Stock futures are showing slight gains on Monday as Wall Street enters an abbreviated Thanksgiving holiday trading week. This comes after three consecutive weeks of gains, driven by investors’ belief that the Federal Reserve will not raise interest rates further.
Prominent Stocks in Focus Today
Microsoft (MSFT)
Microsoft CEO Satya Nadella announced that Sam Altman, the former CEO of OpenAI, will be joining Microsoft to lead a new advanced AI research team. Greg Brockman, who resigned from OpenAI on Friday after Altman’s dismissal, will also be hired by Microsoft. As Microsoft is the largest investor in OpenAI, this move highlights the company’s commitment to advancing AI technologies. Microsoft shares were up 2% in premarket trading.
General Motors (GM)
General Motors shares fell by 0.2% following the resignation of Kyle Vogt, CEO of Cruise, the automaker’s self-driving technology and taxi business. Vogt’s departure comes after a Cruise accident in early October, which led to the suspension of the company’s license to operate self-driving taxis in California.
Zoom Video Communications (ZM)
Analysts are predicting that Zoom Video will report third-quarter earnings of $1.08 per share on revenue of $1.12 billion. While Zoom experienced significant growth during the Covid-19 pandemic, the company has been exploring additional avenues beyond its flagship web meeting service. However, it is anticipated that Zoom will report its sixth consecutive quarter of single-digit revenue growth. Zoom Video will release its earnings report after the market closes today.
Other Expected Earnings Reports This Week
In addition to the companies mentioned above, earnings reports are also expected this week from:
- Agilent Technologies (A)
- Keysight Technologies (KEYS)
- Trip.com (TCOM)
- Nvidia (NVDA)
- Analog Devices (ADI)
- Autodesk (ADSK)
- Best Buy (BBY)
- HP Inc. (HPQ)
- Lowe’s (LOW)
- Medtronic (MDT)
- Dick’s Sporting Goods (DKS)
- Deere (DE)
