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BlackRock (BLK), which bought HPS Investment Partners in exchange for 12 billion dollars of stock, is also expected to announce earnings and revenues growth. After the markets close, Salesforce (CRM) will report its results. Investors should be aware of the following today.
1. US Stock Futures Flat After S&P 500, Nasdaq Hit All-Time Highs
S&P 500 and Nasdaq futures are little changed after each index closed Monday trading at an all-time high. Dow Jones Industrial Average (DJIA) futures are nearly flat as well after the index dropped 0.3% during the previous session. Investors will pay attention to today’s publication of the job openings data for October, ahead of this Friday’s much-anticipated U.S. unemployment report. Bitcoin (BTCUSD), is currently trading at $95,000. Crude futures and gold are both up. 10-year Treasury rates are also slightly higher.
2. U.S. Steel Stock Stumbles After Trump Again Promises To Block Nippon Deal
U.S. Steel stock (X) is 7% down in premarket trade as Donald Trump, the President-elect Donald Trump has vowed not to allow Nippon Steel’s $14 billion planned acquisition of American competitor U.S. Steel. Trump reiterated on Truth Social his earlier opposition to this deal. This has received pushback from both President Joe Biden and the Vice-President. David Burritt, U.S. Steel’s Chief Executive Officer David Burritt said the company will have to shut down plants in Pittsburgh and leave its HQ if it does not receive the $3 billion that Nippon Steel has promised if this deal is approved.
3. BlackRock to Acquire HPS Investment Partners For $12 Billion Stock
BlackRock (BLK), a global asset management firm, announced it was acquiring HPS Investment Partners Inc. for around $12 billion of its stock. BlackRock says the deal is beneficial to it “deliver integrated solutions across public and private markets,” HPS Investment Partners manages $148 billion worth of client assets. BlackRock’s shares dropped initially in premarket trade, but have recently moved slightly higher.
4. Salesforce To Report Q3 Earnings After Bell
Investors are awaiting the release of Salesforce’s (CRM), third quarter earnings after today’s markets have closed. Visible Alpha’s analysts expect Salesforce to report Q3 revenues of $9.35 billion – a 7.5% increase over last year – and profits of $1.41 or $1.45 per shares, up $1.22 or $1.25. Visible Alpha has tracked 24 analysts, and 19 of them have an understanding about the business. “buy” Ratings are based on five stars. “hold” ratings.
5. Judge Again Strikes Down Tesla CEO Musk's Pay Package
The Delaware Judge has for the second time stricken down a massive pay package that was given to Tesla’s (TSLA), CEO Elon Musk. It confirms an earlier decision invalidating the pay package which valued over $50 billion. In June, a vote by shareholders approved the package. “The court’s decision is wrong, and we’re going to appeal,” Tesla spoke on X – the social network owned by Musk. Tesla’s shares have fallen less than 1% during premarket trading.
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