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Stock futures edged down as investors kept on eye on the multiple quarrels over government spending taking place on Capitol Hill. Here’s what we’re watching before Monday’s trading begins.
-
Tesla
overcame snarled global supply chains to deliver a record number of vehicles in the third quarter. The Silicon Valley electric-vehicle maker’s shares climbed 3% premarket.
A man charged his car at a Tesla super charging station in Arlington, Va. on Aug. 13, 2021.
Photo:
andrew caballero-reynolds/Agence France-Presse/Getty Images
-
Merck
shares were up 4.1% premarket. Last week, the drug maker said its pill intended to treat Covid-19 had succeeded in a key study.
- Shares of some vaccine makers were extending declines premarket after having dropped last week following the report on Merck’s pill.
Moderna
was down 5% and
Novavax
shed 6.4%.
-
General Motors
shares jumped 3.6% ahead of the bell. The auto maker said early Monday that struck a supplier agreement with Wolfspeed, marking the company’s initial shift to using silicon carbide for electric-vehicle power electronics.
- Automotive safety electronics maker
Veoneer
jumped 3.7%.
Qualcomm
and SSW Partners struck a deal to buy Veoneer for $37 a share.
- Shares of
Amplify Energy
lost more than half their value in premarket trading Monday after a major oil spill at the company’s platform off the coast of Orange County, Calif., over the weekend.
-
Southwest Airlines
shares gained 2.1% premarket.
Barclays
upgraded its rating of the stock and lifted its price target to $75 a share. It closed Friday at $54.35.
-
DuPont
was up 2.7%, having also received a ratings upgrade, from JPMorgan. The bank also nudged its price target up to $85 a share from $84.
-
3M
shares meanwhile received a ratings downgrade from JPMorgan, and the stock was trading down 1.4% premarket.
- Wine producer
Duckhorn Portfolio
and
Comtech Telecommunications
are among the companies reporting earnings Monday.
Chart of the Day
- A quirky corner of the U.S. stock market home to cannabis sellers, cryptocurrency trusts and other speculative investments is seeing record levels of activity.
Write to James Willhite at [email protected]
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https://www.wsj.com/articles/tesla-merck-moderna-what-to-watch-when-the-stock-market-opens-today-11633344618
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