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Goldman forecast boosts oil, but stock don't follow

IN THE NEWS TODAY

The old Wall Street adage "sell in May and go away" has not played out in the past few years, but it's certainly doing so in 2016. The Dow and S&P 500 are on track for their biggest monthly loss since January. U.S. stock futures were searching for direction to start the week. (CNBC)

Oil prices surged this morning, on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs (GS) said the market had ended almost two years of oversupply and flipped to a deficit. U.S. crude lost about 1 percent Friday, but was up for the fifth straight week. (Reuters)


Pfizer (PFE) will buy Anacor Pharmaceuticals (ANAC) in a deal valued at $5.2 billion, net of cash, for access to Anacor's non-steroidal topical gel to treat eczema. The price is a 55 percent premium to Anacor's closing stock price on Friday. (Reuters)

Berkshire Hathaway (BRK.A) has offered to be a potential finance partner for fellow billionaire Dan Gilbert's bid to buy Yahoo (YHOO), Berkshire Chairman and CEO Warren Buffett confirmed to CNBC. Gilbert is the chairman of Quicken Loans and the owner of the NBA's Cleveland Cavaliers.

Berkshire has taken a new stake in Apple, according to a Securities and Exchange Commission filing. Buffett told CNBC the investment was made by one of his lieutenants. Berkshire upped its Buffett-led investment in IBM.

Gannett (GCI), owner of USA Today, has increased its bid for Tribune Publishing (TPUB) to $15 per share in cash from the prior $12.25 per share, after reviewing Tribune's latest quarterly filing. The new offer is worth $479 million, excluding assumed debt.

Apple (AAPL) CEO Tim Cook met some of China's hottest app developers and used a Didi Chuxing car to visit an Apple's store, after arriving in Beijing for a charm offensive. Apple on Friday announced a $1 billion investment in Didi, a rival to Uber in China. (CNBC)

Alphabet's (GOOGL) Google unit reportedly faces a record $3.4 billion European fine, which would be assessed in the next several weeks. It relates to alleged promotion of Google's shopping service in internet searches at the expense of rivals. (Sunday Telegraph)

Amazon (AMZN) is expected to roll out private label food brands over the next several weeks. Under the names Happy Belly, Wickedly Prime, and Mama Bear, the new items, including nuts, spices, tea, coffee, baby food, and vitamins, could go on sale later this month or early June. (WSJ)

Microsoft (MSFT) is reportedly considering a sale of its Nokia mobile phone brand to Taiwan's Foxconn, as the tech giant overhauls its mobile business. Foxconn is Apple's main iPhone assembler. Last month, Foxconn agreed to buy Japan's Sharp for $3.5 billion. (VTech)

An affiliate of Caesars Entertainment (CZR) is considering a sale of its mobile and social gaming business. The sale could bring in more than $4 billion. Caesars is working with investment bank Raine Group. (WSJ)

Verizon (VZ) and union officials plan to restart negotiations tomorrow, after a weekend meeting with Labor Secretary Tom Perez. Nearly 40,000 employees have been on strike for about a month. (USA Today)

Facebook (FB) CEO Mark Zuckerberg plans to meet with conservative leaders this week to address allegations of political bias in Facebook newsfeed stories. The group includes commentator Glenn Beck. (Politico)

For nearly a year now, Donald Trump has continued to beat all expectations. However, according to a key group of U.S. business leaders, the Trump train will be permanently derailed come November. They largely believe Hillary Clinton will become the next president. (CNBC)

Donald Trump, the presumptive GOP presidential nominee, is weighing in on the Brexit debate, saying, "If I were from Britain, I would probably not want [the EU]." Trump made his remarks on Piers Morgan's morning show in the U.K. (CNBC)

President Barack Obama denounced the tenor of Trump's campaign without ever mentioning the billionaire businessman's name. "Building walls" is not the way of the future, said Obama, during Sunday's commencement speech at Rutgers University. (NBC News)

BY THE NUMBERS

The National Association of Home Builders is out with its monthly sentiment figures at 10 a.m. ET. The index is expected to increase to 59 for May from April's 58 reading.

Former Fed Chairman Ben Bernanke joins Minneapolis Fed President Neel Kaskhari at a symposium panel discussion on "Ending Too Big To Fail" from 3 p.m. ET to 5 p.m. ET.

STOCKS TO WATCH

Terex (TEX) will sell its Material Handling & Port Solutions unit to Finland's Konecranes for $1.27 billion, in a deal that cancels the all-stock merger agreement the two crane makers struck last August. Terex becomes a 25 percent shareholder in Konecranes and retains its ability to talk to rival suitors.

Williams Companies (WMB) filed a lawsuit against Energy Transfer Equity (ETE) in an attempt to save a prior merger agreement between the two. The two pipeline companies struck a $33 billion merger deal last September, but Energy Transfer wants to terminate the agreement over doubts about certain tax issues.

Tribune Publishing (TPUB) has been urged by major shareholder Oaktree Capital to hold talks with Gannett (GCI) about a merger, according to SEC filings. Gannett did make an offer earlier this month, but was rebuffed by Tribune.

The auto parts business of Johnson Controls (JCI), which it will spin off in October, will be headquartered in London. That's the result of a planned merger between Johnson Controls and Tyco International (TYC), which resulted in a restructuring of the planned spin-off.

WATERCOOLER

Walt Disney's (DIS) "Captain America: Civil War" remained atop the weekend box office by taking in $72.6 million in North American ticket sales in its second weekend of release. That ranks as the eighth largest second weekend of all time. (Variety)