Updated from 5:59 a.m. EST
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Here are five things you must know for Monday, Nov. 14:
1. -- Samsung Electronics (SSNLF) agreed to buy Harman International (HAR) for $8 billion in a move that will boost its competitiveness in the fast-growing automotive electronics technology business.
The Suwon, South Korea-based conglomerate will pay $112 a share in cash for Harman, whose offerings including car systems, audio and visual products and other connected products. Harman's shares closed at $87.65 on Friday.
Siemens has offered $37.25 a share in cash for the Wilsonville, Ore.-based company, a 21% premium over Friday's closing price. The acquisition is part of what the company calls "Siemen's Vision 2020," in which it identified software as a key growth area and extends its Digital Enterprise Software portfolio.
Siemen's shares rose 1.5% in Frankfurt. Shares of Mentor Graphics rose 19.3% in premarket trading Monday in New York after ending Friday's session up 1.79% at $30.68.
Mentor Graphics makes software for designing semiconductors, offering automation software ranging from integrated circuit and system-on-chip design for automotive electronics as companies continue to scramble for a piece of the self-driving car market.
"With Mentor, we're acquiring an established technology leader with a talented employee base that will allow us to supplement our world-class industrial software portfolio. It will complement our strong offering in mechanics and software with design, test and simulation of electrical and electronic systems," said Klaus Helmrich, a member of the managing board of Siemens.
3. -- U.S. stock futures turned mixed on Monday after trading higher earlier in the session.
European stocks came off their highs as it looked as if equity markets would resume their global rally into a second week following Donald Trump's victory last week in the race for the U.S. presidency.
The Dow Jones Industrial Average closed on Friday at a record 18,847.66.
Asian stocks ended Monday's session mixed. Japan's Nikkei 225 index jumped 1.7% as the yen weakened.
Oil prices in the U.S early Monday fell 1.4% to $42.80 a barrel. Gold rose slightly to $1,224.40 an ounce.
The economic calendar in the U.S. on Monday is bare but Federal Reserve officials will be making the rounds. Dallas Fed President Robert Kaplan will participate in a Q&A at the Wichita Falls Annual Economic Forum in Wichita Falls, Texas, at 1:20 p.m. EST, Richmond Fed President Jeffrey Lacker will participate in discussion on the natioanl debt at Washington College in Chestertown, Md., at 4:30 p.m., while San Francisco Fed Bank President John Williams will take part in a panel discussion at the Bay Area Council in San Francisco at 6 p.m.