US stocks are seen joining global markets to head lower on Monday and several stocks are in focus before the bell including Nielsen Holdings plc (NYSE:NLSN).
Its shares jumped over 10% in pre-market deals to stand at US$24.25 after news of a move from activist investor New York-based Elliott Management, which now owns over 8% of the group.
Nielsen is a huge data group that measures how people shop and consume media. It has been hit by the rapidly changing retail environment. Elliott is now going to push the firm to sell itself, it emerged on Sunday, according to people familar with the situation.
Elsewhere, pharmaceuticals giant Bayer AG (ETR:BAYN) saw shares plunge almost 13% to US$81.21 on Monday after a US court awarded groundskeeper Dewayne Johnson US$289mln in a cancer ruling related to the common weedkiller Roundup. Monsanto, acquired by Bayer for US$62.5bn in 2017, is facing 5,000 similar lawsuits across the US over mounting evidence that the weedkiller contains carcinogenic chemicals.
Bayer is expected to appeal the verdict.
In other news, VF Corp (NYSE:VFC), which owns famous brands Lee and Wrangler, is set to spin off its denim business into an independent public company, the company announced Monday. The group reportedly wants to focus on its more profitable brands such as Vans shoes and The North Face. VF Corp shares closed 0.77% up on Friday at US$96.29.
Elsewhere, Sysco Corp (NYSE:SYY) shares shot up over 5% before the bell as the food distribution giant reported fourth quarter profit and revenue, which beat expectations.
Net income for the three months to June 30 rose to US$448.9mln from US$305.2mln in the same period a year ago. Adjusted earnings per share came to US$0.94 beating consensus of US$0.93.
Revenue rose 6.2% to US$15.32bn, above the consensus of US$15.30bn.