Wall Street looks to corporate earnings and January jobs report

Wall Street

Stock futures point to a mixed start to final trading session of the month

U.S. stock futures markets look likely to open mixed on Monday, ahead of what will be a busy week for Wall Street, with traders digesting dozens of corporate earnings results and getting several closely watched economic reports.

The main economic data comes Friday morning, when the Labor Department publishes its January jobs report.

Economists expect the economy to have added around 175,000 jobs last month, according to figures compiled by Bloomberg. The unemployment rate is expected to hold steady at 3.9%.

Earnings season continues to roll along this week, with more than 100 companies in the S&P 500 are due to report earnings this week.

Companies on tap to report include Google’s Alphabet (NASDAQ: GOOG), Facebook’s Meta (NASDAQ: FB), Amazon (NASDAQ: AMZN), AMD (NASDAQ: AMD), Qualcomm (NASDAQ: QCOM), and Ford (NYSE: F).

As of 5:10 a.m. ET, futures tied to the blue-chip Dow were down 55 points, or 0.16% to 34,540. The tech-heavy Nasdaq 100 futures gained 79.25 points, or 0.55% to 14,512.25 while S&P 500 futures were unchanged.

Spotify addresses controversy surrounding podcast host Joe Rogan

Spotify Technology (NYSE: SPOT) chief executive Daniel Ek says the company is working to add a content advisory to podcasts that discuss Covid-19, following a week of criticism for allowing Joe Rogan and other podcasters to spread misinformation about the pandemic.

Ek said in a press release on Sunday that Spotify has “a critical role to play in supporting creator expression while balancing it with the safety of our users.”

He added that the company would add a content advisory notice to any podcast episode that includes a discussion about Covid-19, directing listeners to a hub with facts and information about the pandemic.

The streaming service currently is the host of the podcast The Joe Rogan Experience, which has been called out for repeatedly spreading misinformation about the pandemic.

Last week, musicians Neil Young and Joni Mithcell asked Spotify to remove their music due to Rogan’s controversial podcasts about vaccines and the pandemic.

Citrix Systems reportedly nears deal to sell itself for $13 billion

Citrix Systems (NASDAQ: CTXS) is nearing a deal to sell itself to Elliott Management Corp and Vista Equity Partners for about $13 billion, the Wall Street Journal reports.

The Journal, citing people familiar with the matter, said Elliott Management and Vista Equity Partners are nearing a deal to acquire Citrix for $104 a share.

According to the sources, the deal could be announced as soon as early this week, assuming the talks don’t drag out or collapse.

Citrix makes software that allows employees of companies to access their network remotely. In its most recent fiscal quarter, the company reported operating income of $84.5 million, down from $128.3 million a year ago.

As of writing, Citrix stock was marked $3.55, or 3.36% lower to $102 per share in Monday’s premarket trading session.