Here are five things you must know for Monday, Nov. 25:
1. -- Stock Futures Rise as Trade Optimism Lifts Sentiment
U.S. stock futures rose Monday, pulling the three major equity benchmarks back toward all-time highs, as trade optimism and a wave of merger deals, including Charles Schwab's (SCHW) - Get Report $26 billion purchase of TD Ameritrade (AMTD) - Get Report , boosted market sentiment.
A statement from China that pledged major changes to the way it protects international property rights supported a weekend narrative that a so-called phase one trade agreement could be reached before the end of the year.
That view was echoed by U.S. national security adviser Robert O'Brien, who told a conference in Halifax, Nova Scotia, that it was still "possible" to reach a deal, but cautioned that weekend elections in Hong Kong needed to proceed without violence or interference. The local polls in Hong Kong, which has been crippled by anti-Beijing protests for the past five months, delivered a resounding victory for pro-democracy candidates in the China-backed protectorate.
Besides Schwab's acquisition of fellow online broker TD Ameritrade, two other major merger deals - the takeover of Tiffany (TIF) - Get Report by France's LVMH Group (LVMUY) , and the purchase by Switzerland's Novartis (NVS) - Get Report of cholesterol drugmaker Medicines Co. (MDCO) - Get Report - added to the session's positive tone.
Contracts tied to the Dow Jones Industrial Average rose 70 points, futures for the S&P 500 gained 6.65 points, and Nasdaq futures were up 27 points.
2. -- Tiffany Jumps After Agreeing to $16.2 Billion Takeover by LVMH
Shares of Tiffany jumped 5.81% to $132.80 in premarket trading after France's LVMH Group agreed to buy the U.S. jeweler for $16.2 billion in the biggest-ever luxury goods takeover deal.
LVMH, the French company behind luxury labels such as Christian Dior, Fendi and Givenchy, said it would pay $135 a share for Tiffany, a $10 premium to the stock's closing price on Friday and about 37% higher than where the biggest U.S. jeweler traded just over a month ago.
The deal values Tiffany at $16.2 billion when are included. The deal is expected to close in the middle of 2020.
"Tiffany has been focused on executing on our key strategic priorities to drive sustainable long-term growth. This transaction, which occurs at a time of internal transformation for our legendary brand, will provide further support, resources and momentum for those priorities as we evolve towards becoming The Next Generation Luxury Jeweler," said Tiffany CEO Alessandro Bogliolo. "As part of the LVMH group, Tiffany will reach new heights, capitalizing on its remarkable internal expertise, unparalleled craftsmanship and strong cultural values."
3. -- Novartis Reaches Deal to Buy Medicines Co. for $9.7 Billion
Novartis agreed to buy cholesterol drugmaker Medicines Co. for $9.7 billion.
Novartis will pay $85 a share for Medicines Co., the Parsippany, New Jersey-based company, representing a 45% premium to the stock's closing price on Nov. 18, when news of the deal was first published by Bloomberg.
Medicines Co. shares soared 22.83% to $84.20 in premarket trading Monday. They closed Friday at $68.55
Both companies expect the deal to close in the first quarter of 2020.
Novartis said its main target in the acquisition was Medicines Co.'s cholesterol specialty drug inclisiran, which Novartis CEO Vas Narasimhan called a "potentially transformational medicine that re-imagines the treatment of atherosclerotic heart disease and familial hypercholesterolemia."
The drug had successful results in late-stage clinical trials which found it could be an "important and promising potential therapy option" in patients with an inherited form of hypercholesterolemia.
Often called familial hypercholesterolemia, the inherited condition alters the way cholesterol is processed and puts patients at a higher risk of getting an early heart attack.
Novartis is a holding in Jim Cramer's
. Want to be alerted before Jim Cramer buys or sells NVS?
4. -- Disney's 'Frozen 2' Makes $127 Million Domestically in Its Debut
The score surpassed most analysts' expectations and the forecast by Box Office Mojo that predicted the movie would take in $120 million in 4,440 U.S. theaters. Its global opening brought in a total $350.2 million, making "Frozen 2" the highest-grossing debut ever for any animated film globally.
"Frozen 2" made its debut in theaters on Friday.
The first "Frozen" movie that pulled in total box office revenue of about $1.3 billion was the highest-grossing animated movie of its time, although it was later topped by Disney's remake of "The Lion King."
Shares of Disney, which earlier this month launched its Disney+ streaming service, rose 0.72% to $149.36 in premarket trading.
5. -- Fed Chairman Jerome Powell and Palo Alto Earnings Are Monday Highlights
The economic calendar in the U.S. Monday includes a speech from Federal Reserve Chairman Jerome Powell at the Greater Providence Chamber of Commerce annual dinner in Providence, Rhode Island, at 7 p.m. ET.
Later in the Thanksgiving-shortened week, reports are expected from Deere (DE) - Get Report , HP Inc. (HPQ) - Get Report , Best Buy (BBY) - Get Report , VMware (VMW) - Get Report , Dollar Tree (DLTR) - Get Report , Abercrombie & Fitch (ANF) - Get Report and Dick's Sporting Goods (DKS) - Get Report .