Novavax, Lucid, Zoom Video, Barrick Gold, AMC: What to Watch When the Stock Market Opens
Stock futures and global shares slipped following days of whipsaw moves, while oil prices rallied. Here’s what we’re watching in Tuesday’s trading:
-
shares dropped 6.1% premarket after the Covid-19 vaccine maker reported less revenue than expected for the fourth quarter.
-
fell 12% ahead of the bell after the electric car maker cut its 2022 vehicle-production target, underscoring the twin challenges of global supply-chain snags and the transition from startup to mass production.
- Energy companies were broadly higher after crude prices topped $100 a barrel.
and
were all up by more than 1% ahead of the bell.
-
shares jumped 13% premarket. The retailer reported strong sales gains in the holiday quarter, capping off a two-year pandemic run during which the retailer grew its business by nearly $30 billion in revenue.
A Target Corp. store in New York, Aug. 6, 2020.
Photo:
Nina Westervelt/Bloomberg News
-
shed 1.3% premarket. The company’s sales growth faltered in the fourth quarter, signaling that demand for its videoconferencing application is no longer as entrenched in daily life as more conditions from the Covid-19 pandemic begin to recede.
- Gold prices extended their recent march higher, and the upward swing was benefiting the share prices of some producers.
gained 0.5% in premarket trading, and
nudged up 0.3%. Gold is seen as a stable investment in times of uncertainty. However, with the Federal Reserve on course to raise interest rates, its popularity as a safety play may wane, as unlike Treasurys, it doesn’t pay interest.
-
slipped 1.8% premarket. The PC and printer maker raised its annual profit outlook, boosted by strong sales of computers to businesses, but warned that Russia’s invasion of Ukraine would dent its bottom line this quarter.
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gained 8.3%. The human-resources cloud-software company beat estimates for the quarter and forecast a subscription revenue range that exceeded the Wall Street consensus.
- Twinkie maker
added 2.9% after its revenue came in ahead of Wall Street expectations during the recent quarter and it set a share buyback plan.
-
slid 8.5% premarket after the advertising technology company reported quarterly results, including a 34% jump in revenue from the same period a year ago.
-
and
are among the companies reporting earnings after Tuesday’s close.
Chart of the Day
- Oil, natural-gas and grain prices jumped Monday as a broadside of sanctions on Russia over the weekend threatened to ensnare commodities exports from the resource-rich nation.
Write to James Willhite at james.willhite@wsj.com
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