U.S. Stocks to Watch: Occidental Petroleum, Tesla, Nvidia, Intel, Electronic Arts, Merus, and More

Dow Jones
09/29

Stock futures were rising Monday, gold prices soared and the dollar slid as a possible government shutdown loomed over Wall Street.

These stocks were poised to make moves Monday:

Occidental rose 1.2% after a report said the oil company was in talks to sell its OxyChem division for $10 billion to an unknown buyer, creating one of the world's largest stand-alone petrochemicals companies. Occidental's's divestment could be announced in the coming two weeks, the Financial Times reported, citing people familiar with the matter.

Nvidia rose 0.9% in premarket trading after the chip maker ended Friday's session with a gain of 0.3%. Nvidia recently signed deals with OpenAI, Alibaba and Microsoft. Coming into Monday, shares have closed down 3% over the past five days, but remain up 33% this year amid ever-increasing demand for its artificial-intelligence semiconductors.

Merus NV soared 38% to $95.20 after larger biotech peer Genmab said it planned to buy the Dutch drugmaker for $8 billion, or $97 a share, in cash. Merus' pipeline includes a promising head and neck cancer drug and is "a compelling strategic fit" to Genmab's antibody therapies and oncology portfolio, Genmab said in a statement. The deal is expected to close by the first quarter of 2026. Genmab's American depositary receipts fell 3.5%.

Electronic Arts was falling 1.1% after jumping nearly 15% on Friday to $193.35, a record high, following a report from The Wall Street Journal that said the videogame maker was close to a deal that would take it private. The deal for EA -- the maker of Madden NFL and the Sims series -- would be valued at roughly $50 billion and likely would be the largest leveraged buyout of all time, the Journal reported, citing people familiar with the matter.

Intel fell 1.6% in the premarket session after closing up 4.4% on Friday and 20% the past week, making it the best weekly performer in the S&P 500. Lifting shares of the chip maker was a report from Bloomberg that Intel had approached Apple asking for an investment, and a report from The Wall Street Journal that said Intel had approached $Taiwan Semiconductor Manufacturing(TSMWF)$ as well.

Shares of electric-vehicle maker Tesla were up 0.8% ahead of the opening bell. Tesla rose 4% on Friday. The company is expected to issue third-quarter deliveries this week, with Wall Street projecting about 447,000, down about 3% from a year earlier.

Earnings reports are expected Monday from Carnival, Jefferies Financial, Progress Software, and Vail Resorts.

Earnings are expected later in the week from Nike, Paychex, Lamb Weston, United Natural Foods, RPM International, Acuity, Conagra Brands, and Cal-Maine Foods.

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