Wall Street stocks fell and oil prices jumped as investors rushed to adjust to geopolitical developments including new sanctions against Russia. Here’s what we’re watching in Monday’s trading:
- Electric-vehicle maker NIO plans to list shares in Hong Kong, joining other Chinese businesses pursuing an additional listing outside New York amid the threat of being forced off American exchanges.
- Defense stocks were ticking higher, including Northrop Grumman , Lockheed Martin, L3Harris Technologies and Raytheon Technologies . European nations have signaled a new push to build up their military strength and to send aid to Ukraine.
- Shares of Yandex , a search-engine company that provides services in Russia, Ukraine and other countries in the region, dropped in morning trading.
- British energy giant BP said Sunday it will exit its nearly 20% stake in Russian government-controlled oil producer Rosneft , days after it was pressured to unload the holding by U.K. officials.
- Toronto-Dominion Bank said Monday that it is accelerating its long-term growth strategy in the U.S. by acquiring Tennessee-based First Horizon for $13.4 billion.
- Berkshire Hathaway reported $90 billion in net earnings in 2021, a record, thanks in part to its giant stock portfolio. Berkshire owns 5.6% of Apple , a stake valued at $161.2 billion at the end of the year—up more than $40 billion from the year before.
- Zendesk said it terminated its deal with Momentive Global , the parent of web-survey company SurveyMonkey, after its shareholders rejected the agreement at a stockholder meeting.
- Novavax , Zoom Video Communications , HP , Workday , PubMatic and SmileDirectClub are among the companies reporting earnings Monday.
- London-listed shares of Russian companies plunged, inclduing Sberbank , the country’s largest lender, Gazprom and Rosneft .
Read More:NIO, Novavax, Lockheed, Yandex, First Horizon: What to Watch in the Stock Market Today
2022-02-28 13:36:00