May 26, 2022

StrategisChhr

Skillful Business Crafters

Biogen, PayPal, Block, Ally Financial: What to Watch in the Stock Market Today

Wall Street stock indexes edged up after inflation data showed the largest annual jump in consumer prices in decades. Here’s what we’re watching in Wednesday’s trading:

  • Block’s

    SQ -2.67%

    acquisition of Afterpay has cleared its final regulatory hurdle and will be implemented on Feb. 1, the Australian buy-now-pay-later provider said.

  • Medicare officials said they would cover

    Biogen’s

    BIIB 1.11%

    controversial Alzheimer’s disease drug Aduhelm on the condition that patients are in clinical trials and have early-stage symptoms.

The Biogen headquarters in Cambridge, Mass., June 7, 2021.



Photo:

cj gunther/Shutterstock

  • Jefferies Financial Group

    JEF -1.13%

    reported lower revenue in the latest quarter, which it said was partly due to a challenging market environment for fixed-income trading that led to lower volume.

  • Shares of e-commerce clothing company

    Kidpik

    PIK -1.62%

    jumped in morning trading, building on Tuesday’s 27% gain. No clear catalyst for the penny stock’s gains: even its website was down for scheduled maintenance. Trading in the stock was briefly paused on Tuesday due to volatility.

  • Jefferies cut its rating on

    PayPal

    PYPL -1.43%

    stock and lowered the price target to $200 from $255.

  • Ally Financial’s

    ALLY -0.23%

    board approved a dividend hike and a share-repurchase program.

  • Evercore ISI Group lifted its rating on

    DoorDash

    DASH -0.19%

    stock and set a price target of $256 a share. On Tuesday it closed at $143.64.

  • General Motors

    GM -1.08%

    ‘ new CarBravo marketplace will let U.S. GM dealers sell used cars online, a move that adds new competition to the used-vehicle market and reflects a strategic shift for GM.

  • KB Home

    KBH -0.69%

    and

    E2open Parent Holdings

    ETWO -0.23%

    are due to report after Wednesday’s close.

Chart of the Day
  • Streetwise columnist James Mackintosh looks at three ways the market seems to be returning to normal after its pandemic unruliness, plus one possible change in its long-term pattern.

Write to James Willhite at [email protected]

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https://www.wsj.com/articles/kidpik-biogen-block-ally-financial-what-to-watch-when-the-stock-market-opens-today-11641988019