BlackBerry, Tesla, Cassava Sciences, Paychex: What to Watch When the Stock Market Opens Today

Updated Dec. 22, 2021 8:28 am ET

Stock futures were little changed after major Wall Street indexes snapped a three-day losing streak. Here’s what we’re watching in Wednesday’s trading:

BlackBerry slipped 2.1% ahead of the bell. The Canada-based security software provider posted better-than-expected revenue, but sales fell from a year earlier.
Cassava Sciences added 0.2% premarket. The drug developer said Tuesday it was told by Neuroscience, an academic journal, that there was no evidence to support claims of data manipulation in a 2005 paper written by the company and its collaborators.
Tesla was a bright spot in premarket trading, adding 3.2%. Other electric-vehicle makers weren’t so lucky. Rivian edged down 0.2%, Lordstown Motors slipped 0.5% and China’s Nio shed 0.6%.

Shareholders of Naked Brand Group, an intimate apparel company that sells Fredericks of Hollywood products, voted to approve the acquisition of closely held electric-vehicle company Cenntro. Do you see the synergy potential of lingerie and electric vehicles? Investors don’t either. Naked Brand shares dropped 16% ahead of the bell.
BioRestorative Therapies shares rose 32% in premarket trading after the company said it has entered into a master service agreement with PRC Clinical, a contract research organization specializing in clinical trial management to conduct BioRestorative’s Phase 2 clinical trial.
U.S.-traded shares of Novartis ticked down 1%. The Swiss pharmaceutical company said Wednesday that it has entered into an agreement to buy U.K.-based ocular gene therapy company Gyroscope Therapeutics.
CarMax, Cintas and Paychex are among the companies reporting earnings on Wednesday.

Americans are paying more than ever to stash their extra stuff and filling space rapidly, lifting storage stocks.

Write to James Willhite at [email protected]