Skip to main content

Noble Energy, Disney, Facebook, AstraZeneca - 5 Things You Must Know Monday

Stock futures dip as Wall Street comes off its third straight week of gains; IBM reports earnings Monday, with Microsoft and Tesla reporting later in the week; Phase 1 results for a coronavirus vaccine developed by AstraZeneca are expected to be published Monday.

Here are five things you must know for Monday, July 20:

1. -- Stock Futures Dip as Wall Street Turns Eye to Earnings Reports

Stock futures were mostly lower Monday as Wall Street came off its third straight week of gains and investors turned their attention to a flurry of earnings reports.

Contracts linked to the Dow Jones Industrial Average fell 31 points, futures for the S&P 500 declined 6 points and Nasdaq futures were rising 9 points.

The Dow gained 2.3% last week, the S&P 500 rose 1.3% and the Nasdaq declined 1.1%.

While equities have been rising, concerns remain over the health of the U.S. economy as the coronavirus pandemic worsens.

President Donald Trump is expected to meet with House Minority Leader Kevin McCarthy and Senate Majority Leader Mitch McConnell, on Monday to discuss what would be the fifth coronavirus aid bill.

Stocks in Europe traded mixed as leaders continued to negotiate terms of a stimulus package.

Chevron  (CVX) - Get Free Report said Monday it reached an agreement to acquire Noble Energy for $5 billion in stock  (NBL) - Get Free Report.

Noble Energy shares rose 7.82% to $10.41.

2. -- IBM and Halliburton Report Earnings Monday

Halliburton  (HAL) - Get Free Report posted a narrower-than-expected second-quarter loss but still saw revenue at less than half of last year's total as the coronavirus pandemic crippled crude drilling projects in key markets around the world.

International Business Machines  (IBM) - Get Free Report also is scheduled to report earnings after the closing bell Monday.

Later in the week reports will be issued by Microsoft  (MSFT) - Get Free Report, Tesla  (TSLA) - Get Free Report, Coca-Cola  (KO) - Get Free Report, Lockheed Martin  (LMT) - Get Free Report, United Airlines  (UAL) - Get Free Report, American Airlines  (AAL) - Get Free Report, Southwest Airlines  (LUV) - Get Free Report, Snap  (SNAP) - Get Free Report, Texas Instruments  (TXN) - Get Free Report, Chipotle Mexican Grill  (CMG) - Get Free Report, AT&T  (T) - Get Free Report, Twitter  (TWTR) - Get Free Report, Intel  (INTC) - Get Free Report, Verizon Communications  (VZ) - Get Free Report and American Express  (AXP) - Get Free Report.

Microsoft is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells MSFT? Learn more now.

The economic calendar on Monday is bare. 

3. -- Coronavirus - The Latest

The number of confirmed global cases of the coronavirus has risen to 14,508,892, according to Johns Hopkins University, and deaths increased to 606,206.

The U.S. has 3,773,260 cases of the coronavirus, the most in the world, according to Johns Hopkins. Deaths in the U.S. have risen to 140,534, also the most in the world.

The Covid-19 outbreak in Florida is “totally out of control,” said Democratic Rep. Donna Shalala, and she called for a lockdown of the state.

“The residents here are terrified and I’m terrified, for the first time in my career because there’s a lack of leadership,” Shalala, whose district lies within Miami-Dade County, told ABC's "This Week."

“It’s terrible. We have community spread, which means the virus is out of control,” she added.

Los Angeles Mayor Eric Garcetti said the city opened too quickly and may be “on the brink” of new restrictions as coronavirus cases continue to spike. Another stay-at-home order was an option, Garcetti said Sunday on CNN.

Phase 1 results for a coronavirus vaccine developed by AstraZeneca  (AZN) - Get Free Report and the University of Oxford are expected to be published Monday in The Lancet medical journal.

4. -- Disney Slashes Ad Spending on Facebook and Instagram

Walt Disney  (DIS) - Get Free Report dramatically has slashed its advertising spending on Facebook  (FB) - Get Free Report and Facebook-owned Instagram, The Wall Street Journal reported, citing people familiar with the situation.

Disney was Facebook’s top U.S. advertiser for the first six months of 2020, according to research firm Pathmatics, the Journal reported.

A number of major advertisers, such as Unilever and Coca-Cola, earlier this month signed on to the boycott, which is a protest of Facebook's policies on hate speech, voter suppression and misinformation. It has gained steam for several weeks, with hundreds of brands pledging to pull ad budgets from Facebook and Instagram at least through July. 

Facebook fell 0.55% to $240.71 in premarket trading Monday.

Facebook and Walt Disney are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stocks? Learn more now.

5. -- EBay Nears Deal to Sell Classified-Ads Business

EBay  (EBAY) - Get Free Report is in advanced talks to sell its classified-ads business to Norway’s Adevinta, The Wall Street Journal reported, citing people familiar with the matter.

A cash-and-stock deal could be announced as soon as Monday. The unit is expected to sell for roughly $8 billion or more.

Adevinta’s bid appears to have beaten out those of a private-equity consortium and of Prosus NV, the Journal noted. Bloomberg reported last week that Prosus was the front-runner for the eBay business.

EBay said in February it was in active talks with multiple suitors about a potential deal for its classifieds business as it responded to pressure from activist investors to focus more on its main online marketplace which has been struggling against competition from the likes of  (AMZN) - Get Free Report.