Here are five things you must know for Monday, Oct. 30:
Here's What You Should Be Watching out of Europe This Week:
1. -- U.S. stock futures were lower on Monday, Oct. 30, as Wall Street awaited developments this week on U.S. tax reform, a decision from the Federal Reserve on interest rates and the possible first arrests after the federal grand jury in the Russia investigation by special counsel Robert Mueller approved its first charges.
The New York Times reported that Paul Manafort and one of his former business associates, Rick Gates, were ordered to surrender to federal authorities early Monday. The Times cited a person involved in the special counsel investigation.
European stocks were trading mixed on Monday, as Spain's constitutional crisis weighed on sentiment. Asian shares ended the session mixed.
The economic calendar in the U.S. on Monday includes Personal Income and Outlays for September at 8:30 a.m. ET.
Earnings reports are expected Monday from Mondelez International Inc. (MDLZ) - Get Report , Angie's List Inc. (ANGI) - Get Report , Dominion Energy Inc. (DO) - Get Report and Level 3 Communications Inc. (LVLT) .
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Advanced Accelerator develops, produces and commercializes molecular nuclear medicines including Lutathera, which was approved in Europe in September for use against gastroenteropancreatic neuroendocrine tumors. The drug, which treats the kind of cancer that killed Apple Inc. founder Steve Jobs, is under review for use in the U.S.
Under the deal, Novartis will make a cash offer of $41 a share and $82 per American depositary share for Advanced Accelerator, valuing the French company at AAA at $3.9 billion.
"Novartis has a strong legacy in the development and commercialization of medicines for neuroendocrine tumors where significant unmet need remains for patients," said Novartis Oncology CEO Bruno Strigini. "With Lutathera we can build on this legacy by expanding the global reach of this novel, differentiated treatment approach and work to maximize Advanced Accelerator Applications broader RLT pipeline and an exciting technology platform."
ADRs of Advanced Accelerator were rising 10% in premarket U.S. trading.
The Dutch paints maker said it was in "constructive discussions" about a "merger of equals" of AkzoNobel Paints & Coating and Axalta, which would create a company with a market value of about $30 billion. Akzo Nobel was responding to market speculation about the talks that sent Axalta's shares up 16.95% on Friday, Oct. 27, to $33.15..
Akzo Nobel shares were up 0.7% in Amsterdam, while shares of Axalta fell 1.7% in premarket trading on Monday.
4. -- CVS Health Corp.'s (CVS) - Get Report bid for Aetna Inc. (AET) was the culmination of a wide-ranging hunt by the drugstore giant for a deal partner, the Journal reported.
CVS has been examining different deal possibilities for about six months, the Journal reported, citing sources. That process included informal and preliminary approaches to Anthem Inc. (ANTM) - Get Report and UnitedHealth Group Inc. (UNH) - Get Report , according to the newspaper.
5. -- Shares of HSBC PLC (HSBC) - Get Report were falling 1.2% in premarket U.S. trading after the company posted solid third-quarter earnings thanks to a renewed drive into key markets in Asia but cautioned that a previous return on equity target may be delayed until next year.
Europe's biggest bank said profit for the three months ended in September grew nearly fivefold to $4.6 billion, a figure that fell largely in-line with analysts' estimates and was overwhelmingly driven by growth in Asia. However, the bank's aim for a return on equity of 10% for the full year likely won't be achieved until 2018 after hitting 8.2% for the first nine months.
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This story has been updated to include information on special counsel Robert Mueller's probe of Russian medding in 2016 presidential election.