U.S. stocks ended just about flat ahead of the long Easter weekend, while European and Asian stocks dipped. The Dow Jones Industrial Average gained just 0.1%, while the S&P 500 was off by a mere 0.04% at Thursday’s close.
As we head into the new week, investors should keep tabs on General Motors Company (NYSE:GM), Credit Suisse Group AG (ADR) (NYSE:CS) and Cal-Maine Foods Inc (NASDAQ:CALM).
Here’s why these companies might be on the move Monday:
General Motors Company (GM)
General Motors made two major announcements over the weekend: the recall of one of its newest vehicles, and the launch of a $200 million sports racing investment.
Over the weekend, General Motors recalled about 3,200 of the automaker’s 2016 Chevrolet Malibus in the U.S. and Canada. The move was made to secure two weld studs located in the front and rear ends of the car’s airbag assemblies that may currently be loose.
No crashes or injuries have been reported; General Motors discovered the defect during a routine test. The company will replace the airbag assemblies of the new vehicles at no additional cost.
GM also unveiled its Powertrain Performance and Racing Center — a $200 million facility features cutting-edge technology designed to benefit the motorsports industry.
However, the real driver for GM this week could be its recent drop below its 200-day moving average. But technical support does reside just about 3% lower at its 50-day MA.
Credit Suisse Group AG (ADR) (CS)
The financial services company is settling a lawsuit with the National Credit Union Administration for the role it played in the Wall Street crisis.
Credit Suisse was accused of selling “toxic” mortgage-backed securities to credit unions that proceeded to fail in the 2013 lawsuit. The company is shelling out more than $29 million to settle these claims with the agency.
Additionally, Credit Suisse revealed the details of its CEO’s salary and compensation in its latest annual report. In 2015, new boss Tidjane Thiam netted 18.9 million Swiss francs ($19.4 million) in cash and stock awards.
Cal-Maine Foods Inc (CALM)
The egg producer’s stock could be on the move following the release of its fiscal third-quarter results.
CALM reported earnings of $1.33 per share on revenues of $449.8 million, with the former number recording a big beat against expectations of 99 cents per share, but the latter falling under Wall Street’s pbar of $463.5 million.
That earnings figure was up nearly 27% year-over-year, and was driven primarily by higher egg selling prices from the year-ago period.
CALM stock was set to open Monday’s trading slightly higher.
