Stock futures traded lower Monday as Wall Street came off a rough week driven by concern about how rising inflation would affect the U.S. recovery.
Here are some of the top movers during premarket trading on Monday.
1. Discovery DISCA | Up 11%
Shares of Discovery (DISCA) - Get Report surged after the company behind channels such as TLC, HGTV and Animal Planet said it would acquire AT&T's (T) - Get Report WarnerMedia unit in a deal valued at $43 billion.
2. AT&T T | Up 2.7%
Shares of AT&T (T) - Get Report advanced after the telecom major said its WarnerMedia unit was set to merge with Discovery (DISCA) - Get Report to create a media giant valued at $43 billion.
WarnerMedia owns cable channels such as HBO, CNN, TNT and TBS as well as the Warner Bros. television and film studio.
Discovery's portfolio includes its namesake network, Animal Planet and HGTV.
3. Tesla TSLA | Down 2.1%
4. ViacomCBS VIACA | Up 2.8%
Shares of ViacomCBS (VIACA) - Get Report rose after George Soros’ investment firm said in a regulatory filing that it scooped up shares of the media company sold off during the Archegos collapse.