11:58 AM EDT, 07/08/2024 (MT Newswires) -- US stock indexes were mostly trading in positive territory around midday trading in the wake of Friday's consequential jobs report and ahead of another critical inflation data release Thursday.

In company news, Boeing ( BA ) and the US government reached an agreement in principle over a planned plea deal that would close the investigation into two fatal 737 Max crashes, according to a Sunday court filing from the US government. Boeing ( BA ) confirmed to MT Newswires that an agreement was reached in principle. Under the deal, Boeing ( BA ) will plead guilty to a criminal fraud conspiracy charge, pay a $243.6 million fine and invest at least $455 million into safety and compliance programs, the US government said. Boeing ( BA ) shares were up 1.2% near noon.

Eli Lilly ( LLY ) has agreed to buy biopharmaceutical company Morphic Holding (MORF) for roughly $3.2 billion. Eli Lilly ( LLY ) will launch a tender offer to acquire all outstanding shares of Morphic for $57 a share, a roughly 79% premium over Morphic's Friday closing price, according to a joint statement from the companies. Morphic is currently evaluating its leading therapeutic candidate, MORF-057, for inflammatory bowel disease in two clinical studies involving ulcerative colitis and one trial for Crohn's disease. Eli Lilly ( LLY ) shares were up 0.5% while Morphic surged past 75%.

Paramount Global ( PARAA ) will merge with Skydance Media to establish a new entity via a two-step transaction, which includes the acquisition of Paramount's controlling shareholder, National Amusements. Skydance's investor group will purchase National Amusements for $2.4 billion in cash, the companies said in a Sunday statement. National Amusements, which holds about 77% of Paramount's class A shares, has approved the deal. Skydance will also offer $4.5 billion in cash or stock to Paramount's other shareholders and provide an additional $1.5 billion for the company's balance sheet. Skydance shareholders will receive 317 million newly issued class B shares in the new company, valuing Skydance at $4.75 billion. Paramount's class A shareholders will receive $23 per share in cash or stock. Shares of Paramount were down 3.1%.

Devon Energy ( DVN ) announced Monday that it will buy Grayson Mill Energy's Williston Basin business for $5 billion. Devon will pay $3.25 billion in cash and issue 37 million shares of common stock valued at $1.75 billion to the sellers. The cash portion will be financed via a combination of cash on hand and debt. Shares of Devon Energy ( DVN ) were down 2.5%.

Vista Outdoor ( VSTO ) said Monday that it entered an amendment to its merger agreement with Czechoslovak Group, increasing the purchase price for its Kinetic Group business by $100 million to $2.1 billion. The amendment also increases the cash consideration payable to Vista stockholders by $3 per share to $21. Vista shares were up 0.5%.

KKR (KKR) is considering reviving the sale of Goodpack, a Singapore-based global supply chain and logistics company, in a potentially multibillion-dollar deal, The Wall Street Journal reported Monday, citing people familiar with the plan. The private equity company is in early discussions with advisers to sell Goodpack, and a formal sales process could start in late Q3 or early Q4, the sources reportedly told The WSJ. Shares of KKR were down 1.2%.

Microsoft ( MSFT ) will require its employees in China to use only iPhones for work, Bloomberg reported, citing an internal memo. Starting in September, Microsoft ( MSFT ) will ask employees to use only Apple ( AAPL ) devices to verify their identities when logging in to work computers or phones. Microsoft ( MSFT ) shares were down 0.2%, while Apple ( AAPL ) shares were up 0.2%.

Bitfarms ( BITF ) said Monday its board appointed Ben Gagnon as chief executive officer, effective immediately. Gagnon joined the company in 2019 and most recently served as chief mining officer, Bitfarms ( BITF ) said. Bitfarms ( BITF ) shares were up 0.7%.

Price: 188.88, Change: +4.05, Percent Change: +2.19