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HomeMarketApple, Alibaba, NIO, and More Stock Market Movers Monday

Apple, Alibaba, NIO, and More Stock Market Movers Monday

Apple has sped up plans to move part of its production out of China, The Wall Street Journal reported. (Photo by NICHOLAS KAMM/AFP via Getty Images)

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Stock futures traded lower Monday as investors remained keyed on interest rate policy from the Federal Reserve and as a surge in China stocks over a loosening of Covid-19 restrictions in the country failed to boost U.S. equities.

Here are some stocks that could make moves Monday:

Apple
(ticker: AAPL) has sped up plans to move part of its production out of China, home to the world’s largest iPhone factory, according to a report from The Wall Street Journal.

Citing people involved in the discussions, the Journal said Apple has been telling suppliers to plan more actively for assembling its products elsewhere in Asia, especially India and Vietnam, in an effort to lower its dependence on Taiwanese assemblers led by Foxconn (2354: Taiwan).

Apple
shares dipped 0.2% in premarket trading.

Chinese stocks rallied Monday after cities across the country loosened some of their strictest measures to control the spread of Covid-19. American depositary receipts of
Alibaba
(BABA) rose 5.2%,
Bilibili
(BILI) jumped 15.5%,
XPeng
(XPEV) gained 11.5% and
NIO
(
NIO
) was rising 7.2%.

Johnson & Johnson
(JNJ) said it doesn’t intend to make an offer for
Horizon Therapeutics
(HZNP), which last week it was in preliminary takeover negotiations with three major pharmaceutical companies, in what could be the biggest healthcare deal of 2022.  

Earnings reports to watch this week include those from
GameStop
(GME), 
Costco Wholesale
(COST),
Chewy
(CHWY) and
Broadcom
(AVGO).

Write to Joe Woelfel at joseph.woelfel@barrons.com

Credit: marketwatch.com

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