Wall Street stock indexes were mixed in morning trading amid another set of major corporate earnings reports. Here’s what we’re watching in Monday’s trading:
- Peloton Interactive is drawing interest from potential suitors including Amazon, according to people familiar with the matter, as its stock slumps and an activist urges it to explore a sale.
A Peloton store in Coral Gables, Fla., Jan. 20, 2022.
Photo: Joe Raedle/Getty Images
- Toy maker Hasbro raised its dividend as its quarterly profit beat expectations.
- Tyson Foods also reported an earnings beat.
- Bitcoin was up from Friday, and crypto stocks were also posting gains, including Coinbase and bitcoin miner Marathon Digital.
- Snap shares nudged down in early trading—but not much given the stock’s 59% rally on Friday that came on the heels of its first profitable quarter.
- Amazon.com was slightly building on its 14% Friday jump, which highlighted the diverging courses of FANG+ stocks since Facebook parent Meta Platforms delivered an earnings disappointment and gloomy forecast.
- Frontier Airlines parent Frontier Group and Spirit Airlines said they plan to merge.
- Spotify Chief Executive Daniel Ek apologized to employees for the backlash that has followed the emergence of Joe Rogan’s use of a racial slur in previous podcast episodes. He said he has no plans to remove the star podcaster from the streaming platform.
- Simon Property Group and Take-Two Interactive Software will give updates after the close.
Chart of the Day
- Electric-vehicle startups and other green tech companies soared early last year. Now a wave of investigations, outside allegations and growing investor skepticism have sent shares down 75% or more for many of them.
Write to James Willhite at [email protected]
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