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Last Updated, Feb 28, 2022, 2:35 PM
NIO, Novavax, Lockheed, Yandex, First Horizon: What to Watch in the Stock Market Today


Wall Street stocks fell and oil prices jumped as investors rushed to adjust to geopolitical developments including new sanctions against Russia. Here’s what we’re watching in Monday’s trading:

  • Electric-vehicle maker NIO plans to list shares in Hong Kong, joining other Chinese businesses pursuing an additional listing outside New York amid the threat of being forced off American exchanges.
  • Defense stocks were ticking higher, including Northrop Grumman , Lockheed Martin, L3Harris Technologies and Raytheon Technologies . European nations have signaled a new push to build up their military strength and to send aid to Ukraine.
  • Shares of Yandex ,  a search-engine company that provides services in Russia, Ukraine and other countries in the region, dropped in morning trading.
  • British energy giant BP said Sunday it will exit its nearly 20% stake in Russian government-controlled oil producer Rosneft , days after it was pressured to unload the holding by U.K. officials.
  • Toronto-Dominion Bank said Monday that it is accelerating its long-term growth strategy in the U.S. by acquiring Tennessee-based First Horizon for $13.4 billion.
  • Berkshire Hathaway reported $90 billion in net earnings in 2021, a record, thanks in part to its giant stock portfolio. Berkshire owns 5.6% of Apple , a stake valued at $161.2 billion at the end of the year—up more than $40 billion from the year before.
  • Zendesk said it terminated its deal with Momentive Global , the parent of web-survey company SurveyMonkey, after its shareholders rejected the agreement at a stockholder meeting.
  • Novavax ,   Zoom Video Communications ,   HP ,   Workday ,   PubMatic  and  SmileDirectClub  are among the companies reporting earnings Monday.
  • London-listed shares of Russian companies plunged, inclduing Sberbank ,  the country’s largest lender,  Gazprom and  Rosneft .

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