U.S. stock futures wobbled, as rising energy prices exacerbated concerns about inflation, and lingering worries about China’s property sector weighed on sentiment. Individual stocks also saw muted trading ahead Tuesday’s opening bell. Here’s what is moving:
- Airbnb ABNB -1.94% shares added 2.7% after the stock was raised to outperform from market perform by Cowen.
- MGM Resorts International MGM -0.02% shares rose 2.1%. Credit Suisse on Tuesday raised the stock’s price target to $68 per share from $33 a share. On Monday the stock closed at $44.42.
- Shares of CureVac CVAC -1.37% plunged 15% premarket after the German drug maker said its shot—once considered a promising Covid-19 vaccine candidate—would arrive too late to have a viable market. The company is shelving its most advanced Covid-19 vaccine and focusing on a new version.
- NanoVibronix NAOV 17.65% shares fell 7.5% premarket Tuesday. Shares closed more than 17% higher on Monday after the healthcare device company said results were positive from a study of its tennis elbow treatment.
- Shares of cannabis company High Tide HITI -1.06% edged up 1.6% premarket after its wholly-owned subsidiary Canna Cabana received approval to operate in British Columbia.
- Shares of Merck MRK -0.87% edged almost 1% higher premarket a day after it and partner Ridgeback Biotherapeutics said they have filed an application asking U.S. health regulators to authorize their Covid-19 pill, the next step toward adding a long-sought drug for use at home.
The Merck & Co. campus in Rahway, N.J., July 12, 2018.
Photo: brendan mcdermid/Reuters
- Bionano Genomics BNGO -0.78% agreed to buy BioDiscovery, a provider of software for analysis, interpretation and reporting of genomics data, for up to $100 million in cash and equity. Bionano Genomics shares rose 3.3% premarket.
- Citrix Systems CTXS -3.70% shares declined 3.2% premarket. William Blair cut the stock to market perform from outperform Tuesday.
- Digital payments company Square SQ -2.58% was up 1.6% ahead of the bell, with no clear news though the stock was among the trending tickers on Stocktwits.
- Fastenal FAST -0.93% shares added 1.5% premarket. The maker of fasteners and other industrial equipment posted a rise in sales and earnings for the third quarter, though it noted that supply-chain and other input costs have risen.
- Westwater Resources WWR 2.65% shares rose more than 10% premarket as the battery-grade graphite company approved Phase 1 construction of the Coosa Graphite Project in Alabama.
- Earnings from Pinnacle Financial Partners PNFP -0.37% and Smart Global Holdings SGH -1.36% are due after markets close.
Chart of the Day
- The sunshine and breezes that make Brazil’s beaches a tourist destination have also drawn a large share of the world’s investment in solar and wind power to the country in recent years.
Write to Caitlin Ostroff at [email protected]
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