Stock futures are wavering after closely watched consumer-price data showed inflation accelerated slightly in September, and the first major earnings reports of the season rolled in. Here’s what we’re watching before Wednesday’s open.
- JPMorgan Chase JPM -0.77% and BlackRock BLK -0.42% kicked off third-quarter earnings, and shares of both were inching higher premarket, by 0.5% and 1.5% respectively. BlackRock delivered a profit beat for the third quarter as its assets under management climbed more than 20%. JPMorgan’s earnings for the period rose 24%.
A Chase bank branch in San Francisco, Calif., April 12, 2021.
Photo: David Paul Morris/Bloomberg News
- Meme stock Koss KOSS 24.95% was bouncing back to life premarket with a 12% jump. Trading in the headphone maker’s stock had been briefly halted just before Tuesday’s closing bell amid surging volatility.
- Plug Power PLUG 7.70% shares jumped 6.8% ahead of the bell. The fuel-cell power systems company’s stock got a ratings upgrade from Morgan Stanley MS 0.50% and a price target of $40 a share. It closed on Tuesday at $29.78.
- Delta Air Lines DAL 0.81% shares slipped 1.3% premarket. the carrier posted a quarterly profit as travel demand began to recover in recent weeks, though the company said it faces pressure from rising fuel prices.
- Smart Global Holdings SGH 0.78% shares climbed 11% premarket after it reported record quarterly and annual revenue.
- Pinnacle Financial Partners PNFP 1.26% reported an increase in earnings per share during the recent quarter from a year ago. Its stock added 2% off hours.
- Southwest Airlines LUV 0.99% pilots said the airline’s weekend meltdown that led to the cancellation of more than 2,000 flights reflected longer-running fatigue and frustration among its crew, leaving it vulnerable to further outages.
- Hasbro HAS -0.55% Chief Executive Brian Goldner died Tuesday, just days after he took a leave of absence for medical care.
- Supply-chain management software company E2open Parent Holdings ETWO 0.18% is due to report earnings after the close.
Chart of the Day
- Seniors and other Americans receiving Social Security benefits in 2022 are likely to see the largest increase in their payments in decades, reflecting surging inflation during the pandemic.
Write to James Willhite at [email protected]
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