Stock Futures Fall Amid Rising Treasury Yields

Stock futures are in decline on Monday as equities continue to suffer from rising Treasury yields and concerns about higher interest rates. This comes after a losing week for the market. Wall Street braces for the busiest week of the earnings season, with major tech companies such as Microsoft, Alphabet, Amazon.com, and Meta Platforms set to report.

Roche Holding Acquires Telavant Holdings for $7.25 Billion

Roche Holding (RHHBY) has agreed to purchase Telavant Holdings, a developer of a drug for people with inflammatory bowel disease. The deal, worth up to $7.25 billion, involves Roivant Sciences (ROIV) and Pfizer (PFE). With this acquisition, Roche, the Swiss drugmaker, will gain the rights to develop, manufacture, and commercialize drug candidate RVT-3101 in the U.S. and Japan. Roivant Sciences shares increased by 14% in premarket trading, while Pfizer saw a 0.5% rise.

Textainer Group Holdings to be Acquired by Stonepeak for $2.1 Billion

Shipping-container lessor Textainer Group Holdings (TGH) has agreed to be acquired by infrastructure investor Stonepeak for approximately $2.1 billion. Under the terms of the deal, Textainer shareholders will receive $50 per share in cash. The stock, which closed at $34.15 on Friday, surged 42% to $48.55 in premarket trading. With Textainer's debt factored in, the enterprise value of the deal is around $7.4 billion.

Royal Phillips Raises Sales Guidance, but ADRs Fall

Royal Phillips (PHG), a Dutch health-technology company, has raised its fiscal-year sales guidance. However, American depositary receipts of the company fell 2.4% after a 9% decline in order intake during the third quarter compared to the previous year.

Okta Reports Security Breach in Support System

Upcoming Earnings Reports

Several companies are set to release their earnings reports this week. On Monday, we can expect reports from Cadence Design Systems (CDNS), Logitech (LOGI), Cleveland-Cliffs (CLF), and Whirlpool (WHR). Later in the week, we anticipate reports from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META), Intel (INTC), Visa (V), Mastercard (MA), International Business Machines (IBM), Boeing (BA), Merck (MRK), Coca-Cola (KO), Texas Instruments (TXN), Verizon Communications (VZ), General Motors (GM), General Electric (GE), 3M (MMM), T-Mobile US (TMUS), United Parcel Service (UPS), Honeywell (HON), Bristol Myers (BMY), Exxon Mobil (XOM), Chevron (CVX), and AbbVie (ABBV).