U.S. markets were ticking up slightly in premarket trading Monday, as oil prices climbed about 0.4% to $44.64 a barrel.
Industrial giant Honeywell (HON) appears to be unveiling a roughly $3 billion deal, including debt, for JDA Software, the Wall Street Journal reported Sunday. The deal fits well with Honeywell's recent strategic shift into software, as roughly one half of the Honeywell's 23,000 engineers are already engaged in software rather then the firm's more traditional machinery operations, according to the report. Honeywell shares are up roughly 12% in 2016.
David Tepper, billionaire manager of hedge fund Appaloosa Management, unveiled in 13-F filing with the Securities and Exchange Commission Friday that his fund has raised its stake in Western Digital, while cutting positions in Facebook (FB) and Delta Air Lines (DAL) , which were worth roughly $185 and $400 million, respectively, at the end of the second quarter. (Facebook shares are held in Jim Cramer's Action Alerts PLUS charitable trust.
Facebook shares of which are up roughly 20% on the year, while Delta has been struggling, with more than a quarter of its market cap vanishing in 2016. Meanwhile, shares of rival airlines United (UAL) and Southwest (LUV) are down roughly 17% and 15%, respectively, over the same period.
Shares of the familiar oil-and-gas giants were ticking up before the opening bell as a rally on crude continues in August. Shares of Houston-based Chesapeake Energy (CHK) and offshore drilling giant Transocean (RIG) were each up about 2% before the opening bell.