October 25, 2021

StrategisChhr

Skillful Business Crafters

Tesla, Merck, Moderna: What to Watch When the Stock Market Opens Today

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]

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

https://www.wsj.com/articles/tesla-merck-moderna-what-to-watch-when-the-stock-market-opens-today-11633344618