Engineering company McDermott International said it would file under Chapter 11 of the bankruptcy laws in an effort to eliminate more than $4.6 billion of debt via an equity swap.

U.S. stock futures rise Monday, getting a boost from signs of further progress in U.S.-China trade talks; Alphabet, AT&T, Walgreens and Beyond Meat report earnings; LVMH, the owner of Louis Vuitton, confirms that it approached Tiffany with an acquisition offer.

The company also hired Evercore to help sell Lummus, about which MDR received unsolicited inquiries.

California Resources rises after dismissing reports it was thinking of restructuring and had hired advisers.

McDermott International skyrockets after the engineering and construction company says it has received unsolicited interest to acquire all or part of Lummus Technology, which has been valued at $2.5 billion.

Sequoia Capital and Y Combinator have told startups that cutting costs is a priority.

Elon Musk will soon allow Dogecoin to purchase SpaceX merchandise.

The theme park company has opened Guardians of the Galaxy: Cosmic Rewind and not everyone is happy despite the ride getting wonderful reviews.

Aurora is slashing its production capacity as it builds a runway toward positive Ebitda a year from now.