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%.
A Tesla Model 3, at center, flanked by two Model Y vehicles that are used by a Tesla dealership as test-drive vehicles, Feb. 8, 2021.
Photo: michael reynolds/Shutterstock
- 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.
Chart of the Day
- 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]
Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
