- DraftKings and FanDuel, the two dominant players in the daily fantasy sports industry, are finalizing terms of a merger, multiple sources with knowledge of the discussions told ESPN.
The long-rumored deal was described as "imminent" and could be announced as early as this week after details are finalized. according to ESPN.