Stocks on Wall Street are wavering ahead of the release of minutes from the Federal Reserve’s latest policy meeting. Here’s what’s moving in Wednesday’s trading:
- Plant-based meat producer Beyond Meat is enjoying a Colonel Sanders rally after it said its faux fried chicken product is coming to KFC locations in the U.S. next week.
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products for sale on Nov. 15, 2019 in New York City.
Photo: angela weiss/Agence France-Presse/Getty Images
- Longeveron shares jumped after the biotech said in a press release that it was launching a phase 2a clinical trial for a treatment for Alzheimer’s disease.
- Shares of Mainz Biomed were also soaring after the molecular genetics diagnostic company said it secured an exclusive license to a portfolio of novel mRNA biomarkers for potential integration into a test for colorectal cancer.
- Toyota outsold General Motors for the first time last year as a global computer-chip shortage dealt an uneven blow to car businesses.
- Furniture maker MillerKnoll said losses widened in the fiscal second quarter as supply chain and labor disruptions affected sales despite strong order demand.
- Smart Global Holdings announced a 2-for-1 share split as it reported a first-quarter profit surge and 61% sales increase.
- U.S.-traded shares of Sea were feeling seasick after Tencent cut its stake in the highly valued Southeast Asian internet company, shedding an ownership position that was worth about $3 billion.
- Office REIT Alexandria Real Estate Equities set the pricing for a public offering of 7 million shares.
- Denver-based food company Simply Good Foods, which makes products under the Atkins and Quest brands, reported an earnings beat and raised its sales forecasts for the year.
- Landec is among the companies reporting earnings Wednesday.
Chart of the Day
- Stocks usually rise between Christmas and right after New Year’s—but this year the Nasdaq Composite missed the mark.
Write to James Willhite at [email protected]
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