Wall Street stock indexes opened lower ahead of inflation data and the first wave of major earnings reports later this week. Here’s what we’re watching in Monday’s trading:
- It’s a happy day in FarmVille: Take-Two Interactive is acquiring Zynga in a stock-and-cash deal. Zynga shares soared; Take-Two’s slipped.
- GameStop shares were down in morning trading, reversing course from Friday’s gains that came after a report that it was launching a new division focused on nonfungible tokens and cryptocurrency.
- Lululemon Athletica said fourth-quarter sales and profit will come in at the low end of its guidance ranges amid staffing challenges presented by the Omicron variant.
- Virgin Orbit shares gained in early trading, building on Friday’s 26% rise when the company made its Nasdaq debut.
- Cannabis goods company Tilray ’s sales rose in its fiscal second quarter as its loss narrowed and it nearly swung to a profit.
- Intel removed references to the Chinese region of Xinjiang from an open letter it sent suppliers last month, after the contents of the note sparked a social-media uproar in China and led it to apologize to the Chinese public.
- JPMorgan Chase , Citigroup and Wells Fargo will kickoff earnings season when they report results at the end of the week.
- R1 RCM said Monday it is buying Cloudmed, a software company for healthcare providers, from New Mountain Capital in an all-stock transaction.
- Accolade and Limoneira will report results after the close.
Chart of the Day
- Government retirement funds are pumping record sums into private equity, defying concerns about risk and cost as they try to plug pension shortfalls.
Write to James Willhite at [email protected]
