General Motors Co. (NYSE: GM) shares rallied nearly 10% after the company entered into a long-term strategic relationship with Microsoft Corp. (Nasdaq: MSFT) to accelerate the commercialization of self-driving vehicles. As part of the relationship, Microsoft will join General Motors, Honda Motor Co. (NYSE: HMC) and institutional investors in a combined new equity investment of more than $2 billion in GM’s Cruise vehicles, bringing the post-money valuation to $30 billion.
Shares of GameStop Corp. (NYSE: GME) zoomed 51% following a trading halt as short-sellers continue to get hammered. The short interest in GameStop reached 138% of the shares available for trading last week, and continues to drive the stock up for its massive short squeeze.
Before the open: Bank of Hawaii (BOH), Cadence Bancorporation (CADE), Kimberly-Clark (KMB), OFG Bancorp (OFG)