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.
- 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.
- 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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