AT&T Inc. announced a deal to acquire DirecTV for $49 billion over the weekend, as the firm attempts to adapt to a quickly changing media landscape. Both businesses’ boards approved the agreement on Sunday, creating a company with 26 million pay-TV subscribers.

The deal comes shortly after Comcast Corp announced that it would buy Time Warner Cable for $45 billion, creating a mammoth telecommunications firm with about 30 million subscribers.

Top News

In other news around the markets:

  • On Sunday, Pfizer announced that it had increased its takeover bid for AstraZeneca to $116.6 billion, saying this would be its final offer. However, in the early hours of Monday AstraZeneca rejected the deal, sending its shares down roughly 13 percent as the possibility of an acquisition looked less likely.
  • Deutsche Bank is expected to issue 360 million new shares, which will total about $11 billion, in order to boost its capital buffers and gain market share. The Qatari royal family has agreed to buy 60 million shares and the remaining 300 will be offered to existing investors.
  • Tripoli suffered its worst violence since the 2011 war against Muammar Gaddafi over the weekend as armed militia stormed the nation’s parliament and demanded its suspension. While details about who was involved are unclear, the gunmen claimed to be loyal to a rebel army general. So far, there have been reports of 43 dead and more than 100 wounded as rival militias clash throughout Tripoli.
  • The Wall Street Journal reported that Google has begun talks about a possible acquisition of the live-video streaming company, Twitch. Such a deal would boost Google’s YouTube service, but Twitch, a June 2011 startup, is also considering raising its own capital rather than selling.

Asian Markets

Asian markets were lower with the exception of the KOSPI, which rose 0.08 percent. The NIKKEI was down 0.64 percent, the Shanghai composite lost 1.05 percent, the Shenzhen composite was down 0.70 percent and the Hang Seng index was down 0.04 percent.

European Markets

European markets were down across the board, the UK’s FTSE was down 0.67 percent and the eurozone’s STOXX 600 lost 0.83 percent. The German DAX lost 0.76 percent, France’s CAC 40 was down 0.72 percent and Italy’s MIB had the largest loss, down 2.65 percent.


Energy futures were on the rise with geopolitical tension around the world keeping crude supported. Brent futures were up 0.28 percent and WTI futures gained 0.63 percent. Gold and silver were up 0.51 percent and 1.20 percent respectively, but industrial metals were mixed. Copper gained 0.86 percent and zinc was up 0.29 percent, but tin lost 0.86 percent and aluminum was down 0.08 percent.


The euro was steady against the dollar at $1.3711, but the common currency gained 0.20 percent against the pound. The dollar fell 0.21 percent against the yen and 0.09 percent against the franc, but gained 0.18 percent against the Australian dollar.


Notable earnings released on Friday included:

  • Tsakos Energy Navigation (NYSE: TNP) reported first quarter EPS of $0.19 on revenue of $91.30 million, compared to last year’s EPS of $0.02 on revenue of $69.40 million.
  • Canadian Solar (NASDAQ: CSIQ) is expected to report first quarter EPS of $0.07 on revenue of $466.30 million, compared to last year’s loss of $0.10 on revenue of $263.61 million.

Pre-Market Movers

Stocks moving in the Premarket included:

  • Pfizer (NYSE: PFE) was up 2.16 percent in premarket trade after gaining 0.21 percent on Friday.
  • Avon Products (NYSE: AVP) gained 1.87 percent in premarket trade after rising 1.99 percent last week.
  • Walt Disney (NYSE: DIS) was up 0.21 percent in premarket trade after losing 1.90 percent over the past five days.
  • Carnival (NYSE: CCL) was down 0.76 percent in premarket trade after falling 0.78 percent on Friday.


Notable earnings releases expected on Friday include:

  • Campbell Soup Company (NYSE: CPB) is expected to report third quarter EPS of $0.59 on revenue of $2.00 billion, compared to last year’s EPS of $0.62 on revenue of $2.09 billion.
  • Urban Outfitters (NASDAQ: URBN) is expected to report first quarter EPS of $0.27 on revenue of $680.60 million, compared to last year’s EPS of $0.32 on revenue of $648.18 million.
  • Valspar Corporation (NYSE: VAL) is expected to report second quarter EPS of $1.04 on revenue of $1.11 billion, compared to last year’s EPS of $0.91 on revenue of $1.03 billion.


Monday’s economic calendar will be relatively quiet with notable releases including the Spanish trade balance, Hong Kong’s unemployment rate, the German house price index, and Singaporean GDP.

For a recap of Friday’s market action, click here.

Tune into Benzinga’s #PreMarket Prep show with Dennis Dick and Joel Elconin here.

Related Articles
  1. Budgeting

    Trunk Club Review: Is It Worth It?

    Take a close look at one of the best-known online clothing services in the country, and determine whether it's a good fit for your style and budget.
  2. Budgeting

    HelloFresh Review: Is It Worth It?

    Discover one of the world's most successful meal subscription services, and learn more about how the service operates and what it costs.
  3. Budgeting

    Just the Right Book Review: Is It Worth It?

    Take an in-depth look at Just the Right Book, a subscription service that delivers personalized book selections based on your reading history and preferences.
  4. Economics

    Can the Market Predict a Recession?

    Is a bear market an indication that a recession is on the horizon?
  5. Budgeting

    The Honest Company Bundles Review: Are They Worth It?

    Learn more about The Honest Company and its bundle subscription services, which deliver discounted diapers, formula and other baby products to your doorstep.
  6. Products and Investments

    The One Thing Your Portfolio Must Always Have

    Portfolio diversification is essential in any situation, but especially so as the market finally returns to fundamentals.
  7. Budgeting

    Blue Apron Review: Is It Worth It?

    Read about one of the top meal-kit delivery services in the United States, and learn more about what it offers and how much it costs.
  8. Budgeting

    Plated Review, Is It Worth It?

    Take a closer look at the ready-to-cook meal service, Plated, and learn how the company can help you take the hassle out of home cooking.
  9. Investing News

    How China's Economy is Now Like America's

    China's economy could take the global economy down with it; why that might be good news in the grand scheme.
  10. Investing News

    A 2016 Outlook: What January 2009 Can Teach Us

    January 2009 and January 2016 were similar from an investment standpoint, but from a forward-looking perspective, they were very different.
  1. What is the long-term outlook of the metals and mining sector?

    An industry agency council was established by the World Economic Forum in 2014 to serve as an advisory board on the future ... Read Full Answer >>
  2. What is the railroads sector?

    The railroads sector is comprised of publicly traded stocks for companies that operate railroad tracks and/or trains. Railroad ... Read Full Answer >>
  3. Who are Amgen Inc.'s (AMGN) main competitors?

    Biotech giant Amgen Inc (AMGN) bills itself as one of the first biotechnology firms. It was founded in 1980 and has grown ... Read Full Answer >>
  4. What's the most expensive stock of all time?

    Back in late August 2012, Apple’s (AAPL) stock price reached nearly $700 per share. The stock has since split but has yet ... Read Full Answer >>
Trading Center