Stocks were mostly higher Monday ahead of a busy week filled with earnings from the likes of tech giants
and
Apple
,
a policy meeting of the Federal Reserve, and the monthly U.S. jobs report.
was rising 17% after the financial-technology company reported its first-ever quarterly profit on revenue of $594.25 million.
was forecast by analysts to report break-even fourth-quarter earnings on revenue of $572 million.
Shares of
fell 6.2% after
terminated its acquisition of the robot vacuum maker, with the companies saying there was “no path to regulatory approval for the deal.” IRobot said it would be laying off 31% of its employees and that Chairman and CEO Colin Angle was stepping down. Amazon stock was up 1%.
rose 2.7%. The electric-vehicle maker said it expects to spend $10 billion on new plants and equipment in 2024, equivalent to about 8.9% of 2024 sales estimated by Wall Street. In 2023,
spent 9.2% of sales on new plants and equipment.
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was rising 5% after the agriculture company said its financial results wouldn’t be materially impacted by intersegment sales, which are being investigated. The company said it expects to report 2023 earnings above $6.90 a share.
confirmed it was acquiring
for $3.8 billion in a tie-up up of portable-building companies. McGrath shareholders will receive for each of their shares either $123 in cash or 2.8211 shares of WillScot Mobile Mini common stock under terms of the cash-and-stock deal. WillScot Mobile fell 1% and
rose 9.7% to $122.58.
Shares of
were down 7.4% to $11.55 after shares of the renewable electric power company were cut to Underperform from Neutral at BofA Securities and the price target was reduced to $10 from $16. The analysts expect
to post revenue of $1.4 billion in 2024, a decline of 3% from a year earlier, and 3% growth in 2025.
Philips
,
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the Dutch maker of Sonicare toothbrushes and Norelco shavers, said it would halt the sales of new sleep-therapy devices in the U.S. until the terms of a consent decree with the Food and Drug Administration have been met. The company said it recorded a $393 million provision in the fourth quarter for “remediation activities, inventory write-downs and onerous contract provisions” related to the consent decree. U.S.-listed shares of Philips declined 5.5%.
was up 7.5% to $17.08 after BofA Securities raised its recommendation on shares of the provider of database information for corporate sales and marketing teams to Buy from Neutral and increased the price target to $25 from $20.
Boeing
’s
737 MAX 9 jet resumed service, about three weeks after the Federal Aviation Administration grounded the aircraft following the midair blowout of an emergency door plug on an
flight. Alaska Air resumed flying the aircraft on Friday after inspections were completed. A United Airlines flight from Newark, N.J., to Las Vegas flew Saturday on a MAX 9.
shares were down 0.2%.
Chinese property developer
Group has been ordered into liquidation more than two years after its debt struggles kicked off a crisis in the Chinese property sector. The company was ordered to liquidate with more than $300 billion in liabilities by a Hong Kong court on Monday, having failed to deliver on a restructuring plan as intended after a court reprieve in December.
was once China’s biggest property developer by sales. Shares of the company have declined 90% over the past 12 months.
Earnings reports are expected Monday from
Nucor
,
F5 Inc.
,
and
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