Here are five things you must know for Monday, Jan. 29:
1. -- Stocks Lower Ahead of Busy Earnings WeekU.S. stock futures traded lower on Monday, Jan. 29, while bond yields leaped to multi-year highs as investors prepped for a hectic week of earnings and economic data as well as the final policy meeting of the Federal Reserve under outgoing Chair Janet Yellen.
Contracts tied to the Dow Jones Industrial Average were down 45 points, while those tied to the broader S&P 500 declined 7.75 points. The Dow, S&P 500 and Nasdaq all finished at new highs on Friday, Jan. 26, despite data that revealed a slowing but steady U.S. economy in the fourth quarter.
Lockheed Martin Corp. (LMT) reported fourth-quarter adjusted earnings of $4.30 a share on revenue of $4.04. Analysts expected earnings of $4.04 a share on sales of $14.73 billion. The defense contractor also said it expects 2018 profit of $15.20 to $15.50 a share; analysts predicted $14.
Dr Pepper Snapple Group Inc. (DPS) shares surged 27.6% in premarket trading after agreeing to merge with Keurig Green Mountain.
The economic calendar in the U.S. on Monday includes Personal Income and Outlays for December at 8:30 a.m. ET.
2. -- Trump Considers Nationalizing 5G Network
Donald Trump's national security advisers have looked at building a 5G network that would thwart efforts by officials in China to gather intelligence on business and political activity through the monitoring of U.S. phone calls, according to a report from Axios. American officials also have considered nationalizing parts of the existing 5G network, according to the Axios report, amid increasing Trump administration concerns over the cyber security threats from China.
A memo seen by Axios described the 5G nationalization plan as "the 21st century equivalent of the Eisenhower National Highway System," but noted that the government was "neutral" on whether to build a new superfast network or have it made by private-sector providers such as AT&T Inc. (T) or Verizon Communications (VZ) .
American depositary receipts of Nokia Corp. (NOK) jumped 1.7% in premarket trading on Monday after the network equipment maker unveiled a new 5G chipset amid reports that the U.S. was looking to build its own 5G network.
3. -- Sanofi to Buy Ablynx
Sanofi SA (SNY) reached an agreement on Monday to buy Belgian biotech company Ablynx NV (ABLX) for approximately €3.9 billion ($4.83 billion), marking the second deal for the French drugmaker in less than a week.
Sanofi will buy all of Ablynx's outstanding shares, including convertible bonds, at €45 each in cash, in a deal that will expand the French pharmaceutical company's pipeline of rare blood disorder treatments. The deal has been unanimously approved by the boards of both companies and follow's Sanofi's agreement last week to acquire Bioverativ Inc. (BIVV) , a Waltham, Mass., maker of hemophilia treatments, for $11.6 billion on Jan. 22.
The deal comes after Ablynx rejected an unsolicited €2.6 billion bid from Danish drugmaker Novo Nordisk A/S (NVO) after Ablynx twice refused to enter talks.
American depositary receipts of Ablynx were rising 15.1% in premarket trading on Monday to $54.84.
4. -- Coincheck Gets Hacked
Japan's financial regulator said Monday it would inspect all cryptocurrency exchanges after hackers stole $530 million worth of digital money from the Coincheck exchange.
Coincheck said on its website Friday that it had halted sales and withdrawals of the currency, which is called NEM. It later added that it had restricted dealings in most other cryptocurrencies too.
Coincheck President said the company may seek financial assistance, according to Kyodo News service.
Reuters reported that Coincheck said on Sunday it would return about 90% with internal funds, though it has yet to figure out how or when.
5. -- Bruno Mars Triumphs at the Grammys
Bruno Mars won the album of the year Grammy Award for "24K Magic," capping an epic night for the pop star.
The award was Mars' sixth win at the awards show on Sunday, Jan. 28. He also won the top prizes for record and song of the year.
Kendrick Lamar won five awards, including a sweep of the rap categories.
This article has been updatedto include Lockheed earnings and merger of Dr Pepper Snapple and Keurig Green Mountain.
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