U.S. futures indicated a lower opening Monday as traders await the Federal Reserve's decision on whether to increase interest rates. Other world markets saw losses in the trading day over fears of a U.K. "Brexit." Markets across Europe were down with several hours before the close. All of the Asian markets closed in the red, with both the Nikkei and the Shanghai Composite down more than 3%.
Walgreens Boots Alliance (WBA) announced that is has formally ended its relationship with Theranos. Walgreens said it will close all the care centers run by the blood-testing company. Controversy began last year for Theranos and its CEO Elizabeth Holmes after reports suggested that its blood-testing device did not provide accurate results. The chief health care commercial market development officer for Walgreens, Brad Fluegel, said in a statement that is was in the best interest for the customers to terminate the partnership. This comes after a number of test results were voided and the Centers for Medicare and Medicaid Services (CMS) rejected Theranos' plan of corrections.
Shares of Apple (AAPL) were down slightly in premarket trading ahead of its annual Worldwide Developers Conference on Monday. The tech giant is said to be focusing on Siri's potential inclusion in the company's Mac ecosystem as well as operating system upgrades. The conference is set to begin at 10 a.m. PT with a keynote address from CEO Tim Cook.
Symantec (SYMC) announced it will acquire cybersecurity company Blue Coat Systems for $4.65 billion in cash. CFO Thomas Seifert said in a statement that the transaction will create about $150 million in annual net costs synergies. Once the merger is complete, Blue Coat CEO Greg Clark will be appointed CEO of Symantec and will join the board. The cybersecurity company has been searching for a CEO since former CEO Michael Brown stepped down at the end of April following a disappointing quarter. The deal will be fund with cash on hand and $2.8 billion in new debt.
Yahoo (YHOO) shares were down in premarket trading after news that Verizon Communications (VZ) & AT&T (T) are set to make final round bids for Yahoo's core internet assets, according to Reuters. Yahoo will start reaching out to bidders as early as Monday to notify them whether they will make it to the next round, Reuters reported. Verizon's latest offer of $3.5 billion was on the low end of the second-round bids that came in last week, with several others at or above $5 billion. Yahoo hopes to conclude the auction by next month.
Both Walgreens and Apple are a holding in Jim Cramer's Action Alerts PLUS portfolio.
--Written by Anders Keitz