FuboTV, Unity Software, Wendy's: What to Watch When the Stock Market Opens Today

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    FuboTV, Unity Software, Wendy's: What to Watch When the Stock Market Opens Today

    Here’s what we’re watching ahead of Wednesday’s opening bell.

    • U.S. stock futures fell after data showed consumer prices jumped in April, as the economic rebound and supply disruptions drove up prices for goods and services.
    • Futures for the S&P 500 fell 0.6%, a day after the broad stocks gauge posted its biggest two-decline since early March. Contracts for technology-heavy Nasdaq-100 dropped 1.1%. Contracts on the Dow, which suffered its biggest drop since late February, ticked down 0.3%. Read our full market wrap here.
    What’s Coming Up
    • Earnings are due from Bumble BMBL -4.63% and Jack in the Box JACK -0.26% after the close.
    Market Movers to Watch
    • FuboTV FUBO 8.07% shares soared 20% ahead of the open. The sports streaming company reported that revenue more than doubled in the first quarter and boosted its guidance.

    The fuboTV logo was hung from the New York Stock Exchange on the day of its IPO, Oct. 8, 2020.

    Photo: carlo allegri/Reuters

    • Wendy’s WEN 0.31% shares climbed 4.8% premarket after the fast-food chain said its profit rose for the first quarter and raised its dividend.
    • Unity Software U 3.63% shares added 3.5% premarket after it reported a 41% increase in first-quarter revenue and also raised its guidance.
    • Novavax NVAX -13.91% slid another 3.2% ahead of the bell, having shed 13.9% on Tuesday after it delayed plans to seek regulatory clearances for its Covid-19 vaccine.
    • Minerva Neurosciences NERV -2.62% shares shot 18% higher before the bell. The biopharmaceutical company after Tuesday’s close released the results from a Phase 3 trial of a schizophrenia drug.
    • Electronic Arts EA 0.50% shares ticked up 1.7% premarket. The videogame company ended its fiscal year with a strong final quarter, though it expects implied adjusted profit for the current quarter to decline from a year earlier, when the pandemic was still raging.
    Market Facts
    • There are $10 billion dollars’ worth of space-related SPAC transactions waiting to complete, according to a recent IHS Markit report.
    • The median sales price for existing single-family homes was higher in the first quarter compared with a year earlier for 182 of the 183 metro areas tracked by the National Association of Realtors, the group said Tuesday. In 89% of those metro areas, median prices rose by more than 10% from a year earlier.
    • On this day in 1817, the Warsaw Stock Exchange opens for trading in Warsaw, Poland, handling primarily government and corporate bonds. Initially, a mere one hour of trading, from 12 noon until 1 p.m., served to fill all the buy and sell orders.
    Chart of the Day
    • Occidental’s OXY -7.89% first-quarter results show long-term investors hope for returns—even if that is sometime in the distant future, writes Heard on the Street columnist Jinjoo Lee.
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    Published at Wed, 12 May 2021 12:46:00 +0000

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