Wall Street stock indexes were down in morning trading after new restrictions were laid out in the U.K. to combat the spread of the Omicron variant. Here’s what we’re watching in Thursday’s trading:
- GameStop, GME -10.30% the videogame retailer turned day-trading sensation reported a wider loss for last quarter as it continued efforts to revitalize its business under an overhauled executive team and board of directors.
GameStop reported a wider loss in the recent quarter.
Photo: shannon stapleton/Reuters
- CVS Health CVS 4.52% said it plans to raise its dividend and buy back stock for the first time since 2017.
- Jefferies cut their target price for Southwest Airlines. LUV -3.67% Other travel-related stocks including Wynn Resorts WYNN -0.73% also came under pressure, suggesting investor unease over coronavirus.
- The head of the European Medicines Agency said this week the Novavax’s NVAX -2.40% Covid-19 vaccine could soon gain approval, Reuters reported. Vaccine stocks have been volatile since the identification of the Omicron variant.
- Digital World Acquisition, DWAC -13.56% the blank-check company that is merging with Donald Trump’s media venture, fell more than 5% in opening trading. Earlier this week the company, known by its ticker symbol DWAC, said in a regulatory filing the SEC was investigating the merger.
- Rent the Runway RENT -4.17% reported high costs, mostly related to its initial public offering in October.
- Luxury home retailer RH RH 5.47% reported better-than-expected results for the third quarter and lifted the low end of its revenue outlook.
- Roku ROKU -8.20% shares extended gains in opening trading, having jumped 18% Wednesday after the streaming device maker signed an agreement with Alphabet that restores the YouTube TV app to its service.
- Analysts at KeyBanc cut their target share price for UiPath PATH -1.38% after the software company reported earnings.
- Analysts at Wells Fargo cut their recommendation for Allstate ALL -1.24% from equal-weight to underweight.
- Lululemon, LULU -2.13% Vail Resorts, MTN -2.54% Broadcom AVGO -0.87% and American Outdoor Brands AOUT -2.82% are among the companies reporting earnings Thursday.
Chart of the Day
- Death-benefit payments rose 15.4% in 2020 to $90.43 billion, mostly due to the pandemic, according to the American Council of Life Insurers. It is the sharpest rise since the 1918 influenza epidemic.
Write to Joe Wallace at [email protected]
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