Wall Street indexes were mixed in early trading, while investors remained focused on the Omicron variant and its potential impact on the economy. Here’s what we’re watching in Wednesday’s trading:
- GameStop GME -2.34% is due to report earnings after the closing bell. The stock’s relative stability has been a surprising turn of events for GameStop, a company widely credited with sparking the meme-stock mania that has gripped markets this year.
- Covid-19 vaccine makers were turning in a mixed performance as Novavax NVAX -0.60% and Moderna MRNA 0.37% slipped, but Pfizer’s PFE -0.62% shares reversed premarket losses. Pfizer and BioNTech said that a third dose of their Covid-19 vaccine neutralized the Omicron variant in lab tests but that the two-dose regimen was significantly less effective at blocking the virus.
- Robinhood Markets HOOD 4.36% filed to terminate its registration statement for the resale of stock from certain shareholders. The company noted this wouldn’t change the number of shares available for sale.
- Cybersecurity company SentinelOne S -4.78% reported a loss for the recent quarter.
- Luxury home builder Toll Brothers TOL 1.70% said fourth-quarter profit nearly doubled as sales rose, beating analyst expectations.
- Stitch Fix SFIX -23.91% shares plunged after the online apparel retailer swung to a quarterly loss because of an income tax benefit it booked in the year-earlier period.
- The board of Dave & Buster’s Entertainment PLAY 8.64% approved a $100 million share-buyback program.
- Recreational vehicle maker Thor Industries THO -1.90% ‘ profit rose in the recent quarter, lifted by higher sales as it continues to see strong demand.
- Solo Brands DTC -8.66% reported quarterly revenue that beat forecasts and gave full-year guidance ahead of expectations.
- Robotic systems company AeroVironment AVAV 6.11% cut its fiscal 2022 guidance, citing various issues, including supply chain delays.
Chart of the Day
- Bitcoin’s weekend selloff and subsequent rebound illustrate the crypto market’s volatility, but also its growing connection to traditional asset classes.
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