US stock futures were rising Monday to kick off a week in which the Federal Reserve's monetary-policy decision likely will take center stage.
These stocks were poised to make moves Monday:
Tesla fell 1.2% to $440.40 ahead of the opening bell after being downgraded at Morgan Stanley. Andrew Percoco, the bank's new analyst covering the electric-vehicle maker, downgraded the stock to Equal Weight from Overweight, citing factors including slower EV adoption and a volatile trading outlook for the next 12 months. Percoco hiked his price target to $425 from $410, although that implies Tesla could fall 6.6% from its close Friday of $455. Fellow EV maker Lucid, which was downgraded to Underweight from Equal Weight at Morgan Stanley, dropped 3.5%. Rivian Automotive fell 3.3%.
Netflix was up 1%. President Donald Trump said Sunday that the streaming giant's $72 billion deal to buy Warner Bros. Discovery "could be a problem" because it would give Netflix a much larger market share. Wall Street has been worried that Netflix may end up overpaying for Warner Bros. Discovery, so the prospect of the White House scuttling the acquisition probably is good news for the streamer's shareholders. Warner Bros. Discovery stock was down 1.7% on Monday.
Confluent surged 28% to $29.52. International Business Machines is in advanced talks to buy the data-infrastructure company for about $11 billion, The Wall Street Journal reported Sunday, citing people familiar with the matter. IBM and Confluent didn't immediately respond to a request for comment from Barron's. IBM shares rose slightly.
Used-car retailer Carvana jumped 8.7%, building materials provider CRH gained 6.8%, and HVAC and plumbing company Comfort Systems USA climbed 1.9%. The three stocks will be joining the S&P 500 on Dec. 22, as part of the benchmark index's quarterly rebalancing, S&P Dow Jones Indices said Friday.
Crypto stocks were rising Monday with Bitcoin up 3.1% over the past 24 hours. Major investor Strategy added 2.3%, while digital-asset exchange Coinbase Global was up 2.1%, and online trading platform Robinhood Markets gained 1.9%.
Homebuilder Toll Brothers is set to report earnings for its fiscal fourth quarter after Monday's closing bell.
Academy Sports & Outdoors, AutoZone, Campbell's, Casey's General Stores, Cracker Barrel Old Country Store, GameStop, Chewy, Adobe, Oracle, Synopsys, Ciena, Broadcom, Costco Wholesale, lululemon athletica, and RH are all expected to report earnings later this week.
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