Check out the companies that make headlines before the bell. Northern Trust – The Wall Street Journal cites people familiar with the issue, and reported that after the Wall Street Journal, stocks rose more than 6%, with New York Mellon Bank approaching Northern Trust last week to communicate interest in a merger between the two rivals. The report also says BNY is considering the next steps. This could include a formal bid for the Northern Trust. However, people warned that consultations might not bring about a deal. Fiserv – The financial services company’s shares rose almost 5% after revealing plans to expand its presence in the Stablecoin space. The company plans to launch a Stablecoin and Digital-Asset platform for banking clients. They also blocked partnerships with Circle and PayPal to promote these efforts. Circle’s stocks increased by 5%, while PayPal rose by almost 1%. Novo Nordisk – Pharmaceutical stocks plummeted more than 5% after the latest results of the company’s next-generation obesity drug Cagrisema, suggesting a clear advantage over Eli Lilly’s Zepbound. The company also announced that it has ended its collaboration with HIMS & HERS Health, citing compound interest and marketing concerns. HIMS stocks fell approximately 20%. ESTEE LAUDER – Cosmetics stock won 2% after the Deutsche Bank upgrade. The bank currently has the highest price target on Wall Street for analysts voted by LSEG. Doordash – Food delivery companies rose 2%. Raymond James upgraded his shares from outperform to strong buys. The company said the possibility of synergy with Deliveroo, a British food delivery service that Doordash has acquired, is underestimated. Energy Stocks – The energy company’s shares were high after Iranian parliament closed the Strait of Hormuz, an important trade route for crude oil. The US has since urged China to prevent Iran from closing its routes. Exxon Mobil rose nearly 2%, while Marathon Petroleum and Conocophillips rose more than 1% each. Nuclear energy-related items such as Centrus Energy and Uranium Energy Corp. also earned 3% and 1%, respectively. Tesla – After Tesla rolled out its Robotaxi service in Austin, Texas over the weekend, the stock won nearly 1%. Wedbush analyst Dan Ives said getting a taxi exceeded his expectations. RTX, Northrop Grumman, Kratos Defense and Security – Defense stocks checked high on Monday after the US raided Iran’s nuclear facility. RTX and Northrop Grumman shares added about 1% each. Military Technology Stock Kratos won 2%. – CNBC’s Alex Hurling, Jesse Pound, Sarah Minh, Christina Cheddar Burke and Michelle Fox reported.
